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How To Rob Banks Legally - Our Trucking Factoring Companies Can Provide
Your Freight Company The Money You Want

workingcapitalfactoring.org

trucking factoring

factoring companies for trucking industry

freight bill factoring

transportation invoice factoring

Medium-Size freight companies, especially those who have actually not been in existence for really long, will typically find it difficult to secure a loan. Banks are frequently reluctant to lend cash to companies that do not have a great deal of earnings and possessions. They likewise want proof of the practicality of a company and therefore need that many operations, especially little ones, been around for a particular quantity of time before they are ready to turn over any money. Since of this, a medium-size company often has a couple of money producing choices when requires arise. One option offered, however commonly ignored, is invoice factoring. This is an excellent way for a small business to obtain money.

 

 

 

 

 

 

 

They Grinned When the Banker Spoke to Me in French - Select A Freight�Invoice Factoring Company  Instead Of A Typical Bank Funding

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

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of offering invoices to an investor instead of waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary foundation of numerous of America's most effective businesses. Why is this ironic ? Because receivable loan funding is not taught in business colleges, is seldom mentioned in business plans and is fairly unknown to bulk of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing countless companies to grow and prosper. Factoring has been around for thousands of years. Receivable Financing Companies are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, 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 deals. Using the purest definition of the word, these large customer finance companies are really just big FACTORING Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, although you do not make payment up until you are prepared.

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

Invoice Factoring offers the means for a manufacturer to replenish inventory and make even more products to offer: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a money management tool for producers: Practically any kind company can benefit from Truck Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a fast and easy procedure. The factoring company purchases the invoice at a price cut, typically a couple of portion points less than the face value of the invoice.

 

 

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The American Truck Association
specifies that there are about
205,000 employees with transportation
businesses and
276,000 private companies trucking
firms certified to
operate in America that carried,
according to their most current data of millions
items, supplies and
basic products .
There are several typical
providers either going solo or in
groups on our nation
roads transferring these
vital products to our
stores, factories and shipping ports.

And freight bill factoring
companies aid
numerous of them and offer their
receivable loan services
countrywidecomprising
including the following states.

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

 

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More than 100,000 people commute to Newark on weekdays, making it the state's largest employment center with many white-collar jobs in insurance, finance, import-export, health-care, and government. As a major courthouse venue including federal, state, and county facilities, it is home to more than 1,000 law firms. The city is also a ""college town"", with nearly 40,000 students attending the city's universities and medical and law schools. Its port and rail facilities make Newark the busiest transhipment hub on the East Coast in terms of volume.Though Newark is not the industrial colossus of the past, the city does have a considerable amount of industry and light manufacturing. The southern portion of the Ironbound, also known as the Industrial Meadowlands, has seen many factories built since World War II, including a large Anheuser-Busch brewery. The service industry is also growing rapidly, replacing those in the manufacturing industry, which was once Newark's primary economy. In addition, transportation has become a large business in Newark, accounting for more than 17,000 jobs in 2011.Newark is one of nine cities in New Jersey designated as eligible for Urban Transit Hub Tax Credits by the state's Economic Development Authority. Developers who invest a minimum of $50 million within 0.5 miles of a train station are eligible for pro-rated tax credit. Since the election of Cory Booker there has been millions of dollars of public-private partnership investment in Downtown development but persistent underemployment continue to characterize many of the city's neighborhoods. Poverty remains a consistent problem in Newark. As of 2010, roughly one-third of the city's population is impoverished.Newark is the third-largest insurance center in the United States, after New York City and Hart. The Prudential Financial and Mutual Benefit Life companies originated in the city. The former, one of the largest insurance companies in the world, has its ""home office in Newark and is constructing a new office tower. Many other companies are headquartered in the city, In addition to other benefits to encourage employment within the Zone, shoppers can take advantage of a reduced 3�% sales tax rate (versus the 7% rate charged statewide) at eligible merchants. While for years there was a dearth of supermarkets, since the millennium new ones have opened or are planning to, (1990 pop. 275,221), seat of Essex co., NE N.J., on the Passaic River and Newark Bay; settled 1666, inc. as a city 1836. It is a port of entry and the largest city in the state. Located only 8 mi (13 km) W of New York City, Newark is a transportation, industrial, commercial, and manufacturing center. Its leather industry dates from the 17th cent., and its still-significant jewelry manufactures and insurance businesses began in the early 19th cent. Among the city's many other products are beer, cutlery, electronic equipment, textiles, pharmaceuticals, fabricated metal items, and paints. Newark International Airport is one of the nation's busiest, and the important seaport is operated by the Port Authority of New York and New Jersey. The city has a large minority population; over 50% of its residents are African Americans and about 30% are Hispanic. Newark's educational institutions include a campus of Rutgers Univ., the New Jersey Institute of Technology, a campus of the Univ. of Medicine and Dentistry of New Jersey, and a preparatory academy founded in 1774. The New Jersey Devils professional hockey team plays in the city.Landmarks include Trinity Cathedral (1810, with the spire of a church built in 1743); the Sacred Heart Cathedral (begun 1899, completed 1954); the First Presbyterian Church (1791); the Newark Public Library (founded 1888); the Newark Museum (1909); and the county courthouse (1906), with Gutzon Borglum's statue of Lincoln in front. Other points of interest include Borglum's large group Wars of America (1926) in Military Park (a Revolutionary War drilling ground and a Civil War tenting area) and many historic homes. Aaron Burr and Stephen Crane were born in Newark.The city was settled (1666) by Puritans from Connecticut under Robert Treat. It was the scene of Revolutionary skirmishes. Industrial growth began after the American Revolution, aided by the development of transportation facilities. The Morris Canal was opened in 1832, and the railroads arrived in 1834 and 1835. A flourishing shipping business resulted, and Newark became the area's industrial center. In the late 19th cent. its industry was further developed, especially through the efforts of such men as Seth Boyden and J. W. Hyatt. Newark Port opened in 1915, and the city's shipbuilding played an important role in World War I.During the latter half of the 20th cent., Newark's economy and living standards greatly declined. Many residents fled to the suburbs, which were marked by a boom in corporate development, shopping center growth, and housing construction. Poverty and unemployment plagued Newark, which in July, 1967, was the scene of a major race riot. Two bright spots have been the port, which since 1985 has had a steady increase in volume of exports of containerized cargo, and Newark International Airport, which has expanded greatly. As part of an effort to revitalize the downtown, the New Jersey Performing Arts Center opened in 1997; an indoor arena and outdoor stadium have been constructed since then

 

"

 

Watch Our Freight 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:

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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 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

 

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.

 

 

"

Bell Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Bell 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, Bell 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. Spring changed to summer, summer changed to fall, and the CEO of Bell, Gerald May, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. 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 Gerald May 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. After work he would confide in his wife, Jean, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Gerald would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" Gerald 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 is a hard economy. It might be awhile until things get settled up.

 

""Gerald knew very well that Jean was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Gerald strolled into his office and was determined to sit down and make every phone call to every client who had owed Bell money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Gerald knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Gerald was realising just how much trouble he was in.Poor Gerald 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.

 

""Can I have a word with you Gerald?"" she queried, standing in the doorway.

 

""Of course Rosa, please come in."" Gerald leaned back in his chair and looked expectantly at Rosaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Gerald."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Gerald interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Gerald said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Gerald studied the documents very closely.""It sounds too good to be true, Rosa,"" he said.""Yes, I know; that's exactly what I thought at the beginning. 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, Gerald,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Gerald said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Gerald thought about this and agreed with Rosaerley. The clients who owed them money were long standing friends and professional resources of Bell. They did not want to throw away these relationships because they were having trouble paying their bills now. Gerald knew only too well that the whole economy was floundering, and that it was not going to change overnight. 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.""Let me go over this tonight Rosa, and thankyou."" Rosa stood up and left Gerald's office, with the nice feeling of knowing that she may just have solved a very serious problem.Gerald sat behind his desk and looked over the details Rosa had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Bell Truck & Haul 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. Gerald was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Alexander the good news,"" muttered Gerald to himself.Gerald's son-in-law, Alexander, loved the idea behind Bell 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. Gerald knew then what struggles Alexander would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Bell was hurting, a little guy like Alexander 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 Gerald 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 took that time and refocused effort to offering competitive prices in new territories. Gerald recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Gerald hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

More than 100,000 people commute to Newark on weekdays, making it the state's largest employment center with many white-collar jobs in insurance, finance, import-export, health-care, and government. As a major courthouse venue including federal, state, and county facilities, it is home to more than 1,000 law firms. The city is also a ""college town"", with nearly 40,000 students attending the city's universities and medical and law schools. Its port and rail facilities make Newark the busiest transhipment hub on the East Coast in terms of volume.Though Newark is not the industrial colossus of the past, the city does have a considerable amount of industry and light manufacturing. The southern portion of the Ironbound, also known as the Industrial Meadowlands, has seen many factories built since World War II, including a large Anheuser-Busch brewery. The service industry is also growing rapidly, replacing those in the manufacturing industry, which was once Newark's primary economy. In addition, transportation has become a large business in Newark, accounting for more than 17,000 jobs in 2011.Newark is one of nine cities in New Jersey designated as eligible for Urban Transit Hub Tax Credits by the state's Economic Development Authority. Developers who invest a minimum of $50 million within 0.5 miles of a train station are eligible for pro-rated tax credit. Since the election of Cory Booker there has been millions of dollars of public-private partnership investment in Downtown development but persistent underemployment continue to characterize many of the city's neighborhoods. Poverty remains a consistent problem in Newark. As of 2010, roughly one-third of the city's population is impoverished.Newark is the third-largest insurance center in the United States, after New York City and Hart. The Prudential Financial and Mutual Benefit Life companies originated in the city. The former, one of the largest insurance companies in the world, has its ""home office in Newark and is constructing a new office tower. Many other companies are headquartered in the city, In addition to other benefits to encourage employment within the Zone, shoppers can take advantage of a reduced 3�% sales tax rate (versus the 7% rate charged statewide) at eligible merchants. While for years there was a dearth of supermarkets, since the millennium new ones have opened or are planning to, (1990 pop. 275,221), seat of Essex co., NE N.J., on the Passaic River and Newark Bay; settled 1666, inc. as a city 1836. It is a port of entry and the largest city in the state. Located only 8 mi (13 km) W of New York City, Newark is a transportation, industrial, commercial, and manufacturing center. Its leather industry dates from the 17th cent., and its still-significant jewelry manufactures and insurance businesses began in the early 19th cent. Among the city's many other products are beer, cutlery, electronic equipment, textiles, pharmaceuticals, fabricated metal items, and paints. Newark International Airport is one of the nation's busiest, and the important seaport is operated by the Port Authority of New York and New Jersey. The city has a large minority population; over 50% of its residents are African Americans and about 30% are Hispanic. Newark's educational institutions include a campus of Rutgers Univ., the New Jersey Institute of Technology, a campus of the Univ. of Medicine and Dentistry of New Jersey, and a preparatory academy founded in 1774. The New Jersey Devils professional hockey team plays in the city.Landmarks include Trinity Cathedral (1810, with the spire of a church built in 1743); the Sacred Heart Cathedral (begun 1899, completed 1954); the First Presbyterian Church (1791); the Newark Public Library (founded 1888); the Newark Museum (1909); and the county courthouse (1906), with Gutzon Borglum's statue of Lincoln in front. Other points of interest include Borglum's large group Wars of America (1926) in Military Park (a Revolutionary War drilling ground and a Civil War tenting area) and many historic homes. Aaron Burr and Stephen Crane were born in Newark.The city was settled (1666) by Puritans from Connecticut under Robert Treat. It was the scene of Revolutionary skirmishes. Industrial growth began after the American Revolution, aided by the development of transportation facilities. The Morris Canal was opened in 1832, and the railroads arrived in 1834 and 1835. A flourishing shipping business resulted, and Newark became the area's industrial center. In the late 19th cent. its industry was further developed, especially through the efforts of such men as Seth Boyden and J. W. Hyatt. Newark Port opened in 1915, and the city's shipbuilding played an important role in World War I.During the latter half of the 20th cent., Newark's economy and living standards greatly declined. Many residents fled to the suburbs, which were marked by a boom in corporate development, shopping center growth, and housing construction. Poverty and unemployment plagued Newark, which in July, 1967, was the scene of a major race riot. Two bright spots have been the port, which since 1985 has had a steady increase in volume of exports of containerized cargo, and Newark International Airport, which has expanded greatly. As part of an effort to revitalize the downtown, the New Jersey Performing Arts Center opened in 1997; an indoor arena and outdoor stadium have been constructed since then

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Ricky Kennedy just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Ricky is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Kennedy Trucking Company was at a turning point of growth and Ricky had to decide if signing with a factoring company was the right way forward.

 

Ricky�s father had started as an owner-operator and had grown Kennedy 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 Ricky�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Ricky�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Ricky 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.

 

Ricky believed a successful man is always thinking of his next step. How would he take Kennedy Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Ricky had to really consider what his next step was going to be. Ricky 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 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. 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Ricky because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Kennedy 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.

 

Feeling happier now, Ricky 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, Ricky could actually expand Kennedy 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?� Dean Gibson asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Dean Gibson 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 Clinton. His company was called Pierce Trucking, named after both of his grandfathers, Vincent and Lewis. They had both been hardworking men, and had done a lot to make Dean the same.Disaster had struck half a year ago, when two trucks in Clinton�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Clinton's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Dean wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Dean knew she was employed by a Factoring company and that her name was Marsha. Dean had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it 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.Dean nodded. It sounded perfect - perhaps too good?.Marsha laughed. �You look like you don�t 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.�Marsha smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Marsha with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Dean completed the form, with Marsha offering advice as needed.

 

The completed profile gave Marsha and her company all the information they needed on Clinton'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. As Dean completed his form, Marsha listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Marsha took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Clinton's hand. He also stood up, and they smiled at each other. They said their goodbyes and Dean walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Marsha though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The 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 there, he was on the right path, and he was working to make things right.Dean 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 really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. 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 Pierce 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.And then the trucks went down, and his success looked to be in flux. He was nearing 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. Clinton's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Corporations Work with Factoring Companies.

 

As the owner of your own company, you may be much more than mindful already of the hardship in making certain that cash flow issues do not become a dilemma down the line. Anyway, the toughest thing that can potentially occur for your firm is to find yourself involved in a long and hard situation that leaves you forever looking for the finances you really need on an on-going basis.

 

For any kind of business enterprise in this instance, the challenge can come for waiting for work to clear up and actually be settled into your statement. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with temporary capital troubles. Gratefully, there are opportunities out there for businesses to consider-- and just one of these is factoring providers.

 

Factoring companies will, in substitution for your invoices, give you with the resources today in order that you do not need to fret about the waiting time frame which could make paying off the expenses and getting toolsmore complicated. With this kind of setup, invoice factoring can become extremely valuable for countless firms who have to avoid a money trap which they have found themselves in.

 

Given that, relying on the scale of the work, it can take up to 60 days for many enterprises to get paid then it is necessary to take care of your own back and definitely not leave yourself resources short to pay off the costs. After all, how many enterprises have two months cash flow just occupying there to address all their overheads until they get paid?

 

This is most especially true of truck agencies. They usually deal with lots of invoices which means a considerable amount of collection time entails company owner themselves. Seeking to get paid off in time can come to be an unbelievable inconvenience and this is the key reasons why you work with trucking factoring organizations who are delighted to help out truckers particularly.

 

As all of us recognize, trucking is an unbelievably massive market with lots of companies out there working with hundreds of operators. Regretfully, quite a few of these drivers end up in money troubles simply because they are still anticipating work from six weeks ago to actually pay them. When this is the circumstance for a trucking business, resorting to factoring companies for support maybe the finest option left.

 

This implies that a trucking business can pay off the paychecks of the crew, keep all the trucks filled with fuel and continue to surmount, flourish and expand without continually waiting for the funds which is taking too prolonged to come in. Trucking Enterprises working without a factoring program established are leaving themselves at significant threat, as competitors cash out promptly and carry on to expand.

 

There's honestly very little to be distressed about when it comes to employing a Factoring firm-- they commonly are not like a financial institution or someone who is going to leave you with a considerable pile of financial obligation to repay. You give them authentic invoices from work you have already accomplished , you are simply expediting the repayment process.

 

In the United states of America, where trucking enterprises survive, factoring providers are not considered accepting loan of in any capacity. This confidential settlement then permits both parties to profit and delight in a comfortable future-- it gives the factoring agency a warranted asset of revenue to add to the list and it supplies the trucking business the required money that they worked hard to earn.

 

The trucking establishment bestows their accounts to the factoring company. The trucking factoring company then acquire the payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for many years by lots of different business-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it signifies that you are receiving the finances today and can actually start off putting the cash to perform.

 

Anyway, an IOU or an invoice is not going to pay for expenditures, is it? For trucking firms when the income can be good one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a substantial measure of time and money to get through the week until they are handed over again.

 

So the next period your trucking enterprise is having some temporary capital challenges and you are investing a lot of time chasing slow paying clienteles, why not start off thinking of employing a factoring companies as a way to get your finances and give yourself a more pleasant future in the eyes of your trucking workers and your bank difference?

 

 

 

 

 

 

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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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. 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.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

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