Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Do Your Receivables Turn as Quickly as You Would Like - Our Factoring Company Can Provide
Your Trucking Company The Money You Want

factoringinformation.org

factoring freight brokers only

freight factoring definition

factoring trucking receivables

trucking factoring services

Small freight brokerage businesses, particularly those who have actually not been in existence for extremely long, will commonly discover it tough to protect a loan. Banks are often hesitant to provide cash to companies that do not have a great deal of earnings and possessions. They also want evidence of the practicality of a business and therefore need that most operations, specifically small ones, be in business for a particular amount of time before they are eager to hand over any cash. Because of this, a medium-size business frequently has a couple of cash creating choices when needs develop. One alternative available, however frequently neglected, is invoice factoring. This is an exceptional method for a small company to acquire money.

 

 

 

 

 

 

 

Cash For Companies. Tell Us What You Want - Choose An Invoice Factoring Company Instead Of A Typical Bank Funding

How to Increase Money Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.

At one time or another, every company, even effective ones, have experienced bad money 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 financing. Other options are available and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Truck Factoring is the procedure of selling invoices to a financier instead of waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial foundation of numerous of America's most successful businesses. Why is this ironic ? Because commercial factoring is not instructed in business colleges, is rarely mentioned in company plans and is relatively unidentified to the majority of most of American company people.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of companies to grow and succeed. Receivable Loan Funding has been around for countless years. Truck Factoring Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are truly just large Invoice Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not pay up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Benefits Factoring can offer many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been delivered, a company 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 needs that can be met with instant  money.

Receivable Funding provides the ways for a manufacturer to renew inventory and make more products to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for producers: Almost any type business can benefit from Commercial Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can sell that invoice for the money to meet those obligations. Using truck factoring companies is a quick and easy process. The factor buys the invoice at a price cut, usually a couple of percentage points less than the face value of the invoice.

 

 

Please call our
freight factoring experts at
1 - 888-239-9162
or

E-mail Us
or complete the
OnLine
Trucking Factoring Request Kind

 

 

tacoma-factoring-companies

 

The U.s. Truck Association
specifies that there are about
195,000 employees with truck
companies and
300,000 private providers trucking
firms certified to
run in the States that transferred,
according to their newest data of millions
products, materials and
standard products .
There are several common
carriers either going solo or in
teams on our country
roads transferring these
crucial products to our
shops, factories and harbors.

Moreover freight bill factoring
corporations benefit
many of them and offer their
receivable loan facilities
countrywidecomprising
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

 

"

Tacoma (/t?'ko?m?/, US dict: t?�ko'�m?) is a mid-sized urban port city in and the county seat of Pierce County, Washington, United States.[6] The city is on Washington's Puget Sound, 32 miles (51 km) southwest of Seattle, 31 miles (50 km) northeast of the state capital, Olympia, and 58 miles (93 km) northwest of Mount Rainier National Park. The population was 198,397, according to the 2010 census.[7] Tacoma is the second-largest city in the Puget Sound area and the third largest in the state. Tacoma also serves as the center of business activity for the South Sound region, which has a population of around 1 million people.Tacoma adopted its name after the nearby Mount Rainier, originally called Mount Takhoma or Mount Tahoma. It is known as the ""City of Destiny"" because the area was chosen to be the western terminus of the Northern Pacific Railroad in the late 19th century. The decision of the railroad was influenced by Tacoma's neighboring deep-water harbor, Commencement Bay. By connecting the bay with the railroad Tacoma's motto became ""When rails meet sails."" Today, Commencement Bay serves the Port of Tacoma, a center of international trade on the Pacific Coast and Washington state's largest port.Like most central cities, Tacoma suffered a prolonged decline in the mid-20th century as a result of suburbanization and divestment. Since the 1990s, developments in the downtown core include the University of Washington Tacoma; Tacoma Link, the first modern electric light rail service in the state; the state's highest density of art and history museums; and a restored urban waterfront, the Thea Foss Waterway. Neighorborhoods such as the 6th Avenue District have become revitalized.Tacoma-Pierce County has been named one of the most livable areas in the country.[8] Tacoma was also recently listed as the 19th most walkable city in the country.[9] In contrast, the city is also ranked as the most stressed-out city in the country in a 2004 survey.[10] In 2006, women's magazine Healthy City"" in the United States.[11] Tacoma is famous for the 1940 collapse of the Tacoma Narrows Bridge. Prior to that event, Tacoma was most noted for the Tacoma riot of 1885.

 

"

 

Watch Our Freight Factoring Companies 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:

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.

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

 

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 Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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 Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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.

 

"

Fowler 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 heady times from 2002 to 2007, Fowler was a top rated accounts receivable mastermind of 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.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Fowler 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 Fowler, Allan Evans, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Fowler money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Fowler hadn't gone elsewhere. The had just gone!.To Allan Evans the situation looked desperate. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Jo, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Allan would stare off for a moment and then close 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 know what it is,"" Allan said. ""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 is a hard economy. It might be awhile until things get settled up.

 

""Jo was trying so hard to support her husband in these worrying times, while Allan was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Allan strolled into his office and was determined to sit down and make every phone call to every client who had owed Fowler money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Allan knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Allan knew that he was in trouble.

 

Poor Allan 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.

 

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

 

""Sure thing Megan, come on in."" Allan relaxed back into his chair and looked up at Megan.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Allan."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of 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?"" Allan interrupted.""Immediately, yes"" she added, ""it is actually very simple. 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�s a broad view.""Allan replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Allan studied the documents very closely.""It sounds too good to be true, Megan,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Allan: 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, Allan,"" 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. Apparently they can figure this all out in two to four days.

 

""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,"" said Allan.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Allan thought about this and agreed with Megan. The clients who owed them money were long standing friends and professional resources of Fowler. Just because they were experiencing difficulties paying their own bills now, Allan was very concerned about losing these relationships. Allan knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Megan, thank you."" Megan nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Allan 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 Fowler 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. Allan was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Allan 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.""Well, I'll have to tell Wade about this,"" Allan muttered to himself.Wade is Allan's son-in-law, and he really admired the ideas behind Fowler, so much so that only two years before he had started his own transportation service business. Allan knew then what struggles Wade would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Fowler was struggling then the little guys, like Wade, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Allan 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. Allan recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Tacoma (/t?'ko?m?/, US dict: t?�ko'�m?) is a mid-sized urban port city in and the county seat of Pierce County, Washington, United States.[6] The city is on Washington's Puget Sound, 32 miles (51 km) southwest of Seattle, 31 miles (50 km) northeast of the state capital, Olympia, and 58 miles (93 km) northwest of Mount Rainier National Park. The population was 198,397, according to the 2010 census.[7] Tacoma is the second-largest city in the Puget Sound area and the third largest in the state. Tacoma also serves as the center of business activity for the South Sound region, which has a population of around 1 million people.Tacoma adopted its name after the nearby Mount Rainier, originally called Mount Takhoma or Mount Tahoma. It is known as the ""City of Destiny"" because the area was chosen to be the western terminus of the Northern Pacific Railroad in the late 19th century. The decision of the railroad was influenced by Tacoma's neighboring deep-water harbor, Commencement Bay. By connecting the bay with the railroad Tacoma's motto became ""When rails meet sails."" Today, Commencement Bay serves the Port of Tacoma, a center of international trade on the Pacific Coast and Washington state's largest port.Like most central cities, Tacoma suffered a prolonged decline in the mid-20th century as a result of suburbanization and divestment. Since the 1990s, developments in the downtown core include the University of Washington Tacoma; Tacoma Link, the first modern electric light rail service in the state; the state's highest density of art and history museums; and a restored urban waterfront, the Thea Foss Waterway. Neighorborhoods such as the 6th Avenue District have become revitalized.Tacoma-Pierce County has been named one of the most livable areas in the country.[8] Tacoma was also recently listed as the 19th most walkable city in the country.[9] In contrast, the city is also ranked as the most stressed-out city in the country in a 2004 survey.[10] In 2006, women's magazine Healthy City"" in the United States.[11] Tacoma is famous for the 1940 collapse of the Tacoma Narrows Bridge. Prior to that event, Tacoma was most noted for the Tacoma riot of 1885.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Henry Campbell just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Henry is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Campbell 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.

 

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

 

To move Campbell 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, Campbell Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Henry allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� 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.

 

Henry believed a successful man is always thinking of his next step. How would he take Campbell Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Henry to do his homework. Henry had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Henry it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Henry because he and his father had built up good strong relationships over decades with their list of clients. 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 Campbell Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Henry stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Campbell 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 would not be inheriting a financial mess.

 

"

 

 

 

 

Truckingfactors.Org

 

Factoringfortrucking.Com

 

View Our Factoring Video For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Wesley Hunt, reclining back into his chair and crossing his legs. The woman sitting across the desk from Wesley smiled at him, shaking her head.�Not quite,� she said.Wesley Hunt owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Gene. He named his business Hart Trucking, named after Enrique and Ian, his two grandfathers. Both of these men had been very hardworking and had set a great example for Gene.Disaster had struck half a year ago, when two trucks in Gene�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Wesley depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Wesley had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Wesley 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.That�s where the woman across the desk came in. Her name was Katherine and she worked for a factoring company. Wesley 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.Katherine explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Wesley nodded. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Katherine nodded. �Yes, we get a lot of that. 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.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Katherine with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Wesley completed the form, with Katherine offering advice as needed.

 

The profile filled Katherine and her company in on Gene�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Wesley completed his form, Katherine listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Katherine took it and slid it into her briefcase. She then stood, reached across the desk and shook Gene�s hand. He also stood up, and they smiled at each other. Wesley walked Katherine 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 felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Katherine and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain 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 there, he was on the right path, and he was working to make things right.Wesley couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. 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 long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Hart 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 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 didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Gene's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The reason why Truck Establishments Employ Factoring Firms.

 

As the operator of your own company, you may be much more than aware already of the difficulty in making certain that capital issues do not become a problem down the line. Anyway, the most awful thing that can quite possibly transpire for your enterprise is to find yourself swept up in a long and problematic predicament that leaves you forever trying to find the finances you really need on an ongoing manner.

 

For any type of firm in this situation, the complication can come for waiting for work to lapse and actually be brought in into your account. Statements, checks, and the like could take some time to actually to be taken care of which could leave you with short-term available resources issues. Luckily, there are opportunities out there for establishments to check out-- and just one of these is factoring companies.

 

Factoring companies will, in trade for your statements, provide you with the funds right now to make sure that you do not need to fret about the waiting period that could make paying off the bills and acquiring materialsmore difficult. With this sort of setup, invoice factoring can end up being incredibly beneficial for countless establishments who ought to get out of a money trap which they have discovered themselves in.

 

Given that, depending upon the size of the work, it can take up to 60 days for several business enterprises to get paid then it is vital to blanket your own back and not leave yourself money short to pay the monthly bills. After all, how many companies possess two months profits just lying there to handle all their bills till they get paid?

 

This is particularly correct of truck firms. They generally manage great deals of statements which means a huge amount of collection period demands business owner themselves. Attempting to get paid out promptly can come to be an amazing struggle and this is the key reasons why you work with truck factoring firms who are glad to help out truckers specifically.

 

As most of us know, trucking is an exceptionally huge field with many agencies out there hiring hundreds of vehicle drivers. The sad thing is, several of these drivers wind up in income predicaments for the reason that they are still expecting work from six weeks in the past to actually compensate them. When this is the scenario for a truck firm, turning to factoring providers for solutions might be the most suitable choice left.

 

This means that a truck business can pay out the paychecks of the staff, keep all the trucks filled with fuel and continue to surmount, thrive and expand without constantly waiting for the money which is taking too lengthy to come in. Trucking Establishments functioning without a factoring program implemented are leaving themselves at considerable danger, as competitors cash out fast and continue to develop.

 

There's genuinely very little to be troubled about when it comes to employing a Factoring business-- they commonly are not like a financial institution or any individual who is going to leave you with a large stockpile of financial debt to repay. You give them legitimate invoices from job you have already finished , you are only just expediting the payment process.

 

In the United states of America, where truck establishments flourish, factoring agencies are not considered taking on loan in any capacity. This confidential agreement then allows both parties to make money and delight in a comfortable future-- it provides the factoring agency a warranted resource of earnings to add to the list and it provides the trucking business the needed funds that they worked hard to acquire.

 

The trucking company presents their statements to the factoring firm. The trucking factoring provider then receive the payment amounts from the trucking company's customers. Factoring has been in existence for hundreds of years and has been used for long times by a lot of varying industries-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it means that you are obtaining the cash today and can actually start off putting the funds to perform.

 

After all, an IOU or an invoice is not going to pay for overheads, is it? For trucking establishments when the resources can be great one day and gone the next, it is up to the vehicle drivers to work prudently and to ascertain they are leaving themselves with a notable volume of time and money to get through the week up until they are paid for again.

 

So the next moment your trucking business is having some momentary cash flow concerns and you are devoting excessive time chasing slowly paying clients, why not begin considering using a factoring companies as a way to get your money and give yourself a more comfortable future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

"

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. 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.

 

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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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 benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. 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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your 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.

 

"

 

 

 

 

Factoring Companies by City