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Six Types of Companies - Which Group Are You In? - Our Freight Factoring Company Can Provide Your Trucking Company The Money You Need


at medicalaccountsreceivable.org

and Portland-Invoice-Factoring-Companies.medicalaccountsreceivable.org.

trucking invoice factoring freight bill factoring companies factoring trucking receivables factoring services for trucking companies

 

Medium-Size trucking businesses, especially those who have actually not been in existence for very long, will typically find it tough to secure a loan. Banks are often reluctant to lend cash to companies that don't have a great deal of income and assets. They also want proof of the practicality of a business and therefore need that the majority of operations, particularly little ones, been around for a specific amount of time prior to they are ready to hand over any cash. Due to the fact that of this, a medium-size company typically has few money producing choices when requires arise. One alternative available, however often neglected, is factoring. This is an outstanding way for a small company to acquire cash.

 

How To Get Rich With - Pick A Factoring Company Instead Of A Typical Bank Financing

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons businesses fail.

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Truck Factoring is the process of selling invoices to an investor instead of waiting to gather the money from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of many of America's most effective companies. Why is this ironic ? Because receivable funding is not instructed in business colleges, is rarely discussed in company strategies and is fairly unknown to bulk of most of American business people.

Yet it is a monetary process that frees billions of dollars every year, enabling thousands of companies to grow and succeed. Staffing Factoring has actually been around for thousands of years. Receivable Financing Businesses are financiers 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 customer 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. Utilizing the purest meaning of the word, these big consumer finance companies are really simply large Trucking Factoring Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, even though you do not make payment up until you are ready.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from 2 to 4 percent of the sale). The Benefits Factoring can provide numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been provided, a business can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be met with instant  cash.

Accounts Receivable Factoring provides the means for a producer to replenish inventory and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Practically any kind company can take advantage of Receivable Funding. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about 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 offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a fast and simple procedure. The factor buys the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

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The American Trucking Association mentions that there around 195,000  workers with truck companies and 250,000 private service providers trucking companies accredited to operate in America that  carried, according to their latest listings of millions of  items, supplies and basic materials . There are numerous  common providers either going solo or in groups on our country roadways carrying these important items to our shops, manufacturingplants and ports.

And freight factoring firms support many of them and offer their receivable loan services nationwide comprising 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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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:

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.

 

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

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

 

United States Trucking Companies

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.

The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.

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

 

EveryTruckJob.com 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 andbenefits 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.

 

 

 

 

 

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Portland is the largest city by population in the U.S. state of Oregon, near the confluence of the Willamette and Columbia rivers. According to the 2010 Census, it had a population of 583,776,[9] estimated to have reached 609,456 in 2013,[9][7] making it the 29th most populous city in the United States and the third most populous city in the Pacific Northwest region, after Seattle, Washington, and Vancouver, British Columbia, Canada. Approximately 2,314,554 people live in the Portland metropolitan area (MSA), the 19th most populous MSA in the United States.Portland was incorporated in 1851 and is the county seat of Multnomah County.[10] The city has a commission-based government headed by a mayor and four other commissioners as well as Metro, a distinctive regional government. The city is noted for its superior land-use planning and investment in light rail.[11] Because of its public transportation networks and efficient land-use planning, Portland has been recognized as one of the most environmentally conscious cities in the world.[12]Located in the Marine west coast climate region, Portland has a climate marked by both warm, dry summers and wet, cool-to-chilly winter days. This climate is ideal for growing roses. For more than a century, Portland has been known as the ""City of Roses"",[13][14] with many rose gardens � most prominently the International Rose Test Garden. The city is also known for its abundant outdoor activities, liberal political values, and beer and coffee enthusiasm. Portland is home to a large number of independent microbreweries, microdistilleries and food carts that contribute to the unofficial slogan ""Keep Portland Weird"".[Portland's location is beneficial for several industries. Relatively low energy cost, accessible resources, north�south and east�west Interstates, international air terminals, large marine shipping facilities, and both west coast intercontinental railroads are all economic advantages.[75] The US consulting firm Mercer, in a 2009 assessment ""conducted to help governments and major companies place employees on international assignments"", ranked Portland 42nd worldwide in quality of living; the survey factored in political stability, personal freedom, sanitation, crime, housing, the natural environment, recreation, banking facilities, availability of consumer goods, education, and public services including transportation.[76]Since the 1990s, companies that have moved their world, North American, or U.S. headquarters to Portland include Adidas,[77] Daimler Trucks,[78] Vestas Wind Systems,[79] KinderCare,[80] Airbnb[81] and athletic and footwear manufacturers Keen,[82] Hi-Tec Sports,[83] and Li-Ning.[84] Companies no longer in Portland, some through acquisition, include Louisiana-Pacific,[85] U.S. Bancorp,[86] Integra Telecom[87] and Banfield Pet Hospital.[88]Other Portland-based companies include film animation studio Laika; advertising firm Wieden+Kennedy; financial services companies Umpqua Holdings and StanCorp Financial; insurers Standard Insurance Company and Moda Health; law firms Stoel Rives and Schwabe, Williamson & Wyatt; data tracking firm Rentrak; utility providers PacifiCorp, NW Natural and Portland General Electric; retailers Fred Meyer, New Seasons and Storables; restaurant chains The Original Pancake House, The Old Spaghetti Factory, McMenamins and McCormick & Schmick's; Franz Bakery; brewers Henry Weinhard's and Portland Brewing Company; Stumptown Coffee Roasters; apparel companies Jantzen and LaCrosse Footwear; Rodda Paint; Powell's Books; toolmaker Leatherman; and architectural firms ZGF Architects LLP and Boora Architects.Computer components manufacturer Intel is the Portland area's largest employer, providing jobs for more than 15,000 people, with several campuses to the west of central Portland in the city of Hillsboro.[75] The metro area is home to more than 1,200 technology companies.[75] This high density of technology companies has led to the nickname Silicon Forest being used to describe the Portland area, a reference to the abundance of trees in the region and to the Silicon Valley region in Northern California. The Silicon Forest is home to facilities for hardware makers such as Tektronix, TriQuint Semiconductor, Lattice Semiconductor, Siltronic, ON Semiconductor, WaferTech, LaCie, Genentech, FLIR Systems, Astronics Max-Viz and others. The area also hosts facilities for software companies such as McAfee, Mentor Graphics, Jive Software, Extensis and Autodesk. Online startup companies, some supported by local seed funding organizations and business incubators,[89] include Simple, COLOURlovers, Urban Airship and many others.The Portland metro area has become a hub for athletic and footwear manufacturers. The area is home to the global, North American or US headquarters of Nike, Adidas, Columbia Sportswear, Li Ning (China's largest footwear manufacturer), Keen, and Hi-Tec Sports. Additional manufacturers that have opened offices in Portland include Under Armour, Merrell and Amer Sports.[90]Portland-based Precision Castparts is one of two Fortune 500 companies headquartered in Oregon, the other being Nike. Other manufacturing companies based in Portland include Freightliner Trucks, Daimler Trucks North America, Zidell Companies and The Collins Companies. Western Star Trucks builds their trucks in the city. Leatherman Tools and Langlitz Leathers, considered � respectively � the industry leaders in multitools and motorcycle riding wear, are also based in Portland.The steel industry's history in Portland predates World War II. By the 1950s, the steel industry became the city's number one industry for employment. The steel industry thrives in the region, with Schnitzer Steel Industries, a prominent steel company, shipping a record 1.15 billion tons of scrap metal to Asia during 2003. Other heavy industry companies include ESCO Corporation and Oregon Steel Mills.[91][92][93]Portland is the largest shipper of wheat in the United States,[94][95] and is the second largest port for wheat in the world.[96] The marine terminals alone handle over 13 million tons of cargo per year, and the port is home to one of the largest commercial dry docks in the country.[97][98] The Port of Portland is the third largest export tonnage port on the west coast of the U.S., and being located about 80 miles (130 km) upriver, it is the largest fresh-water port

 

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Wheeler 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, Wheeler 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.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 to a crawl

 

. Worse still, it was noticed by Wheeler in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Leslie Murray, CEO of Wheeler 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 something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.To Leslie Murray 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, Lucy, 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 ask.Leslie would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I know what it is,"" Leslie said. ""I've relied too long on the profits I receive from invoices alone. 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's a hard economy. It might be awhile until things get settled up.

 

""Leslie 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 Leslie walked into his office with a spring in his step, determined to call each and every client who owed money to Wheeler Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Leslie 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. 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, Leslie knew that he was in trouble.

 

Poor Leslie 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.

 

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

 

""Of course Thelma, please come in."" Leslie leaned back in his chair and looked expectantly at Thelmaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Leslie."" 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 the word factoring?"" Thelmaerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""""Immediately?"" Leslie interrupted.""Immediately, yes"" she added, ""In a nutshell, it's pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.��Leslie replied cautiously ""I see - and what happens then?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Leslie studied the documents very closely.""I don't know, Thelma - it just sounds too good to be true"", Leslie said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Leslie: 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, Leslie,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""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. It only takes 2 to 4 days for this to be figured out. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Leslie said.Leslie took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Leslie thought about this and agreed with Thelmaerley. The clients who owed them money were long standing friends and professional resources of Wheeler. Just because they were experiencing difficulties paying their own bills now, Leslie was very concerned about losing these relationships. Leslie knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he didn't handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Thelma, thank you."" Thelma nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Leslie 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 Wheeler 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. Leslie was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Leslie was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Nathan the good news,"" muttered Leslie to himself.Nathan is Leslie's son-in-law, and he really admired the ideas behind Wheeler, so much so that only two years before he had started his own transportation service business. At that time Leslie knew the struggles Nathan would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Wheeler was hurting, a little guy like Nathan was about to catch his death. But, an antidote may have been found in freight factoring and Leslie was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Leslie found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Leslie 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.

 

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More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Martin Powell let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Martin is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Powell 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 Martin's father had started this business working as an owner-operator and eventually growing Powell 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 Martin's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Martin's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They all have families and the usual household bills. 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. He knew that turning down these requests made Powell Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Martin chuckled, thinking about his father. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Martin knew he was right in his forward thinking. How would he take Powell Trucking to the next level? And how would he be able to 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 didn't 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Now it was time for Martin to do his homework. 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! 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?

 

However, it all turned out to be very simple. 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. 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 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Martin 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 have any problems, nor would they think poorly of Powell 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, Martin stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Martin could actually expand Powell Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

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Trucking Factoring  Articles

�So It is not a loan?� Patrick Hughes asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Patrick smiled at him, shaking her head.�Not quite,� she stated.Patrick Hughes 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 Francisco. His company was called Payne Trucking, named after both of his grandfathers, Albert and Miguel. They had both been hardworking men, and had done a lot to make Patrick the same.Disaster had struck half a year ago, when two trucks in Francisco�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Francisco's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Patrick had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Patrick was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he couldn't possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Patrick knew she was employed by a Factoring company and that her name was Sally. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We 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.Patrick nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Sally nodded. �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. Sometimes you need help. That's why we do what we do.��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 Sally with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Patrick filled the form out, with Sally available to help him if he needed it. The profile filled Sally and her company in on Francisco�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Patrick completed his form, Sally listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Sally took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Francisco's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Patrick walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Sally 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.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of 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 still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Patrick 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. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Payne Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He 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, because of factoring, he was sure he wouldn�t have to. Patrick opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

 

 

More Trucking Factoring Company Story Articles

Reasons why Truck Companies Work with Factoring Firms.

 

As the owner of your own establishment, you may perhaps be much more than perceptive already of the difficulty in making sure that capital concerns do not become a predicament down the line. Anyway, the most awful thing that can quite possibly develop for your enterprise is to find yourself embroiled in a long and tough situation that leaves you forever trying to find the funds you need on an continual basis.

 

For just about any company in this circumstance, the issue can come for waiting for work to clear up and actually be provided into your statement. Invoices, checks, and the like could take some time to actually to be taken care of which can leave you with temporary cash flow troubles. The good news is, there are solutions out there for companies to delve into-- and just one of these is factoring providers.

 

Factoring agencies will, in substitution for your accounts, give you with the cash money now to make sure that you don't have to stress over the waiting duration which could make paying off the expenses and obtaining materialsmore difficult. With this form of setup, invoice factoring can come to be exceptionally practical for countless enterprises who need to avoid a cash pitfall which they have found themselves in.

 

Simply because, depending upon the size of the project, it can take up to 60 days for some business enterprises to get paid then it's necessary to cover up your own back and not leave yourself resources short to settle the costs. After all, how many establishments possess two months cash flow just occupying there to pay for all their bills until they make money?

 

This is most especially correct of truck agencies. They generally manage lots of statements which means a huge amount of collection time involves business owner themselves. Striving to get paid off in time can turn into an amazing inconvenience and this is why you utilize truck factoring organizations who are pleased to help out truckers exclusively.

 

As most of us determine, trucking is an unbelievably large market with countless companies out there working with hundreds of vehicle drivers. Regrettably, many of these drivers wind up in cash predicaments given that they are still expecting work from six weeks back to actually compensate them. When this is the condition for a trucking organization, depending on factoring firms for reinforcement maybe the very best option left.

 

This signifies that a trucking firm can pay the paychecks of the personnel, keep all the vehicles refilled with gas and continue to go up, flourish and expand without always waiting for the finances which is taking too long to come in. Trucking Business enterprises running without a factoring program put in place are leaving themselves at significant danger, as contenders cash out fast and carry on to expand.

 

There's honestly not a thing to be stressed about when it comes to making use of a Factoring firm-- they aren't like a financial institution or an individual who is going to leave you with a massive stack of personal debt to repay. You give them legitimate invoices from job you have already completed , you are just accelerating the repayment system.

 

In the Usa, where truck establishments flourish, factoring establishments are not considered taking on loan in any capacity. This private contract then enables both parties to benefit and take pleasure in a comfortable future-- it provides the factoring firm a secured asset of cash flow to add to the list and it offers the trucking business the needed money that they sweated to generate.

 

The trucking business gives their invoices to the factoring firm. The trucking factoring company then take the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been utilized for long times by lots of various sectors-- but none much more so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it means that you are receiving the resources today and can actually start putting the resources to operate.

 

Once and for all, an IOU or an invoice is definitely not going to cover costs, is it? For trucking establishments when the resources can be fantastic one day and gone the next, it's up to the vehicle drivers to work prudently and to make sure that they are leaving themselves with a notable quantity of time and money to get through the week until they are handed over again.

 

So the next moment your trucking establishment is bearing some short-term cash flow concerns and you are putting in an excessive amount of time chasing inactive paying clients, why not start off considering using a factoring companies as a way to get your cash and give yourself a more pleasant future in the eyes of your trucking crew and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once 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

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. You Won't Incur Debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your 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. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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 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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