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How To Get More Cash - Our Receivable Factoring Company Can Give
Your Truck Company The Cash You Need

accountreceivableloan.co.uk

trucking invoice factoring companies

factoring services for trucking companies

freight invoice factoring

best trucking factoring company

Factoring invoices is advantageous for a number of factors. It enables a trucking company to raise money without acquiring brand-new financial obligation. While financial obligation is occasionally required, the majority of freight brokerage would like to raise money without borrowing money. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is large enough, it may even require a trucking companies out of business.

 

 

 

 

 

 

 

Little Cash Flow Leaks That Keep Companies Poor - Pick A Freight�Factoring Company  Instead Of A Traditional Bank Funding

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

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

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling accounts receivable to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial foundation of numerous of America's most effective businesses. Why is this ironic ? Since truck factoring is not taught in business colleges, is rarely discussed in company plans and is fairly unknown to the majority of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Trucking Factoring has been around for thousands of years. Receivable Financing Companies 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 client has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest definition of the word, these big consumer finance companies are really simply big Factoring Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, even though you do not pay up until you are prepared.

For this service, the credit card company charges XYZ Store a charge (typical common normal fees vary from two to four percent of the sale). The Benefits Receivable Loan Funding can provide many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has already been delivered, a business can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  money.

Account Receivable Financing offers the ways for a manufacturer to renew stock and make even more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for producers: Practically any type business can benefit from FACTORING. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, usually a couple of portion points less than the stated value of the invoice.

 

 

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"

Burlington is the largest city in the State of Vermont and the shire town (county seat) of Chittenden County. It lies 45 miles (72 km) south of the U.S.-Canadian (Vermont-Quebec) border and 94 miles (151 km) south of Montreal.Burlington had a population of 42,417 at the 2010 census. The city is the hub of the Burlington-South Burlington metropolitan area, consisting of the three northwestern Vermont counties of Chittenden, Franklin and Grand Isle and encompassing the cities of Burlington, South Burlington, and Winooski; the towns of Colchester, Essex, and Williston; and the village of Essex Junction. According to the 2012 U.S. Census estimates, the metro area had an estimated population of 213,701, approximately one third of Vermont's total population.Burlington's economy centers on education, health services, trade, transportation and utilities. There is also some manufacturing. The city has the 6th lowest unemployment rate of all metro areas (2011) at just 4.8%. Real wages were $39,980 in 2006 constant dollars and remained there to 2010; the state was $33,385; the nation, $36,871.

 

South Burlington is a city in Chittenden County, Vermont, in the United States. As of the 2010 census, the city population was 17,904. It is one of the anchors of the Burlington metropolitan area and is the second largest city in Vermont.It is composed of multiple sets of suburban neighborhoods and a commercial center, which is in the process of being converted to a downtown. It is also home to the state's largest mall, the University Mall. The city borders Lake Champlain and has a public park and beach, ""Red Rocks.""Healthcare employed 780 people as of 2008. The headquarters of Homemade, Inc. are located in South Burlington.

 

Rutland is a city in and the shire town (county seat) of Rutland County, Vermont, United States. As of the 2010 census, the city had a total population of 16,495. Rutland is located approximately 65 miles (105 km) north of Massachusetts and 20 miles (32 km) east of New York state. Rutland is the third largest city in Vermont. It is surrounded by the town of Rutland, which is a separate municipality. The downtown area of the city is listed as a historic district on the National Register of Historic Places.Major area employers are Rutland Regional Medical Center, Electric , OMYA Central Vermont Public Service (now Green Mountain Power) and Reels. E employed 975 workers in 2010. Waste Systems is the second largest private employer (behindAircraft), employing 583 employees at their headquarters on Green Hill Lane.

 

Barre /'b�ri/ is a city in Washington County, Vermont, in the United States. As of the 2010 census, the city population was 9,052. Barre City is almost completely surrounded by Barre (town), Vermont, which is incorporated separately from the City of Barre.Barre is often twinned with nearby Montpelier in local media and businesses. It is the main city in the Barre Micropolitan area which, at 59,564 residents, is the 3rd largest in Vermont (after Burlington and Rutland). Barre itself is the largest city in Washington County, and is the 4th largest city and the 10th largest municipality in Vermont.Alfred Hitchcock's movie The Trouble With Harry was premiered at the Paramount Theater in Barre on September 27, 1955.

 

Montpelier /m?nt'pi?li?r/ is a city in the U.S. state of Vermont that serves as the state capital and the shire town (county seat) of Washington County. As the capital of Vermont, Montpelier is the site of the Vermont State House, seat of the legislative branch of Vermont government. The population was 7,855 at the 2010 census. By population, it is the smallest state capital in the United States. The Vermont College of Fine Arts, and New England Culinary Institute are located in Montpelier.Since the city's establishment as capital in 1805 the primary business in Montpelier has been government, and by the mid-19th century government and life and fire insurance. Companies based in Montpelier include the Group.

 

Winooski /w?'nu?ski/ is a city in Chittenden County, Vermont, in the United States. Located at the mouth of the Winooski River, as of the 2010 census the city population was 7,267. It is part of the Burlington-South Burlington, VT Metropolitan Statistical Area.Winooski hosts the headquarters of VSAC, the Vermont Student Assistance Corporation. Their new headquarters is a large part of the city's downtown redevelopment project.[]

 

St. Albans City (county seat) Franklin County, Vermont, in the United States. At the 2010 census, the city population was 6,918. St Albans City is surrounded by St. Albans town, which is incorporated separately from the city of St. Albans. The city and area are part of the Burlington-South Burlington, VT Metropolitan Statistical Area.The USCIS has a service center in St. Albans.

 

Newport is a city in and the shire town (county seat) of Orleans County, Vermont, United States. As of the 2010 Census, the city population was 4,589. The city contains the largest population of any municipality in the county, yet encompasses the smallest area.Poulin Grain ships its farm feed products to customers in New England and tate New York. It employs about 50 workers. The plant is producing feed 24 hours a day, seven days a week.

 

Vergennes /v?r'd??nz/ is a city located in the northwest quadrant of Addison County, Vermont, in the United States. Bordered by the towns of Ferrisburgh, Panton and Waltham, as of the 2010 census the city population was 2,588, the smallest of Vermont's nine cities in terms of population (though the city of Winooski covers a smaller area). It was the first city chartered in the state.The median income for a household in the city was $37,763, and the median income for a family was $48,155. Males had a median income of $33,669 versus $20,527 for females. The per capita income for the city was $15,465. About 8.1% of families and 17.0% of the population were below the poverty line, including 8.5% of those under age 18 and 16.0% of those age 65 or over.

 

76000145 Added to NRHP December 22, 1976 Brandon is an unincorporated village and census-designated place (CDP) in the town of Brandon, Rutland County, Vermont, United States. The population of the CDP was 1,648 at the 2010 census.It includes part or all of Brandon Village Historic District.

 

Bristol is a town in Addison County, Vermont, United States. The town was founded June 26, 1762. The population was 3,894 at the 2010 census. Main Street is home to most of the businesses of the town. The town is also home to the Lord's Prayer Rock.

 

Castleton is a town in Rutland County, Vermont, United States. Castleton is about 15 miles (24 km) to the west of Rutland, and about 7 miles (11 km) east of the New York/Vermont state border. The town had a population of 4,717 at the 2010 census. Castleton State College is located there, with roots dating to 1787. Fort Warren was located in Castleton.

 

Hardwick is a town in Caledonia County, Vermont, United States. The population was 3,010 at the 2010 census. It contains the incorporated village of Hardwick and the unincorporated villages of East Hardwick and Mackville. The town is a commercial center for the region's farming population.The main settlement of Hardwick in the center of the town is a census-designated place (CDP), with a population of 1,345 at the 2010 census.The median income for a household in the town was $33,636, and the median income for a family was $39,278. Males had a median income of $27,188 versus $21,732 for females. The per capita income for the town was $14,813. About 10.5% of families and 14.0% of the population were below the poverty line, including 16.3% of those under age 18 and 14.2% of those age 65 or over.

 

Middlebury is the main settlement in the town of Middlebury in Addison County, Vermont, United States, and a census-designated place (CDP). The population was 6,588 at the 2010 census, out of a total population of 8,496 in the town of Middlebury.

 

Randolph is a town in Orange County, Vermont, United States. The population was 4,853 at the 2000 census, making Randolph the largest town in Orange County. The town is a commercial center for many of the smaller, rural farming communities that surround it.When the area was originally settled there were three villages�Randolph Center, East Randolph and West Randolph. What is now the central village of the current town had previously been the village of West Randolph.

 

Richford is a town in Franklin County, Vermont, United States. The population was 2,321 at the 2000 census.Richford is the birthplace of R.G. LeTourneau, American industrialist who founded LeTourneau University in Longview, Texas.Richford is the eastern terminus of the Missisquoi Valley Rail-Trail.

 

St. Johnsbury (sometimes locally known as ""St. Jay"") is the shire town (county seat) of Caledonia County, Vermont, United States. The population was 7,603 at the 2010 census. St. Johnsbury is located approximately 10 miles (16 km) northwest of the Connecticut River and 48 miles (77 km) south of the Canadian border.St. Johnsbury is the largest town by population in the Northeast Kingdom and serves as a commercial center for the area. In 2006, the town was named ""Best Small Town"" in National Geographic Adventure's ""Where to live and play"" feature. The more densely settled southern half of the town is defined by the U.S. Census Bureau as a census-designated place (CDP), where over 81% of the population resides.Green Mountain Mall is a shopping mall north of downtown St. Johnsbury on U.S. Route 5.[28]

 

South Barre is a census-designated place (CDP) in the town of Barre in Washington County, Vermont, United States. The population was 1,242 at the 2000 census.

 

Wilder is an unincorporated village and census-designated place (CDP) within the town of Hartford in Windsor County, Vermont. It is the location of the Wilder Dam on the Connecticut River. The population of the CDP was 1,690 at the 2010 census.

 

"

 

Vermont

 

Vermont Cities

 

The American Transportation Association
mentions that there around
195,000 workers with freight trucking
firms and
300,000 private companies trucking
firms accredited to
run in the United States that transferred,
according to their newest data of millions
items, supplies and
fundamental materials .
There are a number of common
providers either going solo or in
groups on our country
roadways carrying these
important products to our
shops, factories and harbors.

And freight invoice factoring
businesses support
numerous of them and offer their
receivables financing services
countrywidecomprising
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

 

Dairy farming has long been dominant in Vermont agriculture, although it has declined somewhat. Apples, cheese, maple syrup, and greenhouse and nursery products are important. The state's most valuable mineral resources are stone, asbestos, sand and gravel, and talc. In the areas around Rutland and Proctor is a noted marble industry, and at Barre the famous Vermont granite is quarried and processed. The manufacture of nonelectric machinery, machine tools, and precision instruments is important. The textile industry, once dominant in Burlington, has declined, but the manufacture of computer components, food products, pulp and paper, and plastics has helped to compensate for this loss. Cottage industries have long thrived in Vermont, making a variety of products from knitwear to ice cream, while captive insurance companies (insurance companies owned by the companies they insure) are more recent and growing industry. Tourism is also vitally important to the state economy.

 

 

 

View Our Factoring YouTube Videos For More Information

 

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

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Trucking Companies serving to/from points within the United States,
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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.

 

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

 

Click below to find Trucking Companies in the United States:

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

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

 

 

"

Cruz Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Cruz Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.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 to a crawl

 

. And worse yet, Cruz had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Jeffery Jones, CEO of Cruz felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Cruz money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Cruz hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Jeffery Jones to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Kim, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Jeffery would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Jeffery said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Kim would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Jeffery knew very well that Kim was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Jeffery strolled into his office and was determined to sit down and make every phone call to every client who had owed Cruz money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jeffery 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. 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, Jeffery 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 Veraerley knocked at his door.

 

""Can I have a word with you Jeffery?"" she queried, standing in the doorway.

 

""Sure thing Vera, come on in."" Jeffery leaned back in his chair and looked expectantly at Veraerely.""Well Jeffery, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Veraerley 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?"" Jeffery interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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.""I see,� Jeffery 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.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Jeffery was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Vera - it just sounds too good to be true"", Jeffery said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Jeffery: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Jeffery,"" 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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Jeffery said.Jeffery took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Jeffery took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Cruz Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Jeffery was very concerned about losing these relationships. Jeffery knew only too well that the whole economy was floundering, and that it was not going to change overnight. 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 Vera, and thankyou."" Vera nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Jeffery keep the shirt on his back, and possibly hers too.Jeffery stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Cruz 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. Jeffery was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Jeffery was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Kyle about this,"" Jeffery muttered to himself.Kyle is Jeffery's son-in-law, and he really admired the ideas behind Cruz, so much so that only two years before he had started his own transportation service business. At that time Jeffery knew the struggles Kyle would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Cruz was hurting, a little guy like Kyle 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 short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Jeffery was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Jeffery looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Jeffery hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Darryl Reid let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Darryl is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Reid Trucking Company was at a turning point of growth and Darryl had to decide if signing with a factoring company was the right way forward.

 

Darryl�s father had started as an owner-operator and had grown Reid Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Darryl�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Darryl�s hands and he wanted to live to see it in better shape for his sons.

 

To move Reid Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Reid Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Darryl 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.

 

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

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Darryl had to really consider what his next step was going to be. 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He 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. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

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

 

Darryl 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. With the capabilities of this new cash flow, Darryl could actually expand Reid Trucking Company further across the country and perhaps even go international into Canada. 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.

 

"

 

 

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� asked Jorge Grant, reclining back into his chair and crossing his legs. The woman sitting across the desk from Jorge smiled at him, shaking her head.�No, not exactly,� she stated.Jorge 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 Herbert. His company was called Banks Trucking, named after both of his grandfathers, Herbert and Gerald. They had both been hardworking men, and had done a lot to make Jorge the same.Disaster had struck half a year ago, when two trucks in Herbert�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Jorge 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 Jorge had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Jorge wasn�t a bad owner, and he hadn�t messed up. 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 Michelle 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.Michelle explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Jorge nodded. It sounded perfect - perhaps too good?.Michelle laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Michelle nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Michelle said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Jorge completed the form, with Michelle offering advice as needed.

 

The profile filled Michelle and her company in on Herbert�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Jorge filled out his form, Michelle was pretty sure he was a perfect candidate for factoring.Michelle took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Herbert's hand. He stood before they shook as well, and then smiled. Jorge walked Michelle to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Michelle and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Jorge couldn�t help but think back to when he had first started the 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 it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Banks Trucking. And that's exactly what he did. 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 nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

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, because of factoring, he was sure he wouldn�t have to. Herbert's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Reasons why Truck Corporations Work with Factoring Firms.

 

As the manager of your own business enterprise, you may be much more than perceptive already of the hardship in making sure that cash flow issues do not become a dilemma down the line. Anyway, the toughest thing that can quite possibly happen for your company is to find yourself swept up in a long and difficult condition that leaves you forever looking for the funds you necessitate on an on-going manner.

 

For any sort of establishment in this position, the trouble can come for waiting for work to clear up and actually be paid out into your statement. Bill of sales, checks, and the like could take a while to actually to be taken care of which can certainly leave you with short-term capital issues. The good news is, there are approaches out there for establishments to check out-- and just one of these is factoring firms.

 

Factoring agencies will, in exchange for your statements, give you with the money asap so that you do not have to fret about the delaying time span that could make paying out the bills and obtaining toolsmore difficult. With this style of setup, invoice factoring can become incredibly practical for several companies who have to avoid a money pitfall which they have gotten themselves in.

 

Given that, relying on the scale of the project, it can take up to 60 days for a number of businesses to get compensated then it is very important to cover up your own back and definitely not leave yourself resources short to settle the bills. After all, how many enterprises have two months profits just lying there to address all their overheads till they earn?

 

This is particularly correct of truck firms. They often tend to handle lots of accounts which means a serious quantity of collection time involves company owner themselves. Striving to get compensated promptly can become an extraordinary headache and this is exactly why you utilize trucking factoring agencies who are pleased to help out truckers particularly.

 

As most of us realize, trucking is an surprisingly enormous market with a lot of companies out there working with hundreds of operators. The sad thing is, numerous of these drivers wind up in income dilemmas given that they are still awaiting work from six weeks previously to actually pay them. When this is the circumstance for a trucking agency, consulting factoring providers for solutions could be the best option left.

 

This signifies that a truck company can provide the salaries of the personnel, keep all the cars topped off with fuel and continue to scale, progress and expand without continually waiting for the money which is taking too prolonged to come in. Trucking Business enterprises functioning without a factoring system established are leaving themselves at considerable threat, as competitions cash out promptly and proceed to broaden.

 

There's honestly almost nothing to be distressed about when it comes to using a Factoring firm-- they commonly are not like a bank or a person who is going to leave you with a huge heap of financial obligation to repay. You give them legitimate invoices from job you have already accomplished , you are simply accelerating the repayment process.

 

In the Usa, where truck agencies flourish, factoring agencies are not considered getting a loan in any capacity. This private settlement then enables both parties to profit and delight in a comfortable future-- it provides the factoring firm a warranted resource of income to include in the list and it offers the trucking firm the needed cash that they sweated to acquire.

 

The trucking establishment provides their statements to the factoring firm. The trucking factoring provider then receive the payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for long times by a lot of varied sectors-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you deal with, it implies that you are receiving the resources today and can actually begin putting the resources to operate.

 

Anyway, an IOU or an invoice is not actually going to pay for costs, is it? For trucking agencies when the income can be very good one day and gone the next, it is up to the drivers to work prudently and to ascertain they are leaving themselves with a notable amount of time and money to get through the week until they are paid once more.

 

So the next time your trucking business is having some momentary cash flow concerns and you are devoting a lot of time chasing slowly paying clients, why not start off taking into consideration making use of a factoring businesses as a manner to get your money and give yourself a more convenient future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

"

Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it 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 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your 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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