Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Imagine Holding Your banker Spellbound for 30 Minutes - Our Truck Factoring Companies Can Provide
Your Trucking Company The Money Your Company Needs

factorinvoices.org

factoring trucking receivables

best trucking factoring

trucking factoring

factoring trucking receivables

Small freight businesses, specifically those who have actually not been around for extremely long, will frequently discover it tough to protect a loan. Banks are commonly hesitant to lend cash to companies that do not have a lot of earnings and assets. They likewise desire evidence of the viability of a business and thus need that a lot of operations, specifically little ones, been around for a specific quantity of time before they are prepared to hand over any cash. Since of this, a medium-size company frequently has few money producing options when needs emerge. One option available, however often neglected, is receivable Financing. This is an outstanding way for a small company to get cash.

 

 

 

 

 

 

 

How to Get Cash And Grow Your Company - Choose A Factoring Company Instead Of A Typical Bank Financing

How to Increase Money Flow Without Borrowing -Cash Money flow is among the primary reasons businesses fail.

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

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One option is called truck factoring. Truck Factoring is the process of selling accounts receivable to an investor rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial foundation of numerous of America's most effective businesses. Why is this paradoxical ? Because invoice factoring is not taught in business colleges, is rarely mentioned in company plans and is relatively unknown to the majority of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, allowing thousands of businesses to grow and prosper. Staffing Factoring has been around for thousands of years. Invoice Factoring Companies are financiers who pay cash 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 agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest meaning of the word, these big customer finance companies are truly just large Receivable Financing Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not make payment until you are ready.

For this service, the charge card business charges Sears a charge (typical common normal charges vary from two to 4 percent of the sale). The Advantages Accounts Receivable Factoring can offer numerous benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been delivered, a company can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be satisfied with instant  cash.

Factoring provides the means for a manufacturer to replenish inventory and make more items to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a money management device for producers: Practically any kind company can benefit from Commercial Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up 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 bill or today s payroll with a client s invoice, but you can sell that invoice for the cash to meet those responsibilities. Using truck factoring companies is a fast and simple process. The factoring company purchases the invoice at a price cut, typically a few portion points less than the stated value of the invoice.

 

 

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

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

 

 

reno-factoring-companies

 

The U.s. Transportation Association
mentions that there around
200,000 workers with truck
businesses and
300,000 private companies trucking
companies certified to
operate in the United States that transferred,
according to their most current searchings for billions of
items, supplies and
basic products .
There are several usual
carriers either going solo or in
teams on our nation
highways transporting these
crucial products to our
stores, factories and harbors.

And freight factoring
corporations benefit
many of them and offer their
factoring facilities
countrywideincluding
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

 

"

Reno is a city in the US state of Nevada. Known as ""The Biggest Little City in the World"", Reno is famous for its casinos. The city is situated in the northwestern part of the state and is the county seat of Washoe County. Reno is the most populous Nevada city outside of the Las Vegas metropolitan area. As of the 2010 census, the city had a population of 225,221 making it the fourth most populous city in the state after Las Vegas, Henderson, and North Las Vegas. The city sits in a high desert valley at the foot of the Sierra Nevada.Reno is the birthplace of . The Reno�Sparks metropolitan area is informally called the Truckee Meadows and consists of nearly 500,000 residentsBefore the late 1950s, Reno was the gambling capital of the United States, but in the last twenty years Las Vegas' rapid growth, American Airlines' 2000 buyout of Reno Air, and the growth of Native American gaming in California have reduced its business. Older casinos were torn down, or smaller casinos like were either closed or were converted into condos.Because of its location, Reno has traditionally drawn the majority of its California tourists and gamblers from the San Francisco Bay Area and Sacramento, while Las Vegas has historically served more tourists from Southern California and the Phoenix area.Several local large hotel casinos have shown significant growth and have moved gaming further away from the Virginia Street core. These larger hotel casinos are the .was chosen as the most outstanding Reno gaming/hotel property by Casino Player and Nevada magazines. In 2005, the Casino began a $300 million Tuscan-themed expansion.In an effort to bring more tourism to the area, Reno holds several events throughout the year, most of which have been extremely successful. They include Hot August Nights (a classic car convention), Street Vibrations (a motorcycle fan gathering and rally), The Great Reno Balloon Race, a Cinco de Mayo celebration, bowling tournaments (held in the National Bowling Stadium), and the Reno Air Races.Several large commercial developments were constructed during the mid-2000s boom, such as The Summit in 2007 and Legends at Sparks Marina in 2008.Reno is the location of the corporate headquarters for numerous companies have development and manufacturing presence in Reno.

 

"

 

View Our Freight Factoring YouTube Videos For More Information

 

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

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

 

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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.

 

"

Nguyen Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Nguyen was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Nguyen had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Nguyen, Cory Kennedy, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable 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 things different, or wrong, when it came to collecting overdue 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 Nguyen 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 Nguyen hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Cory Kennedy to have some very restless nights. Cory 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 Tamara and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Cory would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But 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,"" said Cory. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Cory 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 Cory strolled into his office and was determined to sit down and make every phone call to every client who had owed Nguyen money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Cory 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. A waste of time - a waste of money - he had the best intentions, but all the while Cory was realising just how much trouble he was in.Poor Cory spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Cory, can I have a word?"" she queried, standing in the doorway.

 

""Sure thing Myrtle, come on in."" Cory relaxed back into his chair and looked up at Myrtleerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Cory."" 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 does sound 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.""Cory interrupted ""Immediately?"".""Immediately, yes"" she added, ""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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Cory replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Cory leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Myrtle,"" he said.""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. And they're flexible Cory,"" she underlined a paragraph on the paper before him.""Just 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 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 Cory.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Cory thought about this and agreed with Myrtleerley. The customers who were in debt to Nguyen Truck & Haul were professional resources of the company, but they were also long-standing friends. Cory wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Myrtle, and thankyou."" Myrtle nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Cory keep the shirt on his back, and possibly hers too.Cory sat behind his desk and looked over the details Myrtle had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Nguyen 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, Nguyen could receive up to fifty-percent cash advances upon load pick-ups. Cory 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.""I must tell Earl the good news,"" muttered Cory to himself.His son-in-law Earl had liked the idea of Nguyen 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. Cory knew then what struggles Earl would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Nguyen was struggling then the little guys, like Earl, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Cory was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Cory was beginning to find his way out of the hole his debtors 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. Cory 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.

 

"

 

"

Reno is a city in the US state of Nevada. Known as ""The Biggest Little City in the World"", Reno is famous for its casinos. The city is situated in the northwestern part of the state and is the county seat of Washoe County. Reno is the most populous Nevada city outside of the Las Vegas metropolitan area. As of the 2010 census, the city had a population of 225,221 making it the fourth most populous city in the state after Las Vegas, Henderson, and North Las Vegas. The city sits in a high desert valley at the foot of the Sierra Nevada.Reno is the birthplace of . The Reno�Sparks metropolitan area is informally called the Truckee Meadows and consists of nearly 500,000 residentsBefore the late 1950s, Reno was the gambling capital of the United States, but in the last twenty years Las Vegas' rapid growth, American Airlines' 2000 buyout of Reno Air, and the growth of Native American gaming in California have reduced its business. Older casinos were torn down, or smaller casinos like were either closed or were converted into condos.Because of its location, Reno has traditionally drawn the majority of its California tourists and gamblers from the San Francisco Bay Area and Sacramento, while Las Vegas has historically served more tourists from Southern California and the Phoenix area.Several local large hotel casinos have shown significant growth and have moved gaming further away from the Virginia Street core. These larger hotel casinos are the .was chosen as the most outstanding Reno gaming/hotel property by Casino Player and Nevada magazines. In 2005, the Casino began a $300 million Tuscan-themed expansion.In an effort to bring more tourism to the area, Reno holds several events throughout the year, most of which have been extremely successful. They include Hot August Nights (a classic car convention), Street Vibrations (a motorcycle fan gathering and rally), The Great Reno Balloon Race, a Cinco de Mayo celebration, bowling tournaments (held in the National Bowling Stadium), and the Reno Air Races.Several large commercial developments were constructed during the mid-2000s boom, such as The Summit in 2007 and Legends at Sparks Marina in 2008.Reno is the location of the corporate headquarters for numerous companies have development and manufacturing presence in Reno.

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Sam Lawrence just sat there letting it ring. 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. Lawrence Trucking Company was at a turning point of growth and Sam had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Sam's father had started this business working as an owner-operator and eventually growing Lawrence Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Sam�s mother strapped herself into a cab 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 Sam's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Lawrence Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Lawrence Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Sam chuckled, thinking about his father. His father had been against placing 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). 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.

 

Sam knew he was right in his forward thinking. How would he take Lawrence Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Sam had to really consider what his next step was going to be. Sam 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 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Sam it was quite a relief to be dealing with the factoring company. 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 Sam because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Lawrence 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.

 

Sam stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Lawrence Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Christopher Wood, reclining back into his chair and crossing his legs. The woman sitting across the desk from Christopher smiled at him, shaking her head.�No, not exactly,� she stated.Christopher Wood 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 Chad. His company was called Oliver Trucking, named after both of his grandfathers, Darryl and Corey. Both of these men had been very hardworking and had set a great example for Chad.Six months ago disaster struck Chad's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Christopher depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Christopher had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Christopher 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 Mildred 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.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Christopher nodded. 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 actually thought I might end up losing my business.�Mildred nodded. �We get that a lot. 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 why we do what we do.""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,� Mildred said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Christopher filled the form out, with Mildred available to help him if he needed it. The completed profile gave Mildred and her company all the information they needed on Chad'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. As Christopher completed his form, Mildred listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Mildred took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Chad's hand. He also stood up, and they smiled at each other. They said their goodbyes and Christopher walked her to the door, and then returned to 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. But now, after speaking to Mildred and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. 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 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 really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Oliver 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing 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 didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Christopher 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

Reasons why Trucking Companies Make use of Factoring Companies.

 

As the manager of your own establishment, you may likely be much more than aware already of the hardship in making certain that cash flow issues do not become a dilemma down the line. Anyway, the most unfortunate thing that can in all probability develop for your firm is to find yourself dragged in a long and challenging circumstance that leaves you forever looking for the money you need to have on an ongoing basis.

 

For pretty much any company in this scenario, the trouble can come for waiting for work to clear up and actually be provided into your bank account. Invoices, checks, and the like can take a long time to actually to be taken care of which may leave you with momentary capital dilemmas. Thankfully, there are approaches out there for establishments to investigate-- and among these is factoring companies.

 

Factoring providers will, in substitution for your invoices, offer you with the finances immediately so that you do not have to worry about the lingering period which could make paying off the bills and getting toolsmore difficult. With this style of setup, invoice factoring can become tremendously helpful for a lot of enterprises who need to get out of a cash trap which they have gotten themselves in.

 

Due to the fact that, basing on the size of the task, it can take up to 60 days for a number of businesses to get paid then it is significant to take care of your own back and definitely not leave yourself resources short to pay off the bills. After all, how many enterprises have two months income just occupying there to address all their overheads until they earn?

 

This is particularly correct of truck firms. They often tend to manage tons of accounts which means a significant amount of collection period demands company owner themselves. Striving to get paid out promptly can become an unbelievable difficulty and this is why you utilize truck factoring agencies who are happy to help out truckers mainly.

 

As we all determine, trucking is an extremely enormous industry with lots of firms out there working with hundreds of drivers. Regretfully, several of these drivers land up in money problems for the reason that they are still waiting for work from six weeks back to actually compensate them. When this is the circumstance for a truck company, choosing factoring providers for support might be the most recommended option left.

 

This means that a truck corporation can compensate the wages of the people, keep all the trucks refilled with gas and continue to escalate, progress and expand without always waiting for the resources which is taking too long to come in. Trucking Firms working without a factoring program implemented are leaving themselves at significant risk, as contenders cash out promptly and continue to develop.

 

There's genuinely nothing to be worried about when it comes to using a Factoring company-- they commonly are not like a banking company or any individual who is going to leave you with a significant heap of financial debt to repay. You give them legitimate invoices from job you have already completed , you are merely expediting the repayment system.

 

In the United states of America, where trucking enterprises prosper, factoring companies are not considered getting a loan in any capacity. This confidential settlement then enables both parties to profit and indulge in a comfortable future-- it gives the factoring company a warranted resource of profit to put into the list and it provides the trucking company the needed finances that they worked hard to gain.

 

The trucking enterprise provides their statements to the factoring firm. The trucking factoring company then acquire the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been utilized for many years by lots of varied industries-- but none 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 implies that you are acquiring the finances today and can actually begin setting the funds to do work.

 

Once and for all, an IOU or an invoice is certainly not going to pay for overheads, is it? For trucking establishments when the resources can be very good one day and gone the next, it is up to the drivers to work prudently and to guarantee they are leaving themselves with a notable volume of time and money to get through the week until they are handed over once more.

 

So the next moment your trucking company is bearing some temporary cash flow dilemmas and you are putting in an excessive amount of time chasing inactive paying clients, why not start thinking of utilizing a factoring companies as a manner to get your finances and give yourself a more at ease future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

"

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. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. There's 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

"

 

 

 

 

Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines