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The Most Expensive Mistake of Your Life -
Our Best Freight Factoring Companies
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Here Is a Quick way to Shore Up Your Cash Flow - Select 

A Freight Bill�Factoring Company  Instead Of A Traditional Bank Funding

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

 

You may likely have been aware of freight factoring but most people could not know what it is or even more importantly what it can possibly do for your firm. Trucking Receivables Finance likewise known as receivables financing is a type of asset based lending that can boost a firm's immediate cash flow needs. It is not a loan; no debt is assumed by Receivable Funding ,and the financing is unconditional. Freight Bill Factoring Companies in Invoices Factoring Best Factoring Companies at Ocf.com- delivering invoice discount services best-factoring-companies

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Reasons why Truck Establishments Utilize Factoring Companies.

 

As the manager of your own business, you may well be much more than knowledgeable already of the difficulty in making certain that cash flow concerns do not become a difficulty down the line. After all, the most unfortunate thing that can quite possibly transpire for your business is to find yourself dragged in a long and difficult circumstance that leaves you forever looking for the money you really need on an recurring manner.

 

 

Factoring Companies at Accountreceivablefactor.Org

Best Trucking Factoring Company

So the next moment your trucking enterprise is having some temporary cash flow dilemmas and you are devoting a bit too much time chasing slow paying clienteles, why not start off thinking of using a factoring businesses as a means to get your cash and give yourself a more comfortable future in the eyes of your trucking workers and your bank dividend?

 



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Trucking Factoring

Reasons why Truck Establishments Utilize Factoring Companies.

 

As the manager of your own business, you may well be much more than knowledgeable already of the difficulty in making certain that cash flow concerns do not become a difficulty down the line. After all, the most unfortunate thing that can quite possibly transpire for your business is to find yourself dragged in a long and difficult circumstance that leaves you forever looking for the money you really need on an recurring manner.

 

 



Best Factoring Companies-Factoringaccounts.Org

Best Factoring Companies

 

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called best freight factoring companies. Trucking Factoring is the process of offering accounts receivable to a financier instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial foundation of many of America's most effective companies. Why is this paradoxical ? Because invoice factoring is not taught in business colleges, is rarely discussed in business plans and is relatively unknown to the majority of most of American company people.

Yet it is a financial process that frees billions of dollars every year, allowing countless companies to grow and succeed. Staffing Factoring has been around for countless years. Receivable Financing Businesses are investors who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these big consumer finance companies are really simply large Commercial Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, although you do not make payment up until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal charges vary from two to four percent of the sale). The Benefits Trucking Factoring can offer many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been delivered, a business 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 satisfied with instant  cash.

Best Freight Factoring Companies provides the ways for a manufacturer to replenish stock and make even more products to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for manufacturers: Almost any type company can benefit from Accounts Receivable Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, but you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and simple procedure. The factoring company buys the invoice at a discount, typically a few portion points less than the face value of the invoice.

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The American Truck Association
states that there around
200,000 work with freight trucking
firms and
300,000 private companies trucking
companies certified to
run in the States that transferred,
according to their most current searchings for billions of
items, materials and
standard materials .
There are numerous typical
carriers either going solo or in
groups on our country
roads transferring these
important items to our
shops, manufacturing facilities and shipping ports.

Plus  freight bill factoring
businesses help
numerous of them and offer their
receivables financing services
nationally comprising
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

Best Factoring Companies

 

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

Click below to find Trucking Companies in the United States:

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

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.

 

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

 

Click below to find Trucking Companies in the United States:

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

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

 

 

 

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"

�So, this is not a loan?� Marshall Clark asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Marshall smiled at him, shaking her head.�Not quite,� she said.Marshall Clark 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 Kirk. His company was called Welch Trucking, named after both of his grandfathers, Leo and Ralph. They had both been hardworking men, and had done a lot to make Marshall the same.Disaster had struck half a year ago, when two trucks in Kirk�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. Marshall depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Marshall was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Samantha and she worked for a factoring company. Marshall had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Marshall agreed. It sounded perfect - perhaps too good?.Samantha laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Samantha smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Samantha with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Marshall completed the form, with Samantha offering advice as needed.

 

The completed profile gave Samantha and her company all the information they needed on Kirk's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Marshall completed his form, Samantha listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Samantha took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Kirk�s hand. He also stood up, and they smiled at each other. Marshall walked Samantha to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.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 Samantha 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Welch Trucking. And that's exactly what he did. 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 was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Marshall opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

 

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"

Graham Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Graham was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Graham in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Graham, Luis Curtis, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had 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. 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Luis Curtis to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Rita, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Luis would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Luis. ""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."" All Rita 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'.""Rita was trying so hard to support her husband in these worrying times, while Luis was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Luis strolled into his office and was determined to sit down and make every phone call to every client who had owed Graham 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Luis was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Connieerley knocked at his door.

 

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

 

""Of course Connie, please come in."" Luis leaned back in his chair and looked expectantly at Connieerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Luis."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Connieerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""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.""Immediately?"" Luis interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Luis 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. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Luis was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Connie - it just sounds too good to be true"", Luis said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Luis: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Luis,"" she drew a circle around a paragraph on the document 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,"" Luis said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Luis took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Graham. Just because they were experiencing difficulties paying their own bills now, Luis was very concerned about losing these relationships. Luis 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Connie, thank you."" Connie nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Luis keep the shirt on his back, and possibly hers too.Luis 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 Graham with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Luis was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Luis was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Jeff about this,"" muttered Luis to himself.Luis's son-in-law, Jeff, loved the idea behind Graham and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Luis knew the struggles Jeff would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Graham was hurting, a little guy like Jeff was about to catch his death. But, an antidote may have been found in freight factoring and Luis was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Luis found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Luis 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.

 

"

 

 

 

 

 

 

More Best Trucking Factoring Company -Articles

 

 

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Factoring Trucking Receivables

 

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?

 

 

 

 

 

 

 

More Factoring Trucking Receivables -Articles

 

 

 

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Best Trucking Factoring Company

 

"

Factoring in the Future of a Trucking Business: A Story Harold Turner 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. Turner Trucking Company was at a turning point of growth and Harold had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Harold's father had started this business working as an owner-operator and eventually growing Turner Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Harold'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. But now things were different: the company was in Harold's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Turner Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Harold chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Harold believed a successful man is always thinking of his next step. What would be the next step for Turner Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without 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.

 

Now it was time for Harold to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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. 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 sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Harold 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 Turner 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, Harold 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. He suddenly realized that, with this new cash flow, he could actually expand Turner Trucking Company and who knows, move into Canada, which had always been his dream. 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.

 

"

 

 

 

 

 

 

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Receivables Loans Companies

 

Date Published- 2014- 06-18 Trucking Invoice Factoring Companies

 

"

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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

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

 

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

 

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

 

1. 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. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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.

 

"
http://Factortrucking.Org

 

 

 

 

 

More Best Trucking Factoring Company -Articles

 

 

 

"

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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

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

 

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

 

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

 

1. 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. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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.

 

"

 

Best Factoring Companies