Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

You Can Laugh at Money Worries - if You Follow This Simple Plan -
Our Accounts Receivable Factor
Can Give
Your Freight Company
The Money You Want

 

 

trucking factoring company

best trucking factoring company

freight bill factoring

trucking and factoring

Using a Truck Factoring Company is useful for several reasons. It enables a trucking business to raise cash without obtaining brand-new financial obligation. While debt is in some cases needed, most trucking firms would choose to raise cash without borrowing money. Financial obligation is risky, and when it can't be repaid, assets can be repossessed. If the debt is big enough, it might even force a trucking companies out of business.

Great New Discovery Kills Cash Flow Problems Quick! - Select 

An Invoice Factoring Company Instead Of A Typical Bank Financing

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

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

Cash flow does not have to be an issue any 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 money. What is truck factoring ? One solution is called accounts receivable factor. Trucking Factoring is the procedure of offering accounts receivable to a financier rather than waiting to collect the cash from the customer. Oh, the Irony- Truck factoring has a paradoxical difference: It is the monetary backbone of many of America's most effective businesses. Why is this paradoxical ? Since commercial factoring is not instructed in business colleges, is rarely mentioned in business strategies and is relatively unknown to the majority of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, enabling countless companies to grow and succeed. Accounts Receivable Factoring has actually been around for countless years. Receivable Loan Financing Companies are investors who pay money 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 actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest meaning of the word, these large customer finance companies are truly simply big Commercial Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, even though you do not make payment up until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal fees vary from two to 4 percent of the sale). The Benefits Receivable Financing can offer numerous benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has already been delivered, a business can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  cash.

Accounts Receivable Factor offers the means for a manufacturer to renew stock and make more items to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Almost any type company can benefit from Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in invoices 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 truck factoring companies is a quick and easy procedure. The factor buys the invoice at a price cut, typically a couple of percentage points less than the stated value of the invoice.

 

 

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

E-mail Us


or complete the
OnLine


Trucking Factoring Request Kind

 

The United states Truck Organization
specifies that there are about
200,000 work with freight trucking
businesses and
250,000 private companies trucking
firms accredited to
run in the U.S. that carried,
according to their newest data of millions
items, supplies and
standard products .
There are several usual
providers either going solo or in
teams on our nation
roadways transporting these
crucial products to our
shops, factories and ports.

Moreoverfreight invoice factoring
companies service
countless of them and offer their
accounts receivablesfinancing facilities
countrywide including
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

accounts-receivable-factor

 

View Our Trucking Factoring Companies YouTube Videos For More Information

 

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

EveryTruckJob.com is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryTruckJob.com is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

EveryTruckJob.com is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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 Truckers Place.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

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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

 

 

"

Thompson Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Thompson was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. And worse yet, Thompson 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 Thompson, Kenneth Thomas, 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 already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't 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 Thompson money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Thompson hadn't gone elsewhere. The had just gone!.The situation looked dire to Kenneth Thomas. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Donna and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Kenneth 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. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Kenneth said. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" All Donna could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Kenneth knew very well that Donna 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 following day Kenneth walked into his office with a spring in his step, determined to call each and every client who owed money to Thompson Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Kenneth knew that he was in trouble.

 

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 Rutherley knocked at his door.

 

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

 

""Sure thing Ruth, come on in."" Kenneth leaned back in his chair and looked expectantly at Rutherely.""Well Kenneth, this afternoon I did some research, trying to work out how we're 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 the word factoring?"" Rutherley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""""Immediately?"" Kenneth interrupted.""Immediately, yes"" she added, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.��Kenneth replied cautiously ""I see - and what happens then?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. Once we arrive at a mutual agreement, the funding begins.�Kenneth leaned forward and reviewed the paperwork closely.""I don't know, Ruth - it just sounds too good to be true"", Kenneth said quietly.""Now, now, I know, I thought the same thing. But think about it, Kenneth: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Kenneth,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Kenneth.""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're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Kenneth.Kenneth took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Kenneth took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Thompson Truck & Haul were professional resources of the company, but they were also long-standing friends. Kenneth wasn't prepared to lose these relationships just because they were having financial issues at the moment. Kenneth knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Let me go over this tonight Ruth, and thankyou."" Ruth stood up and left Kenneth's office, with the nice feeling of knowing that she may just have solved a very serious problem.Kenneth stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Thompson Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Kenneth 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.""Well, I'll have to tell Lester about this,"" muttered Kenneth to himself.Kenneth's son-in-law, Lester, loved the idea behind Thompson 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. Kenneth knew then what struggles Lester would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Thompson was struggling then the little guys, like Lester, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Kenneth was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Kenneth found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Kenneth recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Kenneth hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Ramon Austin let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Ramon is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Austin Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

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

 

To move Austin Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Austin Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Ramon chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Ramon believed a successful man is always thinking of his next step. How would he take Austin Trucking to the next level? More importantly, how could he 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.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

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

 

But it turned out to be quite easy. 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 didn�t mind signing 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 wouldn't 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Ramon it was quite a relief to be dealing with the factoring company. 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 Ramon 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 Austin 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.

 

Ramon 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, Ramon could actually expand Austin 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 wouldn't be inheriting a financial mess.

 

"

 

 

View Our Factoring Video For More Information

 

 

 

 

 

 

 

 

 

Trucking Factoring  Articles

�So, this is not a loan?� Darrell Morgan asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Darrell smiled at him, shaking her head.�Not quite,� she stated.Darrell was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Raymond. He named his business Hill Trucking, named after Vernon and Kent, his two grandfathers. Both of these men had been very hardworking and had set a great example for Raymond.Six months ago disaster struck Raymond'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 Raymond'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 Darrell had on hand.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Darrell was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Darrell knew she was employed by a Factoring company and that her name was Janet. Darrell 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.Janet 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.Darrell nodded. It sounded good to him, almost too good.Janet 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 actually thought I might end up losing my business.�Janet nodded. �Yes, we get a lot of that. 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,� Janet said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Darrell completed the form, with Janet offering advice as needed.

 

The profile filled Janet and her company in on Raymond�s company, and would help them determine if he was 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 Darrell filled out his form, Janet was pretty sure he was a perfect candidate for factoring.Janet took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Raymond�s hand. He stood before they shook as well, and then smiled. Darrell walked Janet to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Janet and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was 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.Darrell 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. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Hill Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Darrell opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.

 

 

 

 

More Trucking Factoring Company Story Articles

The reason why Trucking Establishments Work with Factoring Firms.

 

As the operator of your own business enterprise, you may likely be more than perceptive already of the hardship in making certain that capital matters do not become a dilemma down the line. Anyway, the toughest thing that can in all probability take place for your business is to find yourself dragged in a long and problematic situation that leaves you forever looking for the funds you need on an continuing manner.

 

For pretty much any enterprise in this predicament, the complication can come for waiting for work to clear up and actually be brought in into your bank account. Statements, checks, and the like can take some time to actually to beprocessed which can certainly leave you with short-term cash flow issues. Gratefully, there are opportunities out there for companies to explore-- and just one of these is factoring providers.

 

Factoring firms will, in substitution for your bill of sales, supply you with the funds now to ensure you don't have to stress over the lingering phase which could make paying off the expenses and obtaining materialsmore challenging. With this kind of arrangement, invoice factoring can become extremely useful for many enterprises who ought to avoid a cash pitfall which they have discovered themselves in.

 

Considering that, basing on the volume of the work, it can take up to 60 days for several establishments to get paid out then it's necessary to cover your own back and not leave yourself money short to pay off the monthly bills. After all, how many businesses possess two months profits just occupying there to handle all their expenditures until they get paid?

 

This is primarily true of trucking establishments. They usually take care of lots of statements which means a significant amount of collection period entails company owner themselves. Attempting to get paid in time can become an extraordinary hassle and this is why you utilize truck factoring companies who are thrilled to help out truckers primarily.

 

As we all realize, trucking is an incredibly huge business with many organizations out there hiring hundreds of drivers. Regrettably, numerous of these drivers end up in income difficulties simply because they are still anticipating work from six weeks in the past to actually compensate them. When this is the scenario for a trucking organization, depending on factoring providers for aid maybe the most recommended option left.

 

This signifies that a truck company can pay off the paychecks of the workers, keep all the trucks filled with fuel and continue to scale, evolve and expand without constantly waiting for the funds which is taking too prolonged to come in. Trucking Firms functioning without a factoring system established are leaving themselves at critical threat, as contenders cash out fast and carry on to grow.

 

There's honestly nothing at all to be distressed about when it comes to employing a Factoring business-- they usually are not like a banking company or someone who is going to leave you with a significant mound of liability to repay. You give them legitimate invoices from job you have already finished , you are just facilitating the payment system.

 

In the United states of America, where truck enterprises thrive, factoring firms are not considered taking on loan in any capacity. This private agreement then lets both groups to make money and experience a comfortable future-- it provides the factoring firm a secured asset of income to include in the list and it furnishes the trucking business the needed funds that they sweated to obtain.

 

The trucking establishment gives their invoices to the factoring establishment. The trucking factoring agency then obtain the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for several years by plenty of different fields-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you partner with, it signifies that you are getting the cash today and can actually start setting the money to work.

 

After all, an IOU or an invoice is absolutely not going to fund bills, is it? For trucking firms when the funds can be excellent one day and gone the next, it's up to the drivers to work prudently and to make sure they are leaving themselves with a considerable measure of time and money to get through the week until they are paid once again.

 

So the next moment your trucking enterprise is enduring some short-term cash flow challenges and you are putting in an excessive amount of time chasing slow paying clienteles, why not begin looking into making use of a factoring companies as a manner to get your cash and give yourself a more worry-free future in the eyes of your trucking staff and your bank dividend?

 

 

 

 

 

 

"

Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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.

 

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 Won't Incur Debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is 'buying' your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. 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 not only are you relieved of those monthly loan payments, but you also don't 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 from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

"

 

 

Accounts Receivable Buyers

 

Accounts Receivable Factor

 

Accounts Receivable Factoring

 

Accounts Receivable Factoring Companies

 

Accounts Receivable Factoring Rates

 

Accounts Receivable Financing

 

Accounts Receivable Financing Companies

 

Accounts Receivable Financing Rates

 

Accounts Receivable Lending

 

Accounts Receivable Loans

 

Best Factoring Companies

 

Best Factoring Companies For Freight Brokers

 

Best Freight Factoring Companies

 

Best Invoice Factoring Company

 

Best Rated Factoring Companies

 

Best Truck Factoring Companies

 

Best Trucking Factoring Company

 

Business Accounts Receivable Loans

 

Buy Accounts Receivable

 

Buy Receivables

 

Factoring Business

 

Factoring Companies Brokers

 

Factoring Companies For Freight Brokers

 

Factoring Companies For Small Businesses

 

Factoring Companies Reviews

 

Factoring Companies Truckers

 

Factoring Companies Used By Trucking Companies

 

Factoring Company

 

Factoring Company Rates

 

Factoring Financing

 

Factoring Loan

 

Factoring Loans

 

Factoring Receivables Companies

 

Factoring Services

 

Factoring Services For Trucking Companies

 

Factoring Small Business

 

Find The Best Factoring Companies

 

Freight Bill Factoring

 

Freight Bill Factoring Companies

 

Freight Broker Factoring Companies

 

 

 

Freight Factoring Companies

 

Freight Factoring Company

 

Freight Factoring Services

 

Freight Invoice Factoring

 

Invoice Factoring Companies

 

Invoice Factoring Rates

 

Invoice Factoring Reviews

 

Invoice Factoring Services

 

Largest Factoring Companies

 

List Of Factoring Companies

 

Medical Factoring Companies

 

Medical Staffing Factoring

 

Oilfield Services Factoring Companies

 

Oilfield Factoring Companies

 

Oilfield Services Factoring

 

Receivable Factoring

 

Receivable Factoring Companies

 

Receivable Factoring Rates

 

Receivable Loan

 

Receivables Factoring

 

Receivables Factoring Companies

 

Receivables Factoring Rates

 

Receivables Factoring With Recourse

 

Reviews The Best Factoring Company For Trucking

 

Sale Of Accounts Receivable

 

Sale Receivables

 

Sell Account Receivables

 

Sell Receivables

 

Sell Your Accounts Receivable

 

Staffing Factoring

 

Staffing Factoring Company

 

Staffing Factoring Companies

 

Top Factoring Companies

 

Top Invoice Factoring Companies

 

Top Rated Factoring Companies

 

Transportation Factoring

 

Transportation Factoring Trucking

 

Truck Factoring Companies

 

Trucker Factoring

 

Trucking Factoring Companies