Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

How To Get Rich With - Our Truck Factoring Company Can Give
Your Freight Company The Money Your Company Needs

businessfinanceresource.org

freight factoring companies california

factoring trucking receivables

factoring services for trucking companies

trucking invoice factoring

Small freight brokerage companies, particularly those who have not been around for very long, will frequently discover it hard to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a great deal of income and properties. They likewise want proof of the viability of a company and hence require that the majority of operations, particularly little ones, been around for a particular amount of time prior to they are ready to hand over any money. Due to the fact that of this, a medium-size company frequently has a couple of cash generating options when needs arise. One option offered, however frequently ignored, is receivable Financing. This is an exceptional way for a small business to obtain cash.

 

 

 

 

 

 

 

Imagine Holding Your banker Spellbound for 30 Minutes - Select The Best Factoring Company Instead Of A Typical Bank Funding

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Truck Factoring is the process of offering invoices to an investor instead of waiting to gather the money from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of many of America's most successful businesses. Why is this paradoxical ? Because staffing factoring is not taught in business colleges, is rarely discussed in business strategies and is fairly unknown to bulk of most of American business people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and prosper. Staffing Factoring has been around for countless years. Truck Factoring Businesses are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest meaning of the word, these big customer finance companies are truly simply big Staffing Factoring Businesses of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, although you do not make payment up until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to four percent of the sale). The Advantages Commercial Factoring can offer numerous advantages to cash-hungry business. 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 small price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be met with instant  money.

Trucking Factoring offers the means for a manufacturer to renew inventory and make even more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Practically any kind company can benefit from Receivable Financing. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about 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 customer s invoice, however you can sell that invoice for the cash to meet those responsibilities. Using truck factoring companies is a fast and simple process. The factoring company purchases the invoice at a price cut, usually a couple of portion points less than the stated value of the invoice.

 

 

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

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

 

 

philadelphia-factoring-companies

 

The United states Trucking Organization
mentions that there around
205,000 employees with transportation
companies and
300,000 private companies trucking
firms accredited to
run in the United States that carried,
according to their newest data of millions
products, materials and
basic products .
There are several common
carriers either going solo or in
teams on our nation
highways transporting these
crucial products to our
stores, factories and harbors.

Plus freight invoice factoring
businesses aid
many of them and offer their
accounts receivablesfinancing 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

 

Philadelphia, the largest city in Pennsylvania, is located in the southeast part of the state at the junction of the Schuylkill and Delaware Rivers. It is coextensive with Philadelphia County.Philadelphia, the City of Brotherly Love, was settled in 1681 by Capt. William Markham, who, with a small band of colonists, had been sent out by his cousin, William Penn. Penn arrived the following year with the intention of creating a refuge for the Quakers.In the period before the American Revolution, the city outstripped all others in the colonies in education, arts, science, industry, and commerce. In 1774�1776, the First and Second Continental Congresses met in Philadelphia, and, from 1781�1783, the city was the capital of the United States under the Articles of Confederation. In 1790, it became the nation's capital under the Constitution and remained so until the seat of the federal government moved to Washington in 1800.Within a half-century of the founding of the nation at Independence Hall, Philadelphia had emerged as a leader in America's Industrial Revolution. Today the steam locomotives and hat factories of the 19th century have been replaced by diverse manufacturing specialties such as chemicals (including pharmaceuticals), medical devices, transportation equipment, and printing and publishing. In the services sector, Philadelphia leads in subsectors such as health services, insurance carriers, legal services, and architecture and engineering services. Philadelphia is also home to branches of the U.S. Mint, the Federal Reserve System, and the Internal Revenue Service.The city's harbor, one of the largest freshwater ports in the world, is the centerpiece of the AmeriPort facility in south Philadelphia, a major shipping center with rail links to the Midwest and Canada.The city abounds in landmarks of early American history, including Independence Hall, where the Declaration of Independence was signed, and the Liberty Bell. Other significant tourist attractions are the Philadelphia Museum of Art, the Franklin Institute Science Museum, and the Philadelphia Zoological Gardens.

 

 

Watch Our Freight Factoring YouTube Videos For More Information

 

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

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

 

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

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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

 

 

"

Smith Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Smith Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. 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, Smith 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 Smith, James Davidson, 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 gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Smith money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Smith hadn't gone elsewhere. The had just gone!.To James Davidson the situation looked desperate. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Patricia, 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.James would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the 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. What on earth was happening to create the death of his business?""I think I know what it could be,"" James said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Patricia could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""James knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day James strolled into his office and was determined to sit down and make every phone call to every client who had owed Smith money. 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. A waste of time - a waste of money - he had the best intentions, but all the while James was realising just how much trouble he was in.Poor James 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.

 

""Can I have a word with you James?"" she asked standing in the doorway.

 

""Of course Wanda, please come in."" James leaned back in his chair and looked expectantly at Wandaerely.""Well James, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""James interrupted ""Immediately?"".""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�s a broad view.""I see,� James 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.�James was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Wanda - it just sounds too good to be true"", James said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, James: 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, James,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said James.James took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""James thought about this and agreed with Wandaerley. The clients who owed them money were long standing friends and professional resources of Smith. Just because they were experiencing difficulties paying their own bills now, James was very concerned about losing these relationships. James 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 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 Wanda, thank you."" Wanda stood up and left James's office, with the nice feeling of knowing that she may just have solved a very serious problem.James 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 Smith 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. James 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 Alvin the good news,"" James muttered to himself.Alvin is James's son-in-law, and he really admired the ideas behind Smith, so much so that only two years before he had started his own transportation service business. At that time James knew the struggles Alvin would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Smith was struggling then the little guys, like Alvin, 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, James 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. James recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Philadelphia, the largest city in Pennsylvania, is located in the southeast part of the state at the junction of the Schuylkill and Delaware Rivers. It is coextensive with Philadelphia County.Philadelphia, the City of Brotherly Love, was settled in 1681 by Capt. William Markham, who, with a small band of colonists, had been sent out by his cousin, William Penn. Penn arrived the following year with the intention of creating a refuge for the Quakers.In the period before the American Revolution, the city outstripped all others in the colonies in education, arts, science, industry, and commerce. In 1774�1776, the First and Second Continental Congresses met in Philadelphia, and, from 1781�1783, the city was the capital of the United States under the Articles of Confederation. In 1790, it became the nation's capital under the Constitution and remained so until the seat of the federal government moved to Washington in 1800.Within a half-century of the founding of the nation at Independence Hall, Philadelphia had emerged as a leader in America's Industrial Revolution. Today the steam locomotives and hat factories of the 19th century have been replaced by diverse manufacturing specialties such as chemicals (including pharmaceuticals), medical devices, transportation equipment, and printing and publishing. In the services sector, Philadelphia leads in subsectors such as health services, insurance carriers, legal services, and architecture and engineering services. Philadelphia is also home to branches of the U.S. Mint, the Federal Reserve System, and the Internal Revenue Service.The city's harbor, one of the largest freshwater ports in the world, is the centerpiece of the AmeriPort facility in south Philadelphia, a major shipping center with rail links to the Midwest and Canada.The city abounds in landmarks of early American history, including Independence Hall, where the Declaration of Independence was signed, and the Liberty Bell. Other significant tourist attractions are the Philadelphia Museum of Art, the Franklin Institute Science Museum, and the Philadelphia Zoological Gardens.

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Jim Nichols let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Nichols Trucking Company was at a turning point of growth and Jim had to decide if signing with a factoring company was the right way forward.

 

Jim�s father had started as an owner-operator and had grown Nichols 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 Jim�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. Now the company was solely in Jim�s hands and he wanted to live to see it in better shape for his sons.

 

To move Nichols 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, Nichols 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. Jim chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

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 a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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 Jim to do his homework. Jim had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. 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 was good money.

 

For Jim it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Jim because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Nichols Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Jim stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Jim could actually expand Nichols Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Dwight James, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Dwight James owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Brett. He named his business Crawford Trucking, named after Donald and Shane, his two grandfathers. They had both been hardworking men, and had done a lot to make Dwight the same.Disaster had struck half a year ago, when two trucks in Brett�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 Brett's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Dwight had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Dwight 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. Dwight knew she was employed by a Factoring company and that her name was Joy. 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.Dwight agreed. It sounded good to him, almost too good.Joy laughed. �You look like you don�t believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Joy smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Joy with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Dwight filled the form out, with Joy available to help him if he needed it. The profile filled Joy and her company in on Brett�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Dwight filled out his form, Joy was pretty sure he was a perfect candidate for factoring.When the form was done Joy took it and slid it into her briefcase. She then stood, reached across the desk and shook Brett�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Dwight 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 shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Joy 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. 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 Crawford Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He 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 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. Brett'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.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Precisely why Truck Corporations Employ Factoring Firms.

 

As the owner of your own business enterprise, you may be much more than perceptive already of the challenge in making certain that capital matters do not become a predicament down the line. Anyway, the worst thing that can in all probability transpire for your company is to find yourself involved in a long and difficult situation that leaves you forever trying to find the funds you require on an recurring basis.

 

For any sort of company in this position, the concern can come for waiting for work to lapse and actually be paid into your balance. Bill of sales, checks, and the like could take a long time to actually to be taken care of which can certainly leave you with momentary available resources issues. Fortunately, there are alternatives out there for establishments to check out-- and among these is factoring firms.

 

Factoring firms will, in substitution for your bill of sales, give you with the money now to ensure that you do not need to fret about the delaying time span which could make paying the bills and obtaining materialsmore difficult. With this type of system, invoice factoring can end up being tremendously valuable for lots of enterprises who have to avoid a cash ploy which they have discovered themselves in.

 

Simply because, relying on the volume of the work, it can take up to 60 days for some enterprises to get paid out then it is essential to blanket your own back and not leave yourself resources short to pay off the costs. After all, how many establishments possess two months revenue just occupying there to pay for all their costs till they make money?

 

This is specifically correct of truck agencies. They have the tendency to manage good deals of invoices which means a notable amount of collection period demands business owner themselves. Attempting to get paid off promptly can become an amazing headache and this is exactly why you work with truck factoring providers who are delighted to help out truckers specifically.

 

As we all understand, trucking is an remarkably large business with lots of firms out there employing hundreds of vehicle drivers. The sad thing is, many of these drivers end up in money troubles given that they are still anticipating work from six weeks earlier to actually compensate them. When this is the circumstance for a trucking organization, choosing factoring companies for reinforcement might be the best option left.

 

This means that a truck organization can provide the salaries of the work force, keep all the cars filled with fuel and continue to scale, evolve and expand without consistently waiting for the cash which is taking too prolonged to come in. Trucking Firms operating without a factoring program implemented are leaving themselves at notable hazard, as contenders cash out promptly and go on to broaden.

 

There's genuinely not a thing to be distressed about when it comes to working with a Factoring company-- they are not like a bank or a person who is going to leave you with a substantial stack of personal debt to repay. You give them genuine invoices from output you have already finalized , you are only facilitating the payment system.

 

In the United states of America, where truck firms thrive, factoring agencies are not considered accepting loan of in any capacity. This private agreement then allows both parties to make money and delight in a comfortable future-- it provides the factoring provider a warranted asset of revenue to put into the list and it offers the trucking business the needed money that they worked hard to earn.

 

The trucking business provides their invoices to the factoring firm. The trucking factoring firm then collect the installment payments from the trucking company's clients. Factoring has been all around for centuries and has been utilized for several years by a lot of various fields-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it signifies that you are obtaining the resources today and can actually start off putting the resources to work.

 

After all, an IOU or an invoice is not actually going to pay for spendings, is it? For trucking establishments when the funds 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 substantial volume of time and money to get through the week until they are handed over again.

 

So the next time your trucking enterprise is having some short-term cash flow dilemmas and you are putting in way too much time chasing sluggish paying clienteles, why not begin thinking about using a factoring businesses as a method to get your cash and give yourself a more comfortable future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

"

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 is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. 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. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

"

 

 

 

 

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

 

 

 

 

 

Philadelphia

 

"
"

 

 

 

 

 

 

 

 

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