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Do You Do Any Of These Embarrassing Things? - Our Freight Invoice Factoring Companies Can Give
Your Freight Company The Cash You Need

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Small freight businesses, particularly those who have actually not been around for really long, will typically find it difficult to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a lot of income and assets. They also desire evidence of the viability of a company and thus require that most operations, specifically small ones, be in company for a particular quantity of time before they want to turn over any money. Since of this, a medium-size business typically has a couple of cash creating choices when needs occur. One option available, however often overlooked, is receivable Financing. This is an exceptional means for a medium-size company to get cash.

 

 

 

 

 

 

 

How To Burn Off Receivables, Hour-by-Hour - Pick A Truck�Factoring Company  Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Trucking Factoring is the process of selling invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary foundation of numerous of America's most effective businesses. Why is this paradoxical ? Because factoring is not instructed in business colleges, is rarely mentioned in business strategies and is relatively unknown to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing countless businesses to grow and prosper. Factoring has been around for thousands of years. Receivable Loan Funding Businesses are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance business are really simply large Receivable Loan Funding Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, although you do not pay until you are ready.

For this service, the charge card business charges Sears a charge (typical common normal fees range from two to 4 percent of the sale). The Advantages Staffing Factoring can provide many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be met with instant  money.

Account Receivable Financing provides the ways for a producer to replenish inventory and make even more items to offer: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Practically any kind business can take advantage of Receivable Financing. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a price cut, usually a few percentage points less than the face value of the invoice.

 

 

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The U.s. Trucking Organization
states that there around
200,000 truck drivers with truck
companies and
250,000 personal service providers trucking
companies accredited to
operate in America that transferred,
according to their most current searchings for billions of
products, materials and
basic materials .
There are several usual
carriers either going solo or in
teams on our nation
roads transporting these
crucial products to our
stores, manufacturingplants and harbors.

Moreover trucking factoring
firms support
countless of them and offer their
receivable loan services
nationallyincluding
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

 

Stockton is a city in Northern California and the county seat of San Joaquin County. Located on the San Joaquin River, Stockton has a population of 291,707 according to the 2010 United States Census and is the 13th-largest city in California.Stockton is situated amid the farmland of California's Central Valley. Interstate 5 and State Route 99, California's major north-south corridors, pass through the city. Stockton is connected westward with the San Francisco Bay by the San Joaquin River's 78-mile channel. With Sacramento, it is one of California's two inland sea ports. In and around Stockton are thousands of miles of waterways and rivers which make up the California Delta.The city hosts the annual Asparagus Festival. Its Haggin Museum is an art and history museum built in Victory Park in 1931. The museum displays 19th and 20th-century works of art and houses local historical exhibits. Stockton boomed as one of the largest cities in California, for a while the third-largest city, during the years of the Gold Rush and later 19th century.Stockton has recently struggled with violent crime, reaching a record high of 71 homicides in 2012 before dropping to 23 in the first nine months of 2013. The city had cut its police force by more than 20% during the 2008 subprime mortgage crisis, but a sales tax approved by voters on November 5, 2013 could fund an additional 120 police officers.Following regional losses to the economy due to the 2008 financial crisis, in July 2012, Stockton became the largest city in U.S. history to file for bankruptcy protection. It was surpassed by Detroit in July 2013. The city approved a plan to exit bankruptcy in October 2013, and voters approved a sales tax on November 5, 2013 to help fund the exit

 

 

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Factoring loans company Calculator
This calculator will show you how much you will make by using our factoring loans company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our factoring loans company
Enter the principal balance of your factoring loans company
(call your factoring loans company lender and ask for the current payoff amount):
Enter the amount of your monthly factoring loans company payment:
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EveryJob 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 andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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

 

EveryJob 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 andenefits 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.

 

EveryJob 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 andenefits 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 Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

 

"

Since the mid 1980s Sims Truck & Haul have been successfully running their freight business. 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, Sims 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. Cash was flowing and times were good for all.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 down. Worse still, it was noticed by Sims 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. And as spring turmed to summer and summer into the early days of fall, Brent Rodriquez, CEO of Sims felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.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? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Sims money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Sims hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Brent Rodriquez to have some very restless nights. Brent was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. At night he would speak to his wife Vanessa and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would say.Brent 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 know what it is,"" Brent said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Vanessa 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'.""Brent knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Brent strolled into his office and was determined to sit down and make every phone call to every client who had owed Sims 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. Wasting money, wasting time - even with the best of intentions, Brent 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 Barbaraerley knocked at his door.

 

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

 

""Sure thing Barbara, come on in."" Brent leaned back in his chair and looked expectantly at Barbaraerely.""Well Brent, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Barbaraerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Brent interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. 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.""I see,� Brent said. �And then what?""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.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Brent leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Barbara,"" he said.""Now, now, I know, I thought the same thing. But think about it, Brent: 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 Brent,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Brent.""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. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are 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 Brent.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Brent thought about this and agreed with Barbaraerley. The customers who were in debt to Sims Truck & Haul were professional resources of the company, but they were also long-standing friends. Brent wasn't prepared to lose these relationships just because they were having financial issues at the moment. Brent 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. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Barbara, thank you."" Barbara stood up and left Brent's office, with the nice feeling of knowing that she may just have solved a very serious problem.Brent sat behind his desk and looked over the details Barbara had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Sims Truck & Haul 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. In fact, Sims could receive up to fifty-percent cash advances upon load pick-ups. 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 Dan the good news,"" Brent muttered to himself.His son-in-law Dan had liked the idea of Sims so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Brent knew the struggles Dan would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Sims was hurting, a little guy like Dan was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about 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, Brent found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Brent recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Stockton is a city in Northern California and the county seat of San Joaquin County. Located on the San Joaquin River, Stockton has a population of 291,707 according to the 2010 United States Census and is the 13th-largest city in California.Stockton is situated amid the farmland of California's Central Valley. Interstate 5 and State Route 99, California's major north-south corridors, pass through the city. Stockton is connected westward with the San Francisco Bay by the San Joaquin River's 78-mile channel. With Sacramento, it is one of California's two inland sea ports. In and around Stockton are thousands of miles of waterways and rivers which make up the California Delta.The city hosts the annual Asparagus Festival. Its Haggin Museum is an art and history museum built in Victory Park in 1931. The museum displays 19th and 20th-century works of art and houses local historical exhibits. Stockton boomed as one of the largest cities in California, for a while the third-largest city, during the years of the Gold Rush and later 19th century.Stockton has recently struggled with violent crime, reaching a record high of 71 homicides in 2012 before dropping to 23 in the first nine months of 2013. The city had cut its police force by more than 20% during the 2008 subprime mortgage crisis, but a sales tax approved by voters on November 5, 2013 could fund an additional 120 police officers.Following regional losses to the economy due to the 2008 financial crisis, in July 2012, Stockton became the largest city in U.S. history to file for bankruptcy protection. It was surpassed by Detroit in July 2013. The city approved a plan to exit bankruptcy in October 2013, and voters approved a sales tax on November 5, 2013 to help fund the exit

 

 

More Trucking Factoring Companies Story Articles

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

 

More than forty years ago Jesus's father had started this business working as an owner-operator and eventually growing Porter 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 Jesus'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 Jesus'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. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Porter Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jesus chuckled, thinking about his father. 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). 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.

 

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

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Jesus 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Jesus it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Jesus because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Porter 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, Jesus 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 Porter 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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"

�So It is not a loan?� Shawn Simpson asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Shawn smiled at him, shaking her head.�No, not exactly,� she said.Shawn was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Clayton. His company was called Washington Trucking, named after both of his grandfathers, Lawrence and Jaime. Both of these men had been very hardworking and had set a great example for Clayton.Six months ago disaster struck Clayton's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Clayton's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Shawn was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Norma and she worked for a factoring company. 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.Norma explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Shawn nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Norma 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. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Norma said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Shawn filled the form out, with Norma available to help him if he needed it. The profile filled Norma and her company in on Clayton�s company, and would help them determine if he was 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 Shawn completed his form, Norma listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Norma took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Clayton's hand. He also stood up, and they smiled at each other. Shawn walked Norma 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 had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Norma though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Shawn couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. 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 half a year off, and in that time he thought to start Washington Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Shawn opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Truck Firms Use Factoring Firms.

 

As the owner of your own establishment, you may be more than wary already of the hardship in making certain that capital matters do not become a problem down the line. Anyway, the most unfortunate thing that can quite possibly transpire for your enterprise is to find yourself dragged in a long and hard situation that leaves you forever searching for the resources you really need on an continuing manner.

 

For any enterprise in this instance, the dilemma can come for waiting for work to clear up and actually be brought in into your statement. Bill of sales, checks, and the like could take some time to actually to beprocessed which can leave you with short-term capital difficulties. Thankfully, there are approaches out there for businesses to check out-- and among these is factoring firms.

 

Factoring companies will, in trade for your bill of sales, supply you with the cash now to ensure you do not have to fret about the lingering duration which could make paying off the bills and purchasing materialsmore complicated. With this type of setup, invoice factoring can become extremely practical for lots of firms who need to avoid a money trap which they have found themselves in.

 

Simply because, depending on the volume of the job, it can take up to 60 days for several businesses to get paid out then it is very important to take care of your own back and definitely not leave yourself money short to pay off the bills. After all, how many establishments have two months profits just lying there to cover all their expenditures until they make money?

 

This is most notably correct of truck agencies. They generally manage great deals of accounts which means a significant volume of collection period demands company owner themselves. Seeking to get compensated promptly can turn into an unbelievable struggle and this is precisely why you work with truck factoring companies who are happy to help out truckers specifically.

 

As we all determine, trucking is an astonishingly enormous field with plenty of agencies out there hiring hundreds of operators. However, plenty of these drivers land up in cash troubles given that they are still waiting for work from six weeks previously to actually pay them. When this is the condition for a truck agency, choosing factoring providers for assistance might be the most recommended choice left.

 

This signifies that a truck corporation can pay the salaries of the crew, keep all the trucks refilled with fuel and continue to scale, evolve and expand without constantly waiting for the resources which is taking too long to come in. Trucking Firms operating without a factoring program implemented are leaving themselves at notable threat, as rivals cash out quickly and carry on to grow.

 

There's honestly very little to be troubled about when it comes to making use of a Factoring company-- they are not like a financial institution or a person who is going to leave you with a massive mass of liability to pay back. You give them genuine invoices from job you have already accomplished , you are only facilitating the repayment system.

 

In the United states of America, where trucking enterprises do well, factoring enterprises are not considered accepting loan of in any capacity. This confidential settlement then permits both parties to benefit and experience a comfortable future-- it gives the factoring provider a secured asset of earnings to add to the list and it provides the trucking business the required money that they sweated to obtain.

 

The trucking company provides their statements to the factoring agency. The trucking factoring firm then receive the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for decades by a lot of different markets-- but none much more so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending upon who you deal with, it means that you are getting the resources today and can actually start setting the resources to operate.

 

Anyway, an IOU or an invoice is not going to pay for spendings, is it? For trucking firms when the funds can be excellent one day and gone the next, it is up to the vehicle drivers to work prudently and to make sure that they are leaving themselves with a substantial quantity of time and finance to get through the week up until they are paid once again.

 

So the next occasion your trucking business is enduring some temporary capital dilemmas and you are shelling out way too much time chasing slow paying clienteles, why not begin thinking of employing a factoring businesses as a way to get your money and give yourself a more pleasant future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. You'll receive the 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very 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.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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