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Only Companies with imagination can take it - Our Freight Factoring Companies Can Give Your Freight Company The Cash You Want


at medicalaccountsreceivable.org

and Cleveland-Invoice-Factoring-Companies.medicalaccountsreceivable.org.

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Small freight businesses, especially those who have not been in existence for really long, will typically discover it tough to secure a loan. Banks are typically reluctant to lend money to businesses that do not have a lot of earnings and properties. They also want evidence of the practicality of a business and thus need that most operations, specifically little ones, be in business for a specific amount of time before they are prepared to hand over any cash. Since of this, a medium-size company frequently has a couple of money generating alternatives when requires develop. One alternative available, but typically ignored, is invoice factoring. This is an outstanding means for a medium-size company to obtain cash.

 

How You can Get a Quick Loan of $50,000 - Choose An Accounts Receivable Factoring Company Instead Of A Traditional Bank Financing

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

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier instead of waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most effective companies. Why is this ironic ? Since receivable funding is not taught in business colleges, is rarely discussed in company plans and is fairly unidentified to bulk of most of American business individuals.

Yet it is a financial process that frees billions of dollars every year, enabling countless companies to grow and succeed. Truck Factoring has been around for countless years. Receivable Loan Financing Companies are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these large consumer finance business are truly simply large Receivable Loan Financing Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, even though you do not make payment up until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Benefits Receivable Funding can offer numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has currently been provided, a company can factor (sell) its receivables for cash at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the business needs that can be satisfied with instant  cash.

Factoring provides the ways for a manufacturer to replenish inventory and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management device for manufacturers: Almost any kind company can take advantage of Accounts Receivable Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can offer that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factor buys the invoice at a price cut, usually a couple of percentage points less than the stated value of the invoice.

 

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The American Truck Organization states that there around 195,000  workers with freight trucking businesses and 250,000 private providers trucking companies licensed to operate in the U.S. that  carried, according to their newest listings of millions of  products, supplies and standard products . There are a number of  common carriers either going solo or in teams on our nation highways transferring these crucial items to our shops, manufacturingplants and ports.

Furthermore truck factoring companies aid several of them and offer their factoring services nationally counting 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

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

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

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

 

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

 

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

 

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

 

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

 

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

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

 

 

 

 

 

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Cleveland is the second-largest city in Ohio and the seat of Cuyahoga County. It is located in the northeast part of the state on Lake Erie. In the colonial era, the Cleveland area was known as the Connecticut Western Reserve, part of a land grant made to Connecticut by King Charles II in 1662. The city was founded in 1796 by Gen. Moses Cleaveland, who was the head surveyor of the Connecticut Land Company. This company had bought 3 million acres in what is now northern Ohio. A permanent settlement was founded in 1799, named after the general, and the spelling was shortened to Cleveland. The city was incorporated in 1836.Cleveland's industrial growth was stimulated by the opening of the Ohio and Erie canals in 1832 and, later, by the advent of the Civil War, with the increasing demand for machinery, railroad equipment, ships, and other items. Today, the port of Cleveland is the largest overseas general cargo port on Lake Erie. Greater Cleveland has long been famous as a durable goods manufacturing area. Following the national trend, however, Cleveland has been shifting to a more services-based economy. Greater Cleveland is a world corporate center for leading national and multinational companies in industries ranging from transportation, insurance, retailing, and utilities, to commercial banking and finance.The city's cultural attractions include the Cleveland Museum of Art and the Cleveland Orchestra, one of the country's most highly acclaimed symphony orchestras. Jacobs Field, a major league ballpark, and the Rock & Roll Hall of Fame also draw thousands of visitors to the cityCleveland's geographic location on the Cuyahoga River and Lake Erie has been key to its growth. The Ohio and Erie Canal coupled with rail links helped establish the city as an important business center. Steel and many other manufactured goods emerged as leading industries.[78]The city diversified its economy in addition to its manufacturing sector. Cleveland is home to the corporate headquarters of many large companies such as Applied Industrial Technologies, Cliffs Natural Resources, Forest City Enterprises, NACCO Industries, Sherwin-Williams Company and KeyCorp. NASA maintains a facility in Cleveland, the Glenn Research Center. Jones Day, one of the largest law firms in the U.S, began in Cleveland.[79] Cleveland and its surrounding suburbs are also home to several private equity firms including The Riverside Company, Kirtland Capital Partners, Resilience Capital Partners and Primus Capital.[80]In 2007, Cleveland's commercial real estate market experienced rebound with a record pace of purchases,[81][82] with a housing vacancy of 10%.[83][84] Downtown Cleveland from the Superior Viaduct.The Cleveland Clinic is the city's largest private employer with a workforce of over 37,000 as of 2008.[85] It carries the distinction as being among America's best hospitals with top ratings published in U.S. News & World Report.[86] Cleveland's healthcare sector includes University Hospitals of Cleveland, a renowned center for cancer treatment,[87] and MetroHealth medical center. Cleveland is also noted in the fields of biotechnology and fuel cell research, led by Case Western Reserve University, the Cleveland Clinic, and University Hospitals of Cleveland. Cleveland is among the top recipients of investment for biotech start-ups and research.[88] Case Western Reserve, the Clinic, and University Hospitals have recently announced plans to build a large biotechnology research center and incubator on the site of the former Mt. Sinai Medical Center, creating a research campus to stimulate biotech startup companies that can be spun off from research conducted in the city.[89] NASA's Glenn Research Center is adjacent to Cleveland Hopkins International Airport.City leaders promoted growth of the technology sector in the first decade of the 21st century. Mayor Jane L. Campbell appointed a ""tech czar"" to recruit technology companies to the downtown office market, offering connections to the high-speed fiber networks that run underneath downtown streets in several ""high-tech offices"" focused on the Euclid Avenue area. Cleveland State University hired a technology transfer officer to cultivate technology transfers from CSU research to marketable ideas and companies in the Cleveland area, and appointed a vice president for economic development. Case Western Reserve University participated in technology initiatives such as the OneCommunity project,[90] a high-speed fiber optic network linking the area's research centers intended to stimulate growth. In mid-2005, Cleveland was named an Intel ""Worldwide Digital Community"" along with Corpus Christi, Texas, Philadelphia, Pennsylvania, and Taipei. This added about $12 million for marketing to expand regional technology partnerships, created a city-wide Wi-Fi network, and developed a tech economy. In addition to this Intel initiative, in January 2006 a New York-based think tank, the Intelligent Community Forum, selected Cleveland as the sole American city among its seven finalists for the ""Intelligent Community of the Year"" award. The group announced that it nominated the city for its OneCommunity network with potential broadband applications.[91] OneCommunity collaborated with Cisco Systems to deploy a wireless network starting in September 2006

 

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Reynolds 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 heady times from 2002 to 2007, Reynolds was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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 to a crawl

 

. Worse still, it was noticed by Reynolds in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Reynolds, Curtis Jenkins, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. 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 Reynolds money had jumped ship and decided to leave him holding the bag.

 

. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Reynolds hadn't gone elsewhere. The had just gone!.The situation looked dire to Curtis Jenkins. Curtis 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. In the evenings he would discuss his concerns with his wife, Rosa, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Curtis would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Curtis. ""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."" All Rosa could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Curtis knew very well that Rosa 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 following day Curtis walked into his office with a spring in his step, determined to call each and every client who owed money to Reynolds Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Curtis knew that he was in trouble.

 

Poor Curtis 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.

 

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

 

""Sure thing Lois, come on in."" Curtis relaxed back into his chair and looked up at Loiserley.""Well Curtis, this afternoon I did some research, trying to work out how we're going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Loiserley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Curtis interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.��Curtis replied cautiously ""I see - and what happens then?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Curtis was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Lois,"" he said.""Now, now, I know, I thought the same thing. But think about it, Curtis: 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, Curtis,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Curtis.Curtis 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're in with these folks who owe us money.""Curtis took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Reynolds Truck & Haul were professional resources of the company, but they were also long-standing friends. Curtis wasn't prepared to lose these relationships just because they were having financial issues at the moment. Curtis knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he didn't handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Lois, thank you."" Lois nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Curtis sat behind his desk and looked over the details Lois had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Reynolds Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Curtis was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Curtis was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't 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 Benjamin about this,"" Curtis muttered to himself.His son-in-law Benjamin had liked the idea of Reynolds 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. Curtis knew then what struggles Benjamin would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Reynolds was struggling then the little guys, like Benjamin, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Curtis 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 Curtis 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 took that time and refocused effort to offering competitive prices in new territories. Curtis recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Curtis hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

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More Trucking Factoring Companies Story Articles

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The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and David Davis 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. Davis Trucking Company was at a turning point of growth and David had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago David's father had started this business working as an owner-operator and eventually growing Davis Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even David�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 David�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They 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 Davis 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. David allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.

 

David knew he was right in his forward thinking. What would be the next step for Davis Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for David to do his homework. David 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. 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 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For David 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for David because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Davis Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, David stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, David could actually expand Davis 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, this is not a loan?� asked Tyler West, reclining back into his chair and crossing his legs. The woman sitting across the desk from Tyler smiled at him, shaking her head.�No, not exactly,� she stated.Tyler was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Ronald. His company was called Sullivan Trucking, named after both of his grandfathers, Norman and Steve. They had both been hardworking men, and had done a lot to make Tyler the same.Six months ago disaster struck Ronald's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Ronald's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Tyler 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Tyler wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Tyler knew she was employed by a Factoring company and that her name was Julie. Tyler had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Julie explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Tyler agreed. It sounded perfect - perhaps too good?.Julie laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Julie smiled, agreeing. �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. Sometimes you need help. That�s what we�re here for.��In any case, thank you for coming to see me.��No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Julie said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Tyler completed the form, with Julie offering advice as needed.

 

The profile filled Julie and her company in on Ronald�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Tyler completed his form, Julie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Julie took it and slid it into her briefcase. Standing up, she reached over the desk and shook Ronald's hand. He stood before they shook as well, and then smiled. Tyler walked Julie to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Julie though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. 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.Tyler 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 successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Sullivan Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn't want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Ronald's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

 

 

More Trucking Factoring Company Story Articles

The key reasons why Trucking Agencies Make use of Factoring Companies.

 

As the manager of your own firm, you may well be much more than conscious already of the difficulty in making certain that cash flow matters do not become a problem down the line. Anyway, the most disappointing thing that can possibly happen for your firm is to find yourself embroiled in a long and challenging condition that leaves you forever looking for the funds you require on an ongoing basis.

 

For just about any enterprise in this condition, the challenge can come for waiting for work to clear up and actually be paid into your bank account. Statements, checks, and the like can take a long time to actually to beprocessed which can easily leave you with temporary capital dilemmas. Thank goodness, there are options out there for enterprises to explore-- and among these is factoring agencies.

 

Factoring companies will, in exchange for your statements, grant you with the funds immediately to ensure that you don't need to fret about the delaying phase which could make paying the expenses and obtaining toolsmore challenging. With this style of arrangement, invoice factoring can end up being tremendously helpful for several businesses who ought to get out of a money ploy which they have discovered themselves in.

 

Considering that, depending upon the scale of the job, it can take up to 60 days for some enterprises to get paid out then it's crucial to blanket your own back and not leave yourself cash short to settle the expenses. After all, how many companies possess two months cash flow just lying there to deal with all their overheads until they earn?

 

This is most especially true of truck firms. They have the tendency to handle great deals of statements which means a huge quantity of collection period involves company owner themselves. Making an effort to get paid off in time can develop into an amazing headache and this is the reason why you use truck factoring organizations who are thrilled to help out truckers exclusively.

 

As most of us recognize, trucking is an incredibly massive market with a lot of firms out there utilizing hundreds of operators. Unfortunately, several of these drivers end up in money problems given that they are still anticipating work from six weeks previously to actually compensate them. When this is the situation for a trucking business, consulting factoring agencies for reinforcement could be the most suitable alternative left.

 

This indicates that a truck company can pay off the wages of the crew, keep all the vehicles refilled with fuel and continue to go up, evolve and expand without constantly waiting for the funds which is taking too prolonged to come in. Trucking Establishments running without a factoring program implemented are leaving themselves at substantial hazard, as rivals cash out quickly and continue to broaden.

 

There's honestly nothing to be worried about when it comes to working with a Factoring contractor-- they typically aren't like a banking company or someone who is going to leave you with a considerable stockpile of financial debt to repay. You give them genuine invoices from work you have already wrapped up , you are only just quickening the payment system.

 

In the United states of America, where trucking establishments succeed, factoring agencies are not considered getting a loan in any capacity. This private deal then allows both parties to make money and enjoy a worry-free future-- it provides the factoring firm a secured resource of revenue to put into the list and it supplies the trucking company the required funds that they worked hard to acquire.

 

The trucking enterprise presents their accounts to the factoring firm. The trucking factoring business then receive the payments from the trucking company's customers. Factoring has been in existence for centuries and has been used for many years by a lot of diverse sectors-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you work with, it indicates that you are getting the cash today and can actually begin putting the funds to function.

 

After all, an IOU or an invoice is absolutely not going to cover costs, is it? For trucking companies when the resources can be good one day and gone the next, it's up to the drivers to work sensibly and to make sure they are leaving themselves with a significant amount of time and money to get through the week up until they are paid again.

 

So the next period your trucking business is having some short-term cash flow dilemmas and you are devoting excessive time chasing slow paying clients, why not begin taking into consideration utilizing a factoring companies as a way to get your finances and give yourself a more pleasant future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

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

 

Benefits of a Trucking Factoring Company Vs. A 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 Won't Incur Debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also don't 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 don't 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.

 

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.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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