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How To Get More Cash - Our Accounts Receivable Factoring Company Can Provide
Your Freight Company The Money Your Company Needs

smallbusinessfactoring.org

factoring for trucking companies

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trucking invoice factoring companies

transportation factoring trucking

Invoice Factoring is beneficial for several factors. It enables a truck company to raise money without obtaining brand-new financial obligation. While financial obligation is in some cases needed, a lot of truck companies would choose to raise money without obtaining cash. Debt is dangerous, and when it can not be repaid, possessions can be repossessed. If the debt is big enough, it might even require a freight brokerage out of business.

 

 

 

 

 

 

 

To Companies Who Want To Write - but Can't Get Started - Choose An Invoice Factoring Company Instead Of A Traditional Bank Funding

How to Increase Cash Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One option is called truck factoring. Trucking Factoring is the procedure of offering accounts receivable to a financier rather than waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial foundation of many of America's most successful businesses. Why is this paradoxical ? Because invoice factoring is not instructed in business colleges, is rarely discussed in company strategies and is relatively unknown to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of companies to grow and succeed. Staffing Factoring has actually been around for thousands of years. Commercial Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance companies are really just big Staffing Factoring Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not pay until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Commercial Factoring can provide numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has currently been delivered, a business can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be satisfied with instant  money.

Receivable Loan Financing offers the means for a manufacturer to renew stock and make more products to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a money management device for producers: Almost any type company can take advantage of Trucking Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those obligations. Using truck factoring companies is a quick and easy process. The factor buys the invoice at a price cut, typically a couple of portion points less than the stated value of the invoice.

 

 

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The American Truck Organization
mentions that there are about
205,000 work with truck
companies and
276,000 personal service providers trucking
companies licensed to
run in America that transferred,
according to their newest searchings for billions of
items, materials and
fundamental materials .
There are numerous typical
providers either going solo or in
groups on our nation
highways transferring these
important items to our
shops, factories and harbors.

And freight factoring
businesses help
many of them and offer their
receivable loan facilities
nationallyincluding
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

 

"

The economy of San Diego is iuenced by its deepwater port, which includes the only major submarine and shipbuilding yards on the West Coast. Several major national defense contractors were started and are headquartered in San Diego, including ]San Diego hosts the largest naval fleet in the world: it was in 2008 was home to 53 ships, over 120 tenant commands, and more than 35,000 sailors, soldiers, Department of Defense civilian employees and contractors. San Diego is home to the California National Guard's 79th Infantry Brigade Combat team. About 5 percent of all civilian jobs in the county are military-related, and 15,000 businesses in San Diego County rely on Department of Defense contracts. F/A-18 Hornet flying over San Diego and the USS John C. StennisMilitary bases in San Diego include US Navy facilities, Marine Corps bases, and Coast Guard stations. Marine Corps institutions in the city of San Diego include Marine Corps Air Station Miramar and Marine Corps Recruit Depot San Diego. The Navy has several institutions in the city, including Naval Base Point Loma, Naval Base San Diego (also known as the 32nd Street Naval Station), Naval Medical Center San Diego (also known as Bob Wilson Naval Hospital), the Space and Naval Warfare Systems Center San Diego, and Space and Naval Warfare Systems Command (""SPAWAR""). Also near San Diego but not within the city limits are Naval Amphibious Base Coronado and Naval Air Station North Island (which operates Naval Auxiliary Landing Facility San Clemente Island, Silver Strand Training Complex, and the Outlying Field Imperial Beach). San Diego is known as the ""birthplace of naval aviation"".The city is ""home to the majority of the U.S. Pacific Fleet's surface combatants, all of the Navy's West Coast amphibious ships and a variety of Coast Guard and Military Sealift Command vessels"". Two Nimitz class supercarriers, (the USS Carl Vinson, and USS Ronald Reagan), five amphibious assault ships, several Los Angeles-class ""fast attack"" submarines, the Hospital Ship USNS Mercy, carrier and submarine tenders, destroyers, cruisers, frigates, and many smaller ships are home-ported there. Four Navy vessels have been named USS San Diego.

 

"

 

Watch Our Truck Factoring YouTube Videos For More Information

 

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

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

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

 

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

 

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

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

 

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. 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

 

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.

 

 

"

Johnson Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Johnson Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Johnson 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 Johnson, John Cooper, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Johnson money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Johnson hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing John Cooper to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. After work he would confide in his wife, Mary, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.John 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 then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" John 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."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""John 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 John walked into his office with a spring in his step, determined to call each and every client who owed money to Johnson 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, John knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Lynnerley knocked at his door.

 

""Can I have a word with you John?"" she asked standing in the doorway.

 

""Of course Lynn, please come in."" John leaned back in his chair and looked expectantly at Lynnerely.""Well John, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Lynnerley 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.""John interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is 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.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� John 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.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�John leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Lynn,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, John: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, John,"" she underlined a paragraph on the paper 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. 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,"" John said.John took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""John thought about this and agreed with Lynnerley. The clients who owed them money were long standing friends and professional resources of Johnson. John wasn't prepared to lose these relationships just because they were having financial issues at the moment. John knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Lynn, and thankyou."" Lynn nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped John keep the shirt on his back, and possibly hers too.John sat behind his desk and looked over the details Lynn had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Johnson 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. In fact, Johnson could receive up to fifty-percent cash advances upon load pick-ups. John 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 Eugene the good news,"" John muttered to himself.Eugene is John's son-in-law, and he really admired the ideas behind Johnson, so much so that only two years before he had started his own transportation service business. At that time John knew the struggles Eugene would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Johnson was struggling then the little guys, like Eugene, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and John was soon 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, John 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. John looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

The economy of San Diego is iuenced by its deepwater port, which includes the only major submarine and shipbuilding yards on the West Coast. Several major national defense contractors were started and are headquartered in San Diego, including ]San Diego hosts the largest naval fleet in the world: it was in 2008 was home to 53 ships, over 120 tenant commands, and more than 35,000 sailors, soldiers, Department of Defense civilian employees and contractors. San Diego is home to the California National Guard's 79th Infantry Brigade Combat team. About 5 percent of all civilian jobs in the county are military-related, and 15,000 businesses in San Diego County rely on Department of Defense contracts. F/A-18 Hornet flying over San Diego and the USS John C. StennisMilitary bases in San Diego include US Navy facilities, Marine Corps bases, and Coast Guard stations. Marine Corps institutions in the city of San Diego include Marine Corps Air Station Miramar and Marine Corps Recruit Depot San Diego. The Navy has several institutions in the city, including Naval Base Point Loma, Naval Base San Diego (also known as the 32nd Street Naval Station), Naval Medical Center San Diego (also known as Bob Wilson Naval Hospital), the Space and Naval Warfare Systems Center San Diego, and Space and Naval Warfare Systems Command (""SPAWAR""). Also near San Diego but not within the city limits are Naval Amphibious Base Coronado and Naval Air Station North Island (which operates Naval Auxiliary Landing Facility San Clemente Island, Silver Strand Training Complex, and the Outlying Field Imperial Beach). San Diego is known as the ""birthplace of naval aviation"".The city is ""home to the majority of the U.S. Pacific Fleet's surface combatants, all of the Navy's West Coast amphibious ships and a variety of Coast Guard and Military Sealift Command vessels"". Two Nimitz class supercarriers, (the USS Carl Vinson, and USS Ronald Reagan), five amphibious assault ships, several Los Angeles-class ""fast attack"" submarines, the Hospital Ship USNS Mercy, carrier and submarine tenders, destroyers, cruisers, frigates, and many smaller ships are home-ported there. Four Navy vessels have been named USS San Diego.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Aaron Bennett 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. Bennett 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 Aaron's father had started this business working as an owner-operator and eventually growing Bennett 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 Aaron'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. Now the company was solely in Aaron�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

His father would have told him to wait and to take his time adding on new technology. Aaron chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� 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. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Aaron believed a successful man is always thinking of his next step. What would be the next step for Bennett 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.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Aaron 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?

 

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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. 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 Aaron because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Bennett Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Aaron 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. With the capabilities of this new cash flow, Aaron could actually expand Bennett Trucking Company further across the country and perhaps even go international into Canada. 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 would not be inheriting a financial mess.

 

"

 

 

View Our Truck Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Shawn Simpson asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Shawn smiled at him, shaking her head.�No, not exactly,� she said.Shawn 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 Clayton. His company was called Washington Trucking, named after both of his grandfathers, Lawrence and Jaime. Both of these men had been very hardworking and had set a great example for Clayton.Six months ago disaster struck Clayton's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Clayton's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not 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.Shawn was an excellent business man, and he certainly hadn't done anything wrong. 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 Norma and she worked for a factoring company. 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.Norma 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.Shawn nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Norma smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Norma said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Shawn filled the form out, with Norma available to help him if he needed it. The profile filled Norma and her company in on Clayton�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. As Shawn completed his form, Norma listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Norma took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Clayton's hand. He also stood up, and they smiled at each other. Shawn walked Norma to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Norma 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 terrifying panic attacks that occurred regardless of 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.Shawn couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Washington Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Shawn opened his eyes, sat forward, turned his computer on. He had things 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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More Trucking Factoring Company Story Articles

Reasons why Truck Establishments Work with Factoring Companies.

 

As the operator of your own firm, you may be much more than conscious already of the challenge in making certain that capital matters do not become a predicament down the line. Anyway, the worst thing that can possibly happen for your establishment is to find yourself involved in a long and difficult condition that leaves you forever searching for the cash you require on an ongoing basis.

 

For pretty much any enterprise in this instance, the complication can come for waiting for work to clear up and actually be paid out into your account. Invoices, checks, and the like can take some time to actually to be taken care of which can certainly leave you with temporary capital difficulties. Thank goodness, there are solutions out there for companies to delve into-- and among these is factoring firms.

 

Factoring providers will, in exchange for your invoices, supply you with the resources immediately in order that you do not need to stress over the lingering time frame which could make paying the bills and obtaining toolsmore challenging. With this style of system, invoice factoring can end up being incredibly helpful for a lot of firms who have to get out of a cash lure which they have found themselves in.

 

Because, basing on the size of the job, it can take up to 60 days for several firms to get compensated then it is important to take care of your own back and certainly not leave yourself resources short to pay off the expenses. After all, how many enterprises have two months income just occupying there to deal with all their spendings till they make money?

 

This is especially correct of trucking enterprises. They usually handle tons of statements which means a significant amount of collection time involves business owner themselves. Seeking to get paid off promptly can develop into an unbelievable inconvenience and this is exactly why you employ truck factoring agencies who are pleased to help out truckers specifically.

 

As all of us understand, trucking is an astonishingly massive field with countless organizations out there utilizing hundreds of vehicle drivers. Regretfully, plenty of these drivers land up in income problems considering that they are still awaiting work from six weeks earlier to actually compensate them. When this is the condition for a truck firm, consulting factoring firms for help could be the best option left.

 

This implies that a trucking firm can pay off the salaries of the staff, keep all the vehicles refilled with fuel and continue to go up, flourish and expand without consistently waiting for the resources which is taking too prolonged to come in. Trucking Businesses working without a factoring program established are leaving themselves at significant risk, as rivals cash out promptly and carry on to grow.

 

There's genuinely very little to be distressed about when it comes to utilizing a Factoring firm-- they typically are not like a financial institution or a person who is going to leave you with a huge heap of financial debt to repay. You give them legitimate invoices from work you have already finished , you are only just quickening the repayment process.

 

In the Usa, where trucking establishments do well, factoring companies are not considered borrowing in any capacity. This confidential deal then lets both groups to benefit and take joy in a convenient future-- it gives the factoring company a warranted asset of cash flow to add to the list and it provides the trucking business the required finances that they sweated to gain.

 

The trucking establishment gives their invoices to the factoring establishment. The trucking factoring business then obtain the payment amounts from the trucking company's customers. Factoring has been in existence for hundreds of years and has been used for decades by lots of different fields-- but none much more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending upon who you partner with, it indicates that you are receiving the money today and can actually begin setting the cash to work.

 

After all, an IOU or an invoice is definitely not going to finance spendings, is it? For trucking establishments when the hard earned cash can be really good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a notable quantity of time and money to get through the week till they are handed over again.

 

So the next occasion your trucking establishment is having some short-term cash flow issues and you are shelling out too much time chasing sluggish paying clienteles, why not start off thinking of utilizing a factoring companies as a method to get your money and give yourself a more pleasant future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it 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. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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