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What Your Banker Doesn't Want You to Know -
Our Receivables Factoring
Can Provide
Your Truck Company
The Money Your Company Needs



factoring freight brokers only

factoring trucking industry

trucking factoring services

factoring services for trucking companies

Medium-Size trucking companies, particularly those who have not been in existence for extremely long, will typically discover it difficult to secure a loan. Banks are typically reluctant to lend cash to companies that don't have a lot of income and assets. They also desire evidence of the viability of a company and thus need that the majority of operations, particularly little ones, be in business for a particular amount of time prior to they want to hand over any money. Due to the fact that of this, a small business frequently has few cash generating options when requires occur. One option offered, but frequently neglected, is factoring. This is an outstanding way for a small business to obtain cash.

I liked this product so much - that I  - Pick 

An Invoice Factoring Company Instead Of A Regular Bank Financing

Exactly how to Enhance Money 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 a problem any more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One option is called receivables factoring. Truck Factoring is the procedure of offering invoices to an investor instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary backbone of many of America's most successful businesses. Why is this ironic ? Because invoice factoring is not instructed in business colleges, is rarely discussed in company strategies and is relatively unknown to bulk of most of American company individuals.

Yet it is a monetary procedure that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Truck Factoring has actually been around for thousands of years. Accounts Receivable Factoring Companies are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are really just big Staffing Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not pay until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Receivable Loan Funding can provide many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has already been provided, a business can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant  money.

Receivables Factoring offers the ways for a producer to renew stock and make more products to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a cash management device for producers: Almost any kind company can take advantage of Accounts Receivable Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a fast and easy procedure. The factoring company purchases the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.



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1 - 888-239-9162

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The United states Truck Association
states that there are about
200,000 work with freight trucking
firms and
300,000 personal companies trucking
firms accredited to
operate in the U.S. that carried,
according to their latest data of millions
items, materials and
fundamental products .
There are numerous typical
providers either going solo or in
groups on our country
roads transporting these
important items to our
shops, manufacturing facilities and harbors.

Furthermoretruck factoring
businesses support
many of them and offer their
receivables financing facilities
countrywide 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:

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.


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


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.

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.



Since the mid 1980s Hunt Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Hunt 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. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Hunt 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 Hunt, Theodore Hart, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Hunt money had jumped ship and decided to leave him holding the bag.


. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Theodore Hart to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Eleanor, and still find no relief from the worry and frustration.


""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Theodore would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Theodore. ""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."" Eleanor would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Eleanor was trying so hard to support her husband in these worrying times, while Theodore was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Theodore walked into his office with a spring in his step, determined to call each and every client who owed money to Hunt 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. A waste of time - a waste of money - he had the best intentions, but all the while Theodore was realising just how much trouble he was in.Poor Theodore 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.


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


""Of course Anita, please come in."" Theodore relaxed back into his chair and looked up at Anitaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Theodore."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Anitaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Theodore interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.��Theodore 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.�Theodore was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Anita,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Theodore,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Theodore.""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. """"That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Theodore said.Theodore took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Theodore took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Hunt. They didn't want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Let me go over this tonight Anita, and thankyou."" Anita stood up and left Theodore's office, with the nice feeling of knowing that she may just have solved a very serious problem.Theodore stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Hunt 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. Theodore was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Wesley the good news,"" muttered Theodore to himself.Theodore's son-in-law, Wesley, loved the idea behind Hunt and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Theodore knew the struggles Wesley would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Hunt was hurting, a little guy like Wesley 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 Theodore was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Theodore looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.





More Trucking Factoring Companies Story Articles


Factoring in the Future of a Trucking Business: A Story Leslie Wheeler let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Leslie is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Wheeler Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.


More than forty years ago Leslie's father had started this business working as an owner-operator and eventually growing Wheeler Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Leslie's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Leslie's hands and he needed to ensure that this business would be left in great shape for his sons.


To move Wheeler 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 all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Wheeler Trucking look inefficient and weak in what was currently a strong market.


He knew what his father would have said - 'wait, take your time before adding new technology'. Leslie 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.


Leslie knew he was right in his forward thinking. What would be the next step for Wheeler 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 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.


Now it was time for Leslie to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?


But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.


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





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Trucking Factoring  Articles

�So, this is not a loan?� asked Craig Olson, reclining back into his chair and crossing his legs. The woman sitting across the desk from Craig smiled at him, shaking her head.�Not quite,� she said.Craig 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 Rick. His company was called Sims Trucking, named after both of his grandfathers, Jorge and Milton. Both of these men had been very hardworking and had set a great example for Rick.Six months ago disaster struck Rick'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 Rick's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Craig 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. Her name was Minnie and she worked for a factoring company. Craig 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.Minnie explained. �it is really not a loan at all: we actually buy your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. 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.Craig nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Minnie nodded. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Minnie said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.


Craig filled the form out, with Minnie available to help him if he needed it. The profile filled Minnie and her company in on Rick�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Craig completed his form, Minnie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Minnie took it and slid it into her briefcase. Standing up, she reached over the desk and shook Rick's hand. He also stood up, and they smiled at each other. Craig walked Minnie to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Minnie 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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. 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 Sims Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him 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. Rick'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.





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Reasons why Trucking Firms Make use of Factoring Companies.


As the operator of your own firm, you may perhaps be much more than aware already of the hardship in making certain that cash flow issues do not become a problem down the line. After all, the most disappointing thing that can possibly happen for your firm is to find yourself involved in a long and complicated situation that leaves you forever searching for the funds you require on an recurring basis.


For any business enterprise in this condition, the concern can come for waiting for work to clear up and actually be provided into your balance. Bill of sales, checks, and the like can take a long time to actually to beprocessed which may leave you with short-term cash flow troubles. The good news is, there are alternatives out there for industries to look into-- and among these is factoring companies.


Factoring agencies will, in substitution for your invoices, give you with the money asap in order that you don't have to stress over the waiting time span that could make paying the bills and acquiring toolsmore difficult. With this form of arrangement, invoice factoring can come to be exceptionally useful for numerous businesses who have to get out of a cash pitfall which they have gotten themselves in.


Simply because, relying on the scale of the job, it can take up to 60 days for a number of enterprises to get compensated then it's essential to blanket your own back and certainly not leave yourself money short to pay off the expenses. After all, how many establishments possess two months revenue just lying there to cover all their overheads till they make money?


This is especially correct of truck agencies. They have the tendency to take care of tons of accounts which means a serious quantity of collection time entails business owner themselves. Making an effort to get paid in time can turn into an incredible difficulty and this is exactly why you use trucking factoring companies who are pleased to help out truckers specifically.


As we all know, trucking is an exceptionally large industry with lots of organizations out there working with hundreds of vehicle drivers. The sad thing is, many of these drivers wind up in money problems simply because they are still waiting on work from six weeks previously to actually pay them. When this is the situation for a trucking organization, depending on factoring firms for support maybe the finest alternative left.


This means that a trucking firm can pay out the wages of the work force, keep all the trucks topped off with fuel and continue to scale, rise and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Enterprises running without a factoring program applied are leaving themselves at considerable hazard, as competitions cash out quickly and go on to broaden.


There's absolutely not much to be troubled about when it comes to making use of a Factoring company-- they commonly are not like a banking company or an individual who is going to leave you with a large heap of personal debt to repay. You give them authentic invoices from job you have already finalized , you are merely hastening the payment system.


In the United States, where truck enterprises do well, factoring establishments are not considered getting a loan in any capacity. This private arrangement then makes it possible for both groups to make money and take joy in a worry-free future-- it provides the factoring firm a secured asset of earnings to add to the list and it provides the trucking firm the required money that they worked hard to generate.


The trucking business gives their statements to the factoring agency. The trucking factoring business then obtain the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been utilized for several years by several diverse sectors-- but none much more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you work with, it signifies that you are receiving the cash today and can actually start putting the money to function.


Once and for all, an IOU or an invoice is certainly not going to finance expenses, is it? For trucking companies when the money can be really good one day and gone the next, it's up to the vehicle drivers to work sensibly and to ensure they are leaving themselves with a considerable amount of time and money to get through the week till they are paid for once again.


So the next time your trucking company is bearing some temporary cash flow dilemmas and you are spending a lot of time chasing slowly paying customers, why not begin looking into utilizing a factoring companies as a manner to get your cash and give yourself a more worry-free future in the eyes of your trucking workers and your bank balance?








Traditional Bank Loans


Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.


Trucking Factoring Companies


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


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


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


1. You Won't Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.


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


3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.


4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you 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 you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.


As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.


In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.





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