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This is Marie Antoinette - Escaping -
Our Best Trucking Factoring Company
Can Give
Your Trucking Company
The Money Your Company Needs



freight bill factoring companies

freight broker factoring

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freight invoice factoring

Trucking Factoring is useful for a number of reasons. It enables a truck company to raise money without acquiring brand-new debt. While financial obligation is occasionally needed, most trucking companies would choose to raise money without borrowing money. Financial obligation is dangerous, and when it cannot be paid back, assets can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.

To Companies Who Want To Write - but Can't Get Started - Select 

An Invoice Factoring Company Instead Of A Typical Bank Funding

Exactly how to Increase Money Flow Without Loaning -Cash Money flow is among the main reasons businesses fail.

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow money. What is trucking factoring ? One solution is called best trucking factoring company. Trucking Factoring is the procedure of offering accounts receivable to an investor instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial backbone of numerous of America's most effective businesses. Why is this paradoxical ? Because receivable financing is not instructed in business colleges, is rarely discussed in business strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of companies to grow and succeed. Receivable Loan Funding has actually been around for countless years. Accounts Receivable Factoring Companies are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large portion of the retail company 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 large customer finance companies are truly simply big Commercial Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, although you do not make payment up until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from two to four percent of the sale). The Advantages Receivable Financing can provide many benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been provided, a business can factor (sell) its receivables for cash at a little discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Best Trucking Factoring Company offers the ways for a manufacturer to renew stock and make even more items to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for manufacturers: Practically any kind business can benefit from Staffing Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can offer that invoice for the cash to meet those obligations. Using truck factoring companies is a fast and simple process. The factoring company buys the invoice at a price cut, typically a few percentage points less than the face value of the invoice.



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The U.s. Trucking Association
states that there are about
200,000 truck drivers with transportation
companies and
276,000 personal companies trucking
companies licensed to
run in America that transferred,
according to their most current searchings for billions of
products, supplies and
standard materials .
There are a number of typical
carriers either going solo or in
teams on our country
roads transferring these
crucial products to our
stores, manufacturing facilities and ports.

Plustrucking factoring
firms benefit
several of them and offer their
receivable loan facilities
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
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The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

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


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


Click below to find Trucking Companies in the United States:

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

Click below to find Trucking Companies in the United States:

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



West Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 West Truck & Haul was the mastermind of a top-rated accounts receivable in 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. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by West 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. And as spring turmed to summer and summer into the early days of fall, Dale Sullivan, CEO of West felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed West money had jumped ship and decided to leave him holding the bag.


. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.The situation looked dire to Dale Sullivan. Dale was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Edna, and still find no relief from the worry and frustration.


""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Dale would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Dale. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""It's a hard economy. It might be awhile until things get settled up.


""Dale knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Dale walked into his office with a spring in his step, determined to call each and every client who owed money to West Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Dale knew that he was in trouble.


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


""Sure thing Maxine, come on in."" Dale leaned back in his chair and looked expectantly at Maxineerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Dale."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds 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.""""Immediately?"" Dale interrupted.""Immediately, yes"" she added, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.��I see,� Dale said. �And then what?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.


This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Dale studied the documents very closely.""It sounds too good to be true, Maxine,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Dale,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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,"" said Dale.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Dale thought about this and agreed with Maxineerley. The customers who were in debt to West Truck & Haul were professional resources of the company, but they were also long-standing friends. They didn't want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Let me go over this tonight Maxine, and thankyou."" Maxine stood up and left Dale's office, with the nice feeling of knowing that she may just have solved a very serious problem.Dale stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help West with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, West could receive up to fifty-percent cash advances upon load pick-ups. Dale was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Tyler the good news,"" muttered Dale to himself.His son-in-law Tyler had liked the idea of West so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Dale knew the struggles Tyler would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like West was hurting, a little guy like Tyler was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Dale found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Dale looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Dale hadn't discovered freight factoring at just the right time, his business may not be operating today.





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Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Jonathan Reed just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Jonathan is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Reed Trucking Company was at a turning point of growth and Jonathan had to decide if signing with a factoring company was the right way forward.


More than forty years ago Jonathan's father had started this business working as an owner-operator and eventually growing Reed 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 Jonathan's mother had jumped into the cab at times 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 Jonathan's hands and he needed to ensure that this business would be left in great shape for his sons.


There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They 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, Reed Trucking looked weak in a very strong market.


He knew what his father would have said - 'wait, take your time before adding new technology'. Jonathan chuckled, thinking about his father. 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.


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


But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.


Jonathan had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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?


But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. 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. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.


It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Jonathan 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 wouldn't have any problems, nor would they think poorly of Reed 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.


Jonathan stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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 Reed Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons wouldn't be inheriting a financial mess.




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Trucking Factoring  Articles

�So, this is not a loan?� asked Javier Adams, reclining back into his chair and crossing his legs. The woman sitting across the desk from Javier smiled at him, shaking her head.�Not quite,� she said.Javier Adams 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 Bob. His company was called Carter Trucking, named after both of his grandfathers, Derrick and Herman. Both of these men had been very hardworking and had set a great example for Bob.Six months ago disaster struck Bob's business when two out of his fleet of fifteen trucks were taken off the road.


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 Bob's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Javier wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he couldn't possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Javier knew she was employed by a Factoring company and that her name was Mae. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. 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.Javier agreed. It sounded perfect - perhaps too good?.Mae laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Mae smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Mae said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.


Javier filled the form out, with Mae available to help him if he needed it. The profile filled Mae and her company in on Bob�s company, and would help them determine if he was 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 Javier filled out his form, Mae was pretty sure he was a perfect candidate for factoring.When the form was done Mae took it and slid it into her briefcase. She then stood, reached across the desk and shook Bob�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Javier walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.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. Talking to Mae though, learning about factoring, it felt like a weight had been lifted from 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 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.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been 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 six months off, and during that time he decided to create Carter 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 was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn't want to quit - both for himself and for his staff members.And now it seemed as though he wouldn't have to - all because of Factoring. Javier opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.





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Reasons why Trucking Corporations Utilize Factoring Firms.


As the owner of your own business enterprise, you may well be much more than mindful already of the challenge in making certain that capital concerns do not become a dilemma down the line. Anyway, the most horrible thing that can possibly occur for your establishment is to find yourself involved in a long and difficult situation that leaves you forever looking for the money you need to have on an recurring manner.


For any firm in this scenario, the problem can come for waiting for work to lapse and actually be brought in into your statement. Bill of sales, checks, and the like can take a while to actually to be taken care of which can easily leave you with temporary cash flow troubles. Thank goodness, there are approaches out there for firms to explore-- and just one of these is factoring companies.


Factoring companies will, in substitution for your accounts, offer you with the funds today in order that you don't have to fret about the delaying time frame that could make paying off the expenses and obtaining toolsmore difficult. With this kind of arrangement, invoice factoring can become tremendously helpful for plenty of establishments who need to get out of a cash trap which they have discovered themselves in.


Because, basing on the size of the work, it can take up to 60 days for many business enterprises to get compensated then it's important to cover up your own back and definitely not leave yourself resources short to pay off the costs. After all, how many companies have two months revenue just occupying there to address all their spendings until they make money?


This is most especially correct of trucking firms. They often handle tons of accounts which means a huge quantity of collection period involves company owner themselves. Striving to get paid in time can come to be an amazing trouble and this is precisely why you work with truck factoring firms who are pleased to help out truckers mainly.


As most of us realize, trucking is an unbelievably enormous business with a lot of agencies out there employing hundreds of vehicle drivers. Regretfully, quite a few of these drivers end up in cash predicaments since they are still expecting work from six weeks earlier to actually compensate them. When this is the situation for a trucking company, resorting to factoring firms for solutions maybe the very best option left.


This indicates that a truck firm can pay out the paychecks of the people, keep all the trucks topped off with fuel and continue to escalate, rise and expand without continually waiting for the resources which is taking too long to come in. Trucking Establishments operating without a factoring system implemented are leaving themselves at substantial danger, as competitors cash out quickly and carry on to grow.


There's genuinely not much to be troubled about when it comes to employing a Factoring firm-- they commonly are not like a banking company or somebody who is going to leave you with a large stockpile of financial debt to repay. You give them legitimate invoices from work you have already wrapped up , you are only speeding the repayment system.


In the United States, where truck establishments flourish, factoring establishments are not considered taking on loan in any capacity. This private settlement then lets both groups to make money and experience a comfortable future-- it provides the factoring firm a guaranteed asset of money to include in the list and it furnishes the trucking firm the required funds that they worked hard to earn.


The trucking enterprise provides their accounts to the factoring firm. The trucking factoring provider then collect the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been used for decades by plenty of varying business sectors-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it indicates that you are receiving the money today and can actually begin setting the money to operate.


Once and for all, an IOU or an invoice is absolutely not going to fund costs, is it? For trucking establishments when the money can be really good one day and gone the next, it's up to the vehicle drivers to work prudently and to guarantee they are leaving themselves with a notable volume of time and money to get through the week up until they are compensated once more.


So the next time your trucking enterprise is having some temporary cash flow challenges and you are devoting a bit too much time chasing slowly paying clienteles, why not start taking into consideration using a factoring companies as a means to get your money and give yourself a more comfortable future in the eyes of your trucking staff 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.


Trucking Factoring Companies


Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared 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. You Won't Incur Debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.


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


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


4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also don't have to worry about the building up of interest, as every penny in the account is yours to spend on the business.


As you can see 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.


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





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