Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

The Secrets of Making People Like You Get - Our Trucking Factoring Company Can Provide
Your Truck Company The Cash Your Company Needs

factoringinformation.org

trucking factoring service

transportation factoring trucking

best trucking factoring company

freight bill factoring

Trucking Factoring is advantageous for several factors. It enables a trucking business to raise cash without getting new debt. While financial obligation is often necessary, a lot of freight brokerage would like to raise money without borrowing cash. Debt is dangerous, and when it cannot be paid back, properties can be repossessed. If the financial obligation is huge enough, it might even require a trucking companies out of business.

 

 

 

 

 

 

 

Check the Kind of Bank Account You Want - Pick The Best Factoring Company Instead Of A Regular Bank Funding

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

At one time or another, every business, even successful ones, have actually experienced poor cash 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 solutions are offered and you do not have to borrow. Exactly what is truck factoring ? One solution is called trucking factoring. Truck Factoring is the process of offering invoices to a financier instead of waiting to gather the money from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary foundation of numerous of America's most effective companies. Why is this paradoxical ? Since accounts receivable factoring is not instructed in business colleges, is seldom mentioned in business plans and is relatively unknown to bulk of most of American company people.

Yet it is a financial process that frees billions of dollars every year, allowing thousands of businesses to grow and succeed. Factoring has actually been around for countless years. Factoring 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 financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest definition of the word, these big customer finance companies are really simply big Trucking Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, even though you do not make payment up until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal fees range from 2 to four percent of the sale). The Benefits Trucking Factoring can offer numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has currently been provided, a company can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be met with instant  money.

Invoice Factoring offers the ways for a producer to replenish inventory and make even more items to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management tool for producers: Almost any kind company can benefit from Receivable Financing. Typically, a business 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 exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a quick and easy process. The factoring company purchases the invoice at a price cut, usually a couple of percentage points less than the stated value of the invoice.

 

 

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

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

 

 

dallas-factoring-companies

 

The United states Truck Organization
mentions that there are about
200,000 truck drivers with transportation
companies and
250,000 personal providers trucking
companies certified to
operate in the States that transferred,
according to their most current listings of millions of
products, supplies and
fundamental materials .
There are several typical
providers either going solo or in
groups on our country
highways carrying these
vital products to our
shops, manufacturingplants and harbors.

Moreover truck factoring
businesses aid
many of them and offer their
receivables financing facilities
nationallyincluding
including the following states.

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

 

"

In its beginnings, Dallas relied on farming, neighboring Fort Worth's Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas' key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s Dallas was a hub for economic activity all over the Southern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ? of the nation's cotton crop, with 31% of Texas cotton produced within a 100-mile (160 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas. Dallas' proximity to the discovery put it immediately at the center of the nation's petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas' position as the hub of the market.The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of ""Silicon Prairie"" because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies including.In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas' largest buildings are the fruit of this boom, but over-speculation and the savings and loan crisis prevented any further additions to Dallas' skyline. Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth and has only recently recovered. Since 2000, the real estate market in the Dallas�Fort Worth metroplex has been relatively resilient. However, Dallas is among the largest cities in the U.S. where rent declined significantly. Whereas the national decline in rent is approximately 4%, Dallas rent declined an average of 8% in early 2010.Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas. Defense and aircraft manufacturing dominates the economy of nearby Fort Worth.The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies, and the DFW region as a whole has 20. In 2007�08, the world's largest breast cancer organization was founded and is headquartered in Dallas.In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931. Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high-end stores and are major tourist draws for the region.[]According to magazine's annual list of ""The Richest People in America"" published September 21, 2011, the city itself is now home to 17 billionaires, up from 14 in 2009. In 2009 (with 14 billionaires) the city placed 6th worldwide among cities with the most billionaires. The ranking does not even take into account the 8 billionaires who live in the neighboring city of Fort Worth. In 2013, also ranked Dallas No. 13 on its list of the Best Places for Business and Careers.Dallas is currently the third most popular destination for business travel in the United States, and the Dallas Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m2), and the world's single-largest column-free exhibit hall

 

"

 

Watch Our Truck Factoring Companies YouTube Videos For More Information

 

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

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

 

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.

 

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

 

 

"

Since the mid 1980s Fuller Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Fuller Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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 down. And worse yet, Fuller 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, Neil Norman, CEO of Fuller felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing 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 Fuller 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 Fuller hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Neil Norman to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Claudia and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Neil 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 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 think I know what it could be,"" Neil 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."" Claudia would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Claudia was trying so hard to support her husband in these worrying times, while Neil was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Neil strolled into his office and was determined to sit down and make every phone call to every client who had owed Fuller money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Neil 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. A waste of time - a waste of money - he had the best intentions, but all the while Neil was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Elsieerley knocked at his door.

 

""Neil, can I have a word?"" she asked standing in the doorway.

 

""Sure thing Elsie, come on in."" Neil relaxed back into his chair and looked up at Elsieerley.""Well Neil, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Neil interrupted.""Immediately, yes"" she added, ""In a nutshell, it is 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 provides a very broad view.""I see,� Neil said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Neil studied the documents very closely.""I do not know, Elsie - it just sounds too good to be true"", Neil 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. They appear to be very flexible, Neil,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Neil.""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,"" Neil said.Neil 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 are having with these clients who still owe us money.""Neil thought about this and agreed with Elsieerley. The customers who were in debt to Fuller Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Neil was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Elsie, thank you."" Elsie nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Neil keep the shirt on his back, and possibly hers too.Neil 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 Fuller with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Fuller could receive up to fifty-percent cash advances upon load pick-ups. Neil 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 Harold about this,"" muttered Neil to himself.Neil's son-in-law, Harold, loved the idea behind Fuller and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Neil knew the struggles Harold would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Fuller was hurting, a little guy like Harold was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Neil 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. Neil 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.

 

"

 

"

In its beginnings, Dallas relied on farming, neighboring Fort Worth's Stockyards, and its prime location on Native American trade routes to sustain itself. Dallas' key to growth came in 1873 with the building of multiple rail lines through the city. As Dallas grew and technology developed, cotton became its boon and by 1900 Dallas was the largest inland cotton market in the world, becoming a leader in cotton gin machinery manufacturing. By the early 1900s Dallas was a hub for economic activity all over the Southern United States and was selected in 1914 as the seat of the Eleventh Federal Reserve District. By 1925 Texas churned out more than ? of the nation's cotton crop, with 31% of Texas cotton produced within a 100-mile (160 km) radius of Dallas. In the 1930s petroleum was discovered east of Dallas near Kilgore, Texas. Dallas' proximity to the discovery put it immediately at the center of the nation's petroleum market. Petroleum discoveries in the Permian Basin, the Panhandle, the Gulf Coast, and Oklahoma in the following years further solidified Dallas' position as the hub of the market.The end of World War II left Dallas seeded with a nexus of communications, engineering, and production talent by companies. Decades later, the telecommunications and information revolutions still drive a large portion of the local economy. The city is sometimes referred to as the heart of ""Silicon Prairie"" because of a high concentration of telecommunications companies in the region, the epicenter of which lies along the Telecom Corridor located in Richardson, a northern suburb of Dallas. The Corridor is home to more than 5,700 companies including.In the 1980s Dallas was a real estate hotbed, with the increasing metropolitan population bringing with it a demand for new housing and office space. Several of Downtown Dallas' largest buildings are the fruit of this boom, but over-speculation and the savings and loan crisis prevented any further additions to Dallas' skyline. Between the late 1980s and the early 2000s, central Dallas went through a slow period of growth and has only recently recovered. Since 2000, the real estate market in the Dallas�Fort Worth metroplex has been relatively resilient. However, Dallas is among the largest cities in the U.S. where rent declined significantly. Whereas the national decline in rent is approximately 4%, Dallas rent declined an average of 8% in early 2010.Texas Instruments, a major manufacturer, employs 10,400 people at its corporate headquarters and chip plants in Dallas. Defense and aircraft manufacturing dominates the economy of nearby Fort Worth.The Dallas-Fort Worth Metroplex has one of the largest concentrations of corporate headquarters for publicly traded companies in the United States. The city of Dallas has 12 Fortune 500 companies, and the DFW region as a whole has 20. In 2007�08, the world's largest breast cancer organization was founded and is headquartered in Dallas.In addition to its large number of businesses, Dallas has more shopping centers per capita than any other city in the United States and is also home to the second shopping center ever built in the United States, Highland Park Village, which opened in 1931. Dallas is home of the two other major malls in North Texas, the Dallas Galleria and NorthPark Center, which is the 2nd largest mall in Texas. Both malls feature high-end stores and are major tourist draws for the region.[]According to magazine's annual list of ""The Richest People in America"" published September 21, 2011, the city itself is now home to 17 billionaires, up from 14 in 2009. In 2009 (with 14 billionaires) the city placed 6th worldwide among cities with the most billionaires. The ranking does not even take into account the 8 billionaires who live in the neighboring city of Fort Worth. In 2013, also ranked Dallas No. 13 on its list of the Best Places for Business and Careers.Dallas is currently the third most popular destination for business travel in the United States, and the Dallas Convention Center is one of the largest and busiest convention centers in the country, at over 1,000,000 square feet (93,000 m2), and the world's single-largest column-free exhibit hall

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Benjamin Ward just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Ward Trucking Company was at a turning point of growth and Benjamin had to decide if signing with a factoring company was the right way forward.

 

Benjamin�s father had started as an owner-operator and had grown Ward Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Benjamin�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. Now the company was solely in Benjamin�s hands and he wanted to live to see it in better shape for his sons.

 

To move Ward Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Ward Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Benjamin chuckled, thinking about his father. He remembered when his father was totally against installing 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?� 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.

 

Benjamin knew he was right in his forward thinking. What would be the next step for Ward Trucking? 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Benjamin to do his homework. Benjamin 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. 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Benjamin 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 were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Benjamin because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Ward Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Benjamin stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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, Benjamin could actually expand Ward Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

Historichomesmaryland.Com

 

Freelandcustom.Com

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Lee Bennett asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Lee smiled at him, shaking her head.�No, not exactly,� she stated.Lee Bennett owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Carl. He named his business Wade Trucking, named after Fernando and Sergio, his two grandfathers. Both of these men had been very hardworking and had set a great example for Carl.Six months ago disaster struck Carl's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Carl'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 Lee had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Lee was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Jennifer and she worked for a factoring company. Lee 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.Jennifer explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Lee nodded. It sounded perfect - perhaps too good?.Jennifer 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.�Jennifer smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. 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,� Jennifer said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Lee completed the form, with Jennifer offering advice as needed.

 

The completed profile gave Jennifer and her company all the information they needed on Carl'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 were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Lee filled out his form, Jennifer was pretty sure he was a perfect candidate for factoring.When the form was done Jennifer took it and slid it into her briefcase. She then stood, reached across the desk and shook Carl�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Lee 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 had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Jennifer though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. 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.Lee 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 really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. 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 six months off, and during that time he decided to create Wade Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Carl'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 key reasons why Truck Companies Employ Factoring Firms.

 

As the manager of your own company, you may perhaps be more than aware already of the challenge in making certain that capital issues do not become a problem down the line. Anyway, the most unfortunate thing that can potentially transpire for your establishment is to find yourself swept up in a long and problematic circumstance that leaves you forever trying to find the funds you really need on an on-going basis.

 

For any business enterprise in this circumstance, the challenge can come for waiting for work to clear up and actually be settled into your balance. Bill of sales, checks, and the like can take a long time to actually to beprocessed which can leave you with temporary available resources issues. Gratefully, there are options out there for companies to explore-- and among these is factoring companies.

 

Factoring agencies will, in exchange for your invoices, grant you with the cash money now so that you do not need to fret about the lingering period which could make paying the bills and getting toolsmore challenging. With this type of setup, invoice factoring can end up being extraordinarily valuable for lots of firms who need to avoid a money ploy which they have found themselves in.

 

Due to the fact that, relying on the size of the work, it can take up to 60 days for many firms to get compensated then it is significant to cover your own back and certainly not leave yourself funds short to pay off the costs. After all, how many businesses possess two months earnings just occupying there to pay for all their overheads till they make money?

 

This is specifically correct of truck firms. They tend to deal with bunches of accounts which means a substantial volume of collection time demands company owner themselves. Attempting to get paid promptly can become an unbelievable headache and this is the reason why you utilize truck factoring agencies who are thrilled to help out truckers specifically.

 

As all of us determine, trucking is an remarkably large business with countless firms out there handling hundreds of operators. However, plenty of these drivers land up in cash predicaments due to the fact that they are still expecting work from six weeks ago to actually pay them. When this is the condition for a trucking firm, turning to factoring providers for reinforcement maybe the finest alternative left.

 

This indicates that a trucking company can compensate the salaries of the personnel, keep all the vehicles topped off with fuel and continue to go up, rise and expand without always waiting for the income which is taking too prolonged to come in. Trucking Establishments functioning without a factoring system used are leaving themselves at substantial risk, as competitors cash out promptly and carry on to broaden.

 

There's absolutely not a thing to be stressed about when it comes to employing a Factoring company-- they are not like a financial institution or someone who is going to leave you with a significant mound of liability to pay back. You give them legitimate invoices from job you have already accomplished , you are only just accelerating the payment system.

 

In the United States, where trucking companies develop, factoring enterprises are not considered borrowing in any capacity. This private agreement then enables both parties to make money and take joy in a worry-free future-- it provides the factoring business a guaranteed asset of revenue to include in the list and it gives the trucking company the required finances that they sweated to obtain.

 

The trucking establishment provides their invoices to the factoring establishment. The trucking factoring firm then acquire the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for several years by lots of varying business-- but none exceeding so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you partner with, it implies that you are getting the finances today and can actually start off putting the money to work.

 

Anyway, an IOU or an invoice is not going to pay for spendings, is it? For trucking agencies when the money can be very good one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a significant amount of time and finance to get through the week till they are compensated again.

 

So the next moment your trucking business is bearing some temporary capital concerns and you are putting in a lot of time chasing sluggish paying clients, why not start off thinking about utilizing a factoring companies as a way to get your money and give yourself a more pleasant future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

"

Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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. 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. 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. 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. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. 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 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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.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