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To Companies Who Want To Write - but Can't Get Started -
Our Accounts Receivable Financing Rates
Can Give
Your Freight Company
The Cash Your Company Needs

 

and Accounts-Receivable-Financing-Rates.receivableloan.org.

trucking factoring services

trucking invoice factoring companies

trucking factoring

factoring for trucking

Invoice Factoring is beneficial for numerous factors. It allows a trucking business to raise cash without acquiring brand-new financial obligation. While financial obligation is occasionally necessary, the majority of truck businesses would prefer to raise money without obtaining cash. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.

The Company Who Won the Prize For - Pick 

The Best Factoring Company Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called accounts receivable financing rates. Truck Factoring is the process of selling invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of numerous of America's most successful businesses. Why is this paradoxical ? Since trucking factoring is not taught in business colleges, is seldom mentioned in business strategies and is relatively unknown to bulk of most of American business people.

Yet it is a financial procedure that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Invoice Factoring has actually been around for countless years. Truck Factoring Businesses are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these big consumer finance companies are truly simply big Factoring Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not pay up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal fees vary from two to four percent of the sale). The Advantages Trucking Factoring can provide many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for cash at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  cash.

Accounts Receivable Financing Rates provides the means for a manufacturer to renew stock and make even more products to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Almost any kind business can take advantage of Accounts Receivable Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a quick and simple process. The factor buys the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Truck Organization
specifies that there around
195,000 workers with transportation
firms and
300,000 personal providers trucking
companies accredited to
run in the U.S. that transferred,
according to their latest listings of millions of
products, materials and
fundamental materials .
There are several typical
providers either going solo or in
teams on our nation
roadways carrying these
important products to our
shops, factories and harbors.

Andtruck factoring
corporations help
several of them and offer their
receivables financing facilities
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

accounts-receivable-financing-rates

 

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

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

 

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

 

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

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

 

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

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

 

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

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

 

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.

 

 

"

Since the mid 1980s Murphy Truck & Haul have been successfully running their freight business. 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 heady times from 2002 to 2007, Murphy was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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

 

. And worse yet, Murphy 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. And as spring turmed to summer and summer into the early days of fall, Keith Lucas, CEO of Murphy felt a chill go down his spine whenever he would look at the weekly A/R 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 things different, or wrong, when it came to collecting overdue 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 Murphy money had jumped ship and decided to leave him holding the bag.

 

. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.To Keith Lucas 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. At night he would speak to his wife Cheryl and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Keith would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Keith said. ""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."" Cheryl would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Keith knew very well that Cheryl was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Keith strolled into his office and was determined to sit down and make every phone call to every client who had owed Murphy money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Keith knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Keith knew that he was in trouble.

 

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

 

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

 

""Of course Karen, please come in."" Keith relaxed back into his chair and looked up at Karenerley.""Well Keith, this afternoon I did some research, trying to work out how we're going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Keith interrupted ""Immediately?"".""Immediately, yes"" she added, ""It's actually very simple. We can have an expert account manager review our numbers and help us complete 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�s a broad view.��Keith replied cautiously ""I see - and what happens then?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

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.�Leaning forward, Keith studied the documents very closely.""I don't know, Karen - it just sounds too good to be true"", Keith said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Keith,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""""It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Keith.Keith 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're having with these clients who still owe us money.""Keith thought about this and agreed with Karenerley. The customers who were in debt to Murphy Truck & Haul were professional resources of the company, but they were also long-standing friends. They didn't want to throw away these relationships because they were having trouble paying their bills now. Keith 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. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Karen, thank you."" Karen nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Keith keep the shirt on his back, and possibly hers too.Keith sat behind his desk and looked over the details Karen had not mentioned in their meeting. What other issues could freight factoring help Murphy 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. Keith 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 Ian the good news,"" Keith muttered to himself.Keith's son-in-law, Ian, loved the idea behind Murphy 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 Keith knew the struggles Ian would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Murphy was struggling then the little guys, like Ian, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Keith 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, Keith 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. Keith looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Jason Lee 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. Lee Trucking Company was at a turning point of growth and Jason had to decide if signing with a factoring company was the right way forward.

 

Jason�s father had started as an owner-operator and had grown Lee Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Jason's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Jason'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. His employees needed to be paid. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Lee Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jason allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Jason believed a successful man is always thinking of his next step. What would be the next step for Lee 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded 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. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Jason had to really consider what his next step was going to be. Jason 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?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he wouldn't have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Jason it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jason because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn't have any problems, nor would they think poorly of Lee 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, Jason stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Jason could actually expand Lee 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 wouldn't be inheriting a financial mess.

 

 

 

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Trucking Factoring  Articles

�So It is not a loan?� asked Jimmy Baker, reclining back into his chair and crossing his legs. The woman sitting across the desk from Jimmy smiled at him, shaking her head.�No, not exactly,� she stated.Jimmy was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Mathew. He named his business George Trucking, named after William and Jerry, his two grandfathers. They had both been hardworking men, and had done a lot to make Jimmy the same.Disaster had struck half a year ago, when two trucks in Mathew�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Mathew's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just didn't 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.Jimmy wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he couldn't possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Jimmy knew she was employed by a Factoring company and that her name was Vicki. 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.Vicki explained. �It�s not a loan, we purchase your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. This is a win-win situation: we're 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.Jimmy agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Vicki nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. 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 Vicki with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Jimmy filled the form out, with Vicki available to help him if he needed it. The completed profile gave Vicki and her company all the information they needed on Mathew'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Jimmy filled out his form, Vicki was pretty sure he was a perfect candidate for factoring.When the form was done Vicki took it and slid it into her briefcase. She then stood, reached across the desk and shook Mathew�s hand. He also stood up, and they smiled at each other. Jimmy walked Vicki 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. Talking to Vicki though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really 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 long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create George 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 about to turn fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn't want to quit - both for himself and for his staff members.And now it seemed as though he wouldn't have to - all because of Factoring. Jimmy opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Truck Firms Utilize Factoring Companies.

 

As the manager of your own firm, you may well be much more than knowledgeable already of the challenge in making certain that capital matters do not become a predicament down the line. After all, the most horrible thing that can potentially come about for your establishment is to find yourself swept up in a long and difficult condition that leaves you forever trying to find the cash you require on an continuing basis.

 

For any enterprise in this position, the dilemma can come for waiting for work to lapse and actually be provided into your statement. Statements, checks, and the like can take a long time to actually to beprocessed which can leave you with short-term available resources difficulties. Thank goodness, there are alternatives out there for enterprises to examine-- and among these is factoring companies.

 

Factoring providers will, in substitution for your statements, supply you with the money immediately so that you don't have to fret about the lingering phase that could make paying out the expenses and obtaining toolsmore hard. With this kind of setup, invoice factoring can come to be remarkably helpful for countless enterprises who need to avoid a money ploy which they have found themselves in.

 

Simply because, relying on the size of the job, it can take up to 60 days for several firms to get compensated then it's very important to take care of your own back and not leave yourself funds short to settle the monthly bills. After all, how many establishments possess two months cash flow just occupying there to deal with all their overheads till they get paid?

 

This is specifically true of truck agencies. They generally manage lots of statements which means a serious amount of collection time entails company owner themselves. Trying to get paid out in time can end up being an extraordinary headache and this is exactly why you employ trucking factoring organizations who are delighted to help out truckers particularly.

 

As most of us know, trucking is an remarkably large business with countless firms out there working with hundreds of drivers. Unfortunately, quite a few of these drivers wind up in income issues since they are still expecting work from six weeks earlier to actually pay them. When this is the scenario for a truck company, depending on factoring companies for assistance may be the most suitable option left.

 

This implies that a trucking corporation can compensate the paychecks of the personnel, keep all the vehicles refilled with gas and continue to go up, develop and expand without constantly waiting for the cash which is taking too lengthy to come in. Trucking Businesses operating without a factoring program put in place are leaving themselves at considerable hazard, as contenders cash out rapidly and go on to broaden.

 

There's absolutely nothing at all to be troubled about when it comes to making use of a Factoring firm-- they usually are not like a banking company or an individual who is going to leave you with a big mass of debt to pay back. You give them genuine invoices from job you have already finished , you are only just expediting the repayment system.

 

In the United States, where truck agencies do well, factoring enterprises are not considered taking on loan in any capacity. This confidential deal then lets both parties to benefit and delight in a comfortable future-- it gives the factoring provider a secured asset of money to put into the list and it furnishes the trucking business the needed funds that they sweated to acquire.

 

The trucking establishment provides their statements to the factoring business. The trucking factoring firm then take the installment payments from the trucking company's clients. Factoring has beenaround for centuries and has been used for decades by numerous varied business sectors-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you team up with, it indicates that you are receiving the cash today and can actually begin putting the resources to work.

 

After all, an IOU or an invoice is not actually going to fund overheads, is it? For trucking establishments when the money can be good one day and gone the next, it's up to the drivers to work smartly and to make sure they are leaving themselves with a significant amount of time and money to get through the week till they are handed over once again.

 

So the next time your trucking enterprise is enduring some temporary cash flow dilemmas and you are putting in an excessive amount of time chasing inactive paying clients, why not begin thinking of using a factoring businesses as a means to get your finances and give yourself a more pleasant 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. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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. You Won't Incur Debt. You don't 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 won't be affected. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is 'buying' your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you don't have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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