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Cash Flow Satisfaction- or Else! - Our Freight Factoring Companies Can Give
Your Freight Company The Cash Your Company Needs

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Medium-Size trucking businesses, especially those who have not been in existence for very long, will often discover it hard to secure a loan. Banks are often reluctant to lend money to businesses that do not have a great deal of earnings and assets. They likewise want proof of the viability of a business and hence require that many operations, especially little ones, be in business for a certain amount of time before they are prepared to turn over any money. Due to the fact that of this, a medium-size business commonly has a couple of cash creating alternatives when needs arise. One choice available, however commonly overlooked, is receivable Financing. This is an outstanding way for a small business to acquire money.

 

 

 

 

 

 

 

161 New Ways to Finance Your Company - in This fascinating - Choose A Freight�Invoice Factoring Company  Instead Of A Typical Bank Financing

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

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling accounts receivable to an investor rather than waiting to gather the money from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the monetary backbone of numerous of America's most effective companies. Why is this ironic ? Since commercial factoring is not taught in business colleges, is rarely mentioned in business strategies and is fairly unidentified to the majority of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, enabling countless businesses to grow and succeed. Invoice Factoring has been around for countless years. Receivable Loan Financing Businesses are financiers who pay money for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are truly simply large Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not make payment until you are ready.

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

Receivable Financing offers the ways for a manufacturer to renew inventory and make more products to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for producers: Almost any type business can benefit from Commercial Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can sell that invoice for the cash to meet those obligations. Using trucking factoring companies is a quick and easy process. The factor purchases the invoice at a discount, usually a few percentage points less than the face value of the invoice.

 

 

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The American Trucking Organization
specifies that there are about
205,000 work with truck
companies and
250,000 personal service providers trucking
companies accredited to
run in the U.S. that transferred,
according to their newest searchings for billions of
items, materials and
standard materials .
There are several common
carriers either going solo or in
teams on our nation
roadways transporting these
important products to our
stores, manufacturing facilities and harbors.

Also freight factoring
corporations service
many of them and offer their
accounts receivablesfinancing facilities
nationwideincluding
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

 

Las Vegas is an internationally renowned major resort city known primarily for gambling, shopping, fine dining and nightlife and is the leading financial and cultural center for Southern Nevada. The city bills itself as The Entertainment Capital of the World, and is famous for its mega casino�hotels and associated entertainment. A growing retirement and family city, Las Vegas is the 31st-most populous city in the United States, with a population at the 2010 census of 583,756. The 2010 population of the Las Vegas metropolitan area was 1,951,269. The city is one of the top three leading destinations in the United States for conventions, business and meetings. Today, Las Vegas is one of the top tourist destinations in the world.Established in 1905, Las Vegas was incorporated as a city in 1911. At the close of the 20th century, Las Vegas was the most populous American city founded in that century (a distinction held by Chicago in the 19th century). The city's tolerance for various forms of adult entertainment earned it the title of Sin City, and has made Las Vegas a popular setting for films and television programs.Las Vegas is commonly used to describe not just the city, but areas beyond the city limits - especially the resort areas on and near the Las Vegas Strip - and the Las Vegas Valley. The 4.2 mi (6.8 km) stretch of South Las Vegas Boulevard known as the Strip is in the unincorporated communities of Paradise, Winchester, and Enterprise (Clark County).[The primary drivers of the Las Vegas economy are tourism, gaming and conventions, which in turn feed the retail and restaurant industries.TourismThe major attractions in Las Vegas are the casinos and the hotels, although in recent years other new attractions have begun to emerge. A view of the Las Vegas Valley looking south from the Stratosphere Tower at dusk.Most casinos in the downtown area are located on the Fremont Street Experience, The Stratosphere being one of the exceptions. Fremont East, adjacent to the Fremont Street Experience, was granted variances to allow bars to be closer together, similar to the Gaslamp Quarter of San Diego, the goal being to attract a different demographic than the Strip attracts.Downtown casinos Las VegasMain article: Downtown (Nevada gaming area)The Hotel & Casino, located downtown along the Fremont Street Experience, is the oldest continuously operating hotel and casino in Las Vegas; it opened in 1906 as the Hotel Nevada.The year 1931 marked the opening of the Northern Club (now the La Bayou). The most notable of the early casinos may have been while it was run by Benny .Boyd Gaming has a major presence downtown operating the Casino. Other casinos operations include the , which are also located downtown along the Fremont Street Experience.Downtown casinos that have undergone major renovations and revitalization in recent years include the .Las Vegas StripMain article: Las Vegas StripThe center of the gambling and entertainment industry, however, is located on the Las Vegas Strip, outside the city limits in the surrounding unincorporated communities of Paradise and Winchester in Clark County. The largest and most notable casinos and buildings are located there.Development The Strip in late 2009 Astronaut photograph of Las Vegas at nightSee also: List of tallest buildings in Las VegasWhen The Mirage opened in 1989, it started a trend of major resort development on the Las Vegas Strip outside of the city. This resulted in a drop in tourism in the downtown area, but many recent projects have increased the number of visitors to downtown.An effort has been made by city officials to diversify the economy by attracting health-related, high-tech and other commercial interests. No state tax for individuals or corporations, as well as a lack of other forms of business-related taxes, have aided the success of these efforts.With the Strip expansion in the 1990s, downtown Las Vegas - which has maintained an old Las Vegas feel - began to suffer. However, in recent years the city has made strides in turning around the fortunes of this urban area.The Fremont Street Experience was built in an effort to draw tourists back to the area, and has been popular since its startup in 1995.The city purchased 61 acres (25 ha) of property from the Union Pacific Railroad in 1995 with the goal of creating a better draw for more people to the downtown area. In 2004, Las Vegas Mayor Oscar Goodman announced plans for Symphony Park, which will include residential and office highrises.Already operating in Symphony Park is the Cleveland Clinic Lou Ruvo Center for Brain Health (opened in 2010), The Smith Center for the Performing Arts (opened in 2012) and the DISCOVERY Children's Museum (opened in 2013).On land across from Symphony Park, the World Market Center Las Vegas opened in 2005. It currently encompasses three large buildings with a total of 5.1 million square feet. Trade shows for the furniture and furnishing industries are held there semiannually.Also located nearby is the Las Vegas Premium Outlets - North, one of the top-performing outlet centers in its company's portfolio. It is currently undergoing a second expansion.A new Las Vegas City Hall opened in February 2013 on downtown's Main Street, another urban area ripe for development. The former City Hall building is now occupied by the corporate headquarters for the major online retailer, , which opened downtown in 2013.has taken a personal, as well as a professional, interest in the urban area and is contributing $350 million of his personal wealth toward a multifaceted revitalization effort called the Downtown Project. This involves investing $200 million in real estate, $50 million in small businesses, $50 million in education and $50 million in technology start

 

 

Watch Our Factoring YouTube Video For More Information

 

Invoice factoring company Calculator
This calculator will show you how much you will make by using our invoice factoring company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our invoice factoring company
Enter the principal balance of your invoice factoring company
(call your invoice factoring company lender and ask for the current payoff amount):
Enter the amount of your monthly invoice factoring company payment:
(invoice amount):
Enter the your invoice factoring company'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. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. 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.

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.

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

 

"

Foster 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 heady times from 2002 to 2007, Foster was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.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 Foster 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 Foster, Clarence Graham, 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 something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't 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 could not 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. The had just gone!.To Clarence Graham the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Phyllis, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Clarence would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Clarence said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Phyllis could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Clarence knew very well that Phyllis was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Clarence strolled into his office and was determined to sit down and make every phone call to every client who had owed Foster money. 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. 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, Clarence knew that he was in trouble.

 

Poor Clarence 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.

 

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

 

""Sure thing Virginia, come on in."" Clarence leaned back in his chair and looked expectantly at Virginiaerely.""Well Clarence, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Virginiaerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Clarence interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Clarence 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. 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. We come to an agreement and the funding starts pouring out.�Clarence was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Virginia - it just sounds too good to be true"", Clarence said quietly.""Yes, I know; that's exactly what I thought at the beginning. 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, Clarence,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Clarence.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Clarence said.Clarence took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Clarence took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Foster Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. Clarence knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Virginia, and thankyou."" Virginia stood up and left Clarence's office, with the nice feeling of knowing that she may just have solved a very serious problem.Clarence 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 Foster 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. Clarence was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Clarence was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Joseph the good news,"" Clarence muttered to himself.Joseph is Clarence's son-in-law, and he really admired the ideas behind Foster, so much so that only two years before he had started his own transportation service business. At that time Clarence knew the struggles Joseph would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Foster was struggling then the little guys, like Joseph, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Clarence was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Clarence was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Clarence looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Clarence hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

Las Vegas is an internationally renowned major resort city known primarily for gambling, shopping, fine dining and nightlife and is the leading financial and cultural center for Southern Nevada. The city bills itself as The Entertainment Capital of the World, and is famous for its mega casino�hotels and associated entertainment. A growing retirement and family city, Las Vegas is the 31st-most populous city in the United States, with a population at the 2010 census of 583,756. The 2010 population of the Las Vegas metropolitan area was 1,951,269. The city is one of the top three leading destinations in the United States for conventions, business and meetings. Today, Las Vegas is one of the top tourist destinations in the world.Established in 1905, Las Vegas was incorporated as a city in 1911. At the close of the 20th century, Las Vegas was the most populous American city founded in that century (a distinction held by Chicago in the 19th century). The city's tolerance for various forms of adult entertainment earned it the title of Sin City, and has made Las Vegas a popular setting for films and television programs.Las Vegas is commonly used to describe not just the city, but areas beyond the city limits - especially the resort areas on and near the Las Vegas Strip - and the Las Vegas Valley. The 4.2 mi (6.8 km) stretch of South Las Vegas Boulevard known as the Strip is in the unincorporated communities of Paradise, Winchester, and Enterprise (Clark County).[The primary drivers of the Las Vegas economy are tourism, gaming and conventions, which in turn feed the retail and restaurant industries.TourismThe major attractions in Las Vegas are the casinos and the hotels, although in recent years other new attractions have begun to emerge. A view of the Las Vegas Valley looking south from the Stratosphere Tower at dusk.Most casinos in the downtown area are located on the Fremont Street Experience, The Stratosphere being one of the exceptions. Fremont East, adjacent to the Fremont Street Experience, was granted variances to allow bars to be closer together, similar to the Gaslamp Quarter of San Diego, the goal being to attract a different demographic than the Strip attracts.Downtown casinos Las VegasMain article: Downtown (Nevada gaming area)The Hotel & Casino, located downtown along the Fremont Street Experience, is the oldest continuously operating hotel and casino in Las Vegas; it opened in 1906 as the Hotel Nevada.The year 1931 marked the opening of the Northern Club (now the La Bayou). The most notable of the early casinos may have been while it was run by Benny .Boyd Gaming has a major presence downtown operating the Casino. Other casinos operations include the , which are also located downtown along the Fremont Street Experience.Downtown casinos that have undergone major renovations and revitalization in recent years include the .Las Vegas StripMain article: Las Vegas StripThe center of the gambling and entertainment industry, however, is located on the Las Vegas Strip, outside the city limits in the surrounding unincorporated communities of Paradise and Winchester in Clark County. The largest and most notable casinos and buildings are located there.Development The Strip in late 2009 Astronaut photograph of Las Vegas at nightSee also: List of tallest buildings in Las VegasWhen The Mirage opened in 1989, it started a trend of major resort development on the Las Vegas Strip outside of the city. This resulted in a drop in tourism in the downtown area, but many recent projects have increased the number of visitors to downtown.An effort has been made by city officials to diversify the economy by attracting health-related, high-tech and other commercial interests. No state tax for individuals or corporations, as well as a lack of other forms of business-related taxes, have aided the success of these efforts.With the Strip expansion in the 1990s, downtown Las Vegas - which has maintained an old Las Vegas feel - began to suffer. However, in recent years the city has made strides in turning around the fortunes of this urban area.The Fremont Street Experience was built in an effort to draw tourists back to the area, and has been popular since its startup in 1995.The city purchased 61 acres (25 ha) of property from the Union Pacific Railroad in 1995 with the goal of creating a better draw for more people to the downtown area. In 2004, Las Vegas Mayor Oscar Goodman announced plans for Symphony Park, which will include residential and office highrises.Already operating in Symphony Park is the Cleveland Clinic Lou Ruvo Center for Brain Health (opened in 2010), The Smith Center for the Performing Arts (opened in 2012) and the DISCOVERY Children's Museum (opened in 2013).On land across from Symphony Park, the World Market Center Las Vegas opened in 2005. It currently encompasses three large buildings with a total of 5.1 million square feet. Trade shows for the furniture and furnishing industries are held there semiannually.Also located nearby is the Las Vegas Premium Outlets - North, one of the top-performing outlet centers in its company's portfolio. It is currently undergoing a second expansion.A new Las Vegas City Hall opened in February 2013 on downtown's Main Street, another urban area ripe for development. The former City Hall building is now occupied by the corporate headquarters for the major online retailer, , which opened downtown in 2013.has taken a personal, as well as a professional, interest in the urban area and is contributing $350 million of his personal wealth toward a multifaceted revitalization effort called the Downtown Project. This involves investing $200 million in real estate, $50 million in small businesses, $50 million in education and $50 million in technology start

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Jessie Lynch let the phone ring on his desk. 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. Lynch 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 Jessie's father had started this business working as an owner-operator and eventually growing Lynch Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Jessie�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. But now things were different: the company was in Jessie's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Lynch 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. Every time he had to turn down a request, Lynch Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jessie allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that 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.

 

Jessie believed a successful man is always thinking of his next step. What would be the next step for Lynch Trucking? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? 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. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

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

 

However, it all turned out to be very simple. 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the 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. 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 Jessie 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 Jessie because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Lynch 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.

 

Jessie stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Jessie could actually expand Lynch 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

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�So It is not a loan?� Andy Sanders asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Andy smiled at him, shaking her head.�No, not exactly,� she stated.Andy was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Andre. He named his business Bryant Trucking, named after Tracy and Herbert, his two grandfathers. Both of these men had been very hardworking and had set a great example for Andre.Disaster had struck half a year ago, when two trucks in Andre�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Andre'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 Andy had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Andy wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Nellie and she worked for a factoring company. Andy 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.She sat there now, and 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.Andy nodded. It sounded good to him, almost too good.Nellie laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Nellie smiled, agreeing. �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 why we do what we do.""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,� said Nellie with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Andy completed the form, with Nellie offering advice as needed.

 

The profile filled Nellie and her company in on Andre�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. Listening as Andy filled out his form, Nellie was pretty sure he was a perfect candidate for factoring.When the form was done Nellie took it and slid it into her briefcase. She then stood, reached across the desk and shook Andre�s hand. He stood before they shook as well, and then smiled. Andy walked Nellie 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 had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Nellie 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.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of 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. At twenty-two and straight out of school he had opened a restaurant. It had been 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 six months off, and during that time he decided to create Bryant Trucking. And that's exactly what he did. 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 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 know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Andy 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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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 do not 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 is 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 are not 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 is 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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not 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 will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. 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 do not 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 do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see 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.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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