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161 New Ways to Finance Your Company - in This fascinating -

Our Truck Factoring Company

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Arkansas Factoring Companies

 

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best trucking factoring company

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Medium-Size truck businesses, especially those who have actually not been around for very long, will typically find it challenging to secure a loan. Banks are typically reluctant to lend cash to businesses that do not have a lot of earnings and possessions. They also want proof of the viability of a business and thus need that a lot of operations, particularly little ones, be in company for a particular quantity of time before they want to hand over any money. Because of this, a medium-size business often has few cash producing choices when needs occur. One alternative available, but commonly neglected, is factoring. This is an excellent method for a small company to acquire money.

 

 

 

 

 

 

 

How To Rob Banks Legally - Select A Freight�Invoice Factoring Company  Instead Of A Typical Bank Funding

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

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

Money flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow. Exactly what is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of selling accounts receivable to an investor instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of many of America's most effective companies. Why is this paradoxical ? Since trucking factoring is not instructed in business colleges, is seldom discussed in company strategies and is relatively unknown to the majority of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, enabling countless companies to grow and prosper. Commercial Factoring has actually been around for thousands of years. Accounts Receivable Factoring Companies are investors who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance companies are truly just large Truck Factoring Businesses of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not make payment up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Receivable Funding can provide numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be met 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 need to wait for earlier sales to be paid. FACTORING is not simply a money management device for manufacturers: Almost any kind business can take advantage of Receivable Loan Funding. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in accounts receivable at any given time. Think for a minute about 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 customer s invoice, but you can sell that invoice for the cash to satisfy those obligations. Using truck factoring companies is a quick and easy process. The factor buys the invoice at a discount, usually a few percentage points less than the face value of the invoice.

 

 

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The United states Truck Association
specifies that there around
195,000 truck drivers with freight trucking
companies and
300,000 personal companies trucking
companies accredited to
operate in the United States that transported,
according to their latest data of millions
items, materials and
standard products .
There are several usual
providers either going solo or in
teams on our country
roadways transferring these
crucial items to our
stores, factories and harbors.

Also trucking factoring
companies benefit
many of them and offer their
receivable loan services
nationwideincluding
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

 

 

 

 

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Accountreceivablesfunding.Org

 

 

 

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Arkansas Factoring Companies

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

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

 

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.

 

 

"

Edwards Truck and Haul has been in 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, Edwards 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. Cash was flowing and times were good for all.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Edwards had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Ryan Collins, CEO of Edwards felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. 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 Edwards 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 Edwards hadn't gone elsewhere. They had just gone home.The situation looked dire to Ryan Collins. 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. At night he would speak to his wife Joyce and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Ryan would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Ryan. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" 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.

 

""Joyce was trying so hard to support her husband in these worrying times, while Ryan was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Ryan walked into his office with a spring in his step, determined to call each and every client who owed money to Edwards Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ryan 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. A waste of time - a waste of money - he had the best intentions, but all the while Ryan was realising just how much trouble he was in.Poor Ryan 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.

 

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

 

""Sure thing Cheryl, come on in."" Ryan leaned back in his chair and looked expectantly at Cherylerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ryan."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" she 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.""Immediately?"" Ryan interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Ryan 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.

 

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.�Ryan leaned forward and reviewed the paperwork closely.""I do not know, Cheryl - it just sounds too good to be true"", Ryan said quietly.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Ryan,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Ryan.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. 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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Ryan said.Ryan took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Ryan thought about this and agreed with Cherylerley. The clients who owed them money were long standing friends and professional resources of Edwards. Ryan wasn't prepared to lose these relationships just because they were having financial issues at the moment. Ryan 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.""Let me go over this tonight Cheryl, and thankyou."" Cheryl nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Ryan stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Edwards 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, Edwards could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Timothy about this,"" Ryan muttered to himself.Timothy is Ryan's son-in-law, and he really admired the ideas behind Edwards, so much so that only two years before he had started his own transportation service business. Ryan knew then what struggles Timothy would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Edwards was hurting, a little guy like Timothy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Ryan was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Ryan was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Ryan recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

 

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"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Rafael Castillo just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Rafael is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Castillo 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 Rafael's father had started this business working as an owner-operator and eventually growing Castillo Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Rafael�s mother strapped herself into a cab 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 Rafael's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They had families and household bills too. 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, Castillo 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. Rafael 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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.

 

Rafael had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! 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 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. 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Rafael it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Rafael because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Castillo 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.

 

Rafael stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Castillo 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.

 

"

 

 

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Trucking Factoring  Articles

"

�So It is not a loan?� Floyd Martin asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Floyd smiled at him, shaking her head.�Not quite,� she said.Floyd 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 Jay. He named his business Douglas Trucking, named after Felix and Duane, his two grandfathers. They had both been hardworking men, and had done a lot to make Floyd the same.Disaster had struck half a year ago, when two trucks in Jay�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Floyd depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Floyd wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Carla and she worked for a factoring company. Floyd had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Floyd agreed. It sounded perfect - perhaps too good?.Carla 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 actually thought I might end up losing my business.�Carla smiled, agreeing. �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 what we�re here for.""In any case, thank you for coming to see me.""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 Carla with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Floyd filled the form out, with Carla available to help him if he needed it. The completed profile gave Carla and her company all the information they needed on Jay's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Floyd completed his form, Carla listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Carla took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Jay's hand. He also stood up, and they smiled at each other. They said their goodbyes and Floyd walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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 Carla and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about 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 Douglas Trucking. So he did it. For the second time in his short life he created 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 nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Jay's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

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Reasons why Truck Agencies Employ Factoring Firms.

 

As the operator of your own business enterprise, you may perhaps be more than conscious already of the hardship in making certain that capital issues do not become a problem down the line. Anyway, the worst thing that can quite possibly come about for your business is to find yourself swept up in a long and problematic circumstance that leaves you forever looking for the resources you are in need of on an ongoing manner.

 

For any company in this situation, the issue can come for waiting for work to clear up and actually be paid out into your statement. Invoices, checks, and the like could take some time to actually to be taken care of which could leave you with temporary available resources troubles. Luckily, there are approaches out there for industries to investigate-- and just one of these is factoring providers.

 

Factoring agencies will, in substitution for your statements, give you with the money right now to ensure you do not need to fret about the delaying time span that could make paying off the expenses and obtaining materialsmore difficult. With this type of setup, invoice factoring can end up being extremely practical for several establishments who ought to get out of a money trap which they have discovered themselves in.

 

Because, basing on the volume of the project, it can take up to 60 days for a number of firms to get paid then it is crucial to take care of your own back and not leave yourself funds short to pay off the bills. After all, how many business enterprises possess two months profits just occupying there to handle all their expenses till they get paid?

 

This is especially true of truck companies. They usually take care of bunches of invoices which means a considerable volume of collection time entails company owner themselves. Attempting to get paid off in time can turn into an incredible hassle and this is precisely why you use trucking factoring providers who are glad to help out truckers specifically.

 

As we all determine, trucking is an exceptionally huge field with a lot of firms out there utilizing hundreds of vehicle drivers. Unfortunately, plenty of these drivers land up in cash troubles since they are still expecting work from six weeks back to actually pay them. When this is the circumstance for a trucking agency, depending on factoring companies for reinforcement may be the most ideal alternative left.

 

This signifies that a truck business can provide the paychecks of the staff, keep all the vehicles filled with gas and continue to escalate, progress and expand without always waiting for the cash which is taking too long to come in. Trucking Businesses operating without a factoring program put in place are leaving themselves at substantial danger, as competitors cash out rapidly and carry on to grow.

 

There's genuinely almost nothing to be worried about when it comes to making use of a Factoring contractor-- they typically are not like a banking company or someone who is going to leave you with a big mound of financial obligation to pay back. You give them legitimate invoices from work you have already finalized , you are simply expediting the repayment system.

 

In the Usa, where truck companies succeed, factoring establishments are not considered borrowing in any capacity. This confidential agreement then allows both groups to benefit and experience a convenient future-- it provides the factoring company a warranted resource of income to add to the list and it supplies the trucking firm the required money that they sweated to get.

 

The trucking establishment provides their invoices to the factoring enterprise. The trucking factoring firm then acquire the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been used for long times by plenty of varying markets-- 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 resources today and can actually start off putting the funds to work.

 

Anyway, an IOU or an invoice is definitely not going to finance overheads, is it? For trucking enterprises when the money 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 substantial quantity of time and finance to get through the week up until they are compensated once more.

 

So the next time your trucking enterprise is having some temporary capital concerns and you are spending a lot of time chasing inactive paying customers, why not start off taking into consideration using a factoring companies as a way to get your finances and give yourself a more at ease future in the eyes of your trucking workers and your bank balance?

 

 

 

Arkansas Factoring Companies

 

 

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Traditional Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of 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. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is 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 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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.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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