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How You can Get a Quick Loan of $50,000 -
Our Accounts Receivable Factor
Can Give
Your Freight Company
The Cash You Need



freight factoring companies california

trucking invoice factoring companies

factoring trucking industry

factoring for trucking

Invoice Factoring is useful for several reasons. It allows a truck company to raise money without getting new debt. While financial obligation is in some cases necessary, most truck businesses would like to raise money without borrowing money. Financial obligation is dangerous, and when it can not be paid back, assets can be repossessed. If the debt is huge enough, it may even compel a trucking firms out of business.

My Company has 9 New Products - Imagine - Pick 

A Receivable Loan C0mpany Instead Of A Regular Bank Funding

How to Increase Money Flow Without Loaning -Cash Money flow is one of the main reasons businesses fail.

At one time or another, every company, even effective ones, have actually experienced poor cash flow.

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. What is truck factoring ? One solution is called accounts receivable factor. Truck Factoring is the procedure of selling accounts receivable to an investor instead of waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of many of America's most effective businesses. Why is this paradoxical ? Because accounts receivable factoring is not instructed in business colleges, is rarely mentioned in company strategies and is relatively unknown to bulk of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, allowing countless businesses to grow and prosper. Staffing Factoring has been around for countless years. Receivable Loan Financing Businesses are investors who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these large consumer finance companies are truly simply big Accounts Receivable Factoring Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not pay until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal fees vary from two to four percent of the sale). The Advantages Trucking Factoring can provide numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been provided, a business can factor (sell) its receivables for money at a little price cut 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  cash.

Accounts Receivable Factor offers the means for a producer to replenish stock and make more items to offer: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a cash management tool for producers: Almost any kind company can benefit from Receivable Financing. Typically, 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 how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a fast and easy procedure. The factor purchases the invoice at a discount, typically a couple of percentage points less than the face value of the invoice.



Please call our
trucking factoring specialists at
1 - 888-239-9162

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The American Transportation Organization
mentions that there around
205,000 employees with freight trucking
companies and
300,000 personal service providers trucking
firms licensed to
operate in the U.S. that carried,
according to their newest listings of millions of
items, supplies and
fundamental materials .
There are several common
providers either going solo or in
teams on our nation
roads carrying these
important products to our
shops, manufacturingplants and shipping ports.

Furthermorefreight factoring
firms aid
several of them and offer their
accounts receivablesfinancing services
countrywide including
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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Factoring Companies Calculator
This calculator will show you how much you will make by using our Factoring Companies . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our Factoring Companies
Enter the principal balance of your Factoring Companies
(call your Factoring Companies lender and ask for the current payoff amount):
Enter the amount of your monthly Factoring Companies payment:
(invoice amount):
Enter the your Factoring Companies's current interest rate:

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 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


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. 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.




Rogers Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Rogers 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 to a crawl


. Worse still, it was noticed by Rogers 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 Rogers, Albert Richards, 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 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? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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 Rogers hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Albert Richards 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. In the evenings he would discuss his concerns with his wife, Teresa, 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.Albert would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them 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 think I know what it could be,"" said Albert. ""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."" Teresa 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'.""Teresa was trying so hard to support her husband in these worrying times, while Albert was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Albert walked into his office with a spring in his step, determined to call each and every client who owed money to Rogers Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Albert 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, Albert knew that he was in trouble.


Poor Albert 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 Albert?"" she asked standing in the doorway.


""Sure thing Carole, come on in."" Albert relaxed back into his chair and looked up at Caroleerley.""Well Albert, 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?"" Caroleerley 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.""Albert interrupted ""Immediately?"".""Immediately, yes"" she added, ""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.��I see,� Albert said. �And then what?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Albert was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Carole,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Albert: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Albert,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Albert.""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. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Albert said.Albert 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.""Albert 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 Rogers. Albert wasn't prepared to lose these relationships just because they were having financial issues at the moment. Albert knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he 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.""Let me go over this tonight Carole, and thankyou."" Carole nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Albert keep the shirt on his back, and possibly hers too.Albert 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 Rogers Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Albert 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 Derek the good news,"" muttered Albert to himself.Albert's son-in-law, Derek, loved the idea behind Rogers 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 Albert knew the struggles Derek would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Rogers was struggling then the little guys, like Derek, were going to be in even more trouble.


But, an antidote may have been found in freight factoring and Albert was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Albert found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Albert looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.





More Trucking Factoring Companies Story Articles


Factoring in the Future of a Trucking Business: A Story Sean Gonzales let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Sean is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Gonzales 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 Sean's father had started this business working as an owner-operator and eventually growing Gonzales 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 Sean'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. Now the company was solely in Sean�s hands and he wanted to live to see it in better shape for his sons.


To move Gonzales Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Gonzales Trucking looked weak in a very strong market.


He knew what his father would have said - 'wait, take your time before adding new technology'. Sean allowed himself a good hard chuckle. 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). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.


Sean believed a successful man is always thinking of his next step. How would he take Gonzales Trucking to the next level? 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.


He wondered about factoring - was this the answer for him? 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 Sean to do his homework. Sean 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 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 was quite happy to sign 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 wouldn't have to keep going back and forth to different companies. 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 Sean it was quite a relief to be dealing with the factoring company. 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 were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Sean 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 have any problems, nor would they think poorly of Gonzales Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.


Feeling happier now, Sean stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Gonzales 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?� Jerry Gomez asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Jerry smiled at him, shaking her head.�Not quite,� she stated.Jerry Gomez owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Fred. His company was called Peterson Trucking, named after both of his grandfathers, Roland and Jesse. They had both been hardworking men, and had done a lot to make Jerry the same.Disaster had struck half a year ago, when two trucks in Fred�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Fred'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 Jerry had on hand.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.Jerry 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. Jerry knew she was employed by a Factoring company and that her name was Jane. Jerry 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.Jane explained. �it is really not a loan at all: we actually buy 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're 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.Jerry agreed. It sounded good to him, almost too good.Jane laughed. �You look like you don�t believe me,� she said.�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.�Jane 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,� Jane said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Jerry completed the form, with Jane offering advice as needed.


The completed profile gave Jane and her company all the information they needed on Fred's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Jerry filled out his form, Jane was pretty sure he was a perfect candidate for factoring.Jane took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Fred�s hand. He stood before they shook as well, and then smiled. Jerry walked Jane 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 shut 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 Jane and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.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 wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Jerry couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.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 Peterson Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. 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. Jerry opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.





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Reasons why Trucking Corporations Employ Factoring Firms.


As the manager of your own business enterprise, you may perhaps be much more than perceptive already of the difficulty in making sure that cash flow issues do not become a problem down the line. Anyway, the toughest thing that can possibly come about for your business is to find yourself swept up in a long and problematic condition that leaves you forever looking for the resources you need on an on-going manner.


For any business in this circumstance, the issue can come for waiting for work to lapse and actually be paid into your statement. Bill of sales, checks, and the like could take some time to actually to be taken care of which may leave you with momentary cash flow dilemmas. Thank goodness, there are opportunities out there for firms to look into-- and just one of these is factoring companies.


Factoring agencies will, in exchange for your bill of sales, offer you with the cash now so that you don't need to stress over the waiting period that could make paying off the expenses and acquiring toolsmore troublesome. With this type of arrangement, invoice factoring can come to be incredibly helpful for numerous establishments who have to get out of a money trap which they have gotten themselves in.


For the reason that, basing on the size of the job, it can take up to 60 days for several establishments to get paid then it's vital to cover up your own back and definitely not leave yourself cash short to pay the bills. After all, how many business enterprises possess two months earnings just occupying there to cover all their overheads till they make money?


This is particularly true of truck companies. They tend to deal with bunches of statements which means a considerable quantity of collection period entails company owner themselves. Striving to get paid off promptly can end up being an extraordinary struggle and this is precisely why you make use of trucking factoring agencies who are happy to help out truckers specifically.


As all of us determine, trucking is an unbelievably massive industry with lots of agencies out there utilizing hundreds of vehicle drivers. The sad thing is, many of these drivers wind up in money predicaments given that they are still waiting for work from six weeks earlier to actually compensate them. When this is the scenario for a truck business, depending on factoring firms for reinforcement might be the ideal alternative left.


This signifies that a trucking organization can compensate the paychecks of the workers, keep all the vehicles topped off with gas and continue to surmount, grow and expand without consistently waiting for the money which is taking too long to come in. Trucking Establishments running without a factoring system established are leaving themselves at notable danger, as contenders cash out fast and continue to expand.


There's genuinely nothing at all to be troubled about when it comes to employing a Factoring establishment-- they commonly are not like a financial institution or an individual who is going to leave you with a large pile of personal debt to repay. You give them genuine invoices from work you have already accomplished , you are only speeding up the repayment process.


In the Usa, where trucking enterprises prosper, factoring establishments are not considered getting a loan in any capacity. This confidential deal then enables both groups to profit and experience a worry-free future-- it gives the factoring firm a guaranteed resource of income to include in the list and it supplies the trucking company the required funds that they sweated to gain.


The trucking establishment provides their statements to the factoring establishment. The trucking factoring provider then acquire the installment payments from the trucking company's customers. Factoring has been all around for centuries and has been employed for several years by lots of different fields-- but none much more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you work with, it indicates that you are obtaining the cash today and can actually start off putting the money to operate.


Once and for all, an IOU or an invoice is not actually going to fund spendings, is it? For trucking enterprises when the money can be good one day and gone the next, it's up to the drivers to work smartly and to make sure that they are leaving themselves with a notable volume of time and money to get through the week up until they are paid once more.


So the next period your trucking business is bearing some short-term capital concerns and you are spending a bit too much time chasing slowly paying clients, why not begin taking into consideration utilizing a factoring businesses as a way to get your money and give yourself a more worry-free future in the eyes of your trucking personnel and your bank difference?








Traditional Bank Loans


Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.


Benefits of a Trucking Factoring Company Vs. A Bank Loan


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


1. 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. 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. 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. 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. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.


4.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 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very 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.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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