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Here Is a Quick way to Shore Up Your Cash Flow - Our Freight Invoice Factoring Company Can Give
Your Truck Company The Money Your Company Needs

businessfinanceresource.org

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Small freight businesses, specifically those who have actually not been around for extremely long, will frequently discover it tough to protect a loan. Banks are commonly hesitant to lend cash to companies that do not have a lot of earnings and assets. They likewise desire evidence of the viability of a business and thus need that a lot of operations, specifically little ones, been around for a specific quantity of time before they are prepared to hand over any cash. Since of this, a medium-size company frequently has few money producing options when needs emerge. One option available, however often neglected, is receivable Financing. This is an outstanding way for a small company to get cash.

 

 

 

 

 

 

 

Advice to Companies Whose Cash Flow is Troubling - Select A Trucking�Factoring Company  Instead Of A Traditional Bank Financing

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

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of offering invoices to a financier instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the monetary foundation of numerous of America's most successful companies. Why is this ironic ? Since trucking factoring is not instructed in business colleges, is rarely discussed in company plans and is fairly unknown to bulk of most of American business individuals.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and prosper. FACTORING has been around for thousands of years. Invoice Factoring Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these big customer finance companies are really just big Truck Factoring Businesses of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not make payment until you are ready.

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

Receivable Funding provides the means for a manufacturer to renew inventory and make even more items to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for manufacturers: Almost any kind business can benefit from Accounts Receivable Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can offer that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a fast and simple procedure. The factor buys the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

 

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baltimore-factoring-companies

 

The United states Trucking Organization
mentions that there are about
200,000 employees with freight trucking
businesses and
276,000 personal companies trucking
companies certified to
run in the U.S. that carried,
according to their newest searchings for billions of
items, supplies and
fundamental products .
There are numerous usual
providers either going solo or in
groups on our nation
roads transporting these
important products to our
shops, factories and harbors.

And trucking factoring
businesses service
numerous of them and offer their
receivables financing facilities
nationwidecounting
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

 

Baltimore is the largest city in the U.S. state of Maryland and the 26th-most populous city in the country. It is located in the central area of the state along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. The independent city is often referred to as Baltimore City to distinguish it from surrounding Baltimore County. Founded in 1729, Baltimore is the second largest seaport in the Mid-Atlantic United States and is situated closer to Midwestern markets than any other major seaport on the East Coast. Baltimore's Inner Harbor was once the second leading port of entry for immigrants to the United States and a major manufacturing center. After a decline in major manufacturing, industrialization and rail transportation, Baltimore shifted to a service-oriented economy, with the Johns Hopkins Hospital (founded 1889), and Johns Hopkins University (founded 1876), now serving as the city's top two employers.With a population of 621,342 as of July 1, 2012, Baltimore increased by 1,100 residents over the previous year, ending over six decades of population loss since its peak in 1950. The Baltimore Metropolitan Area has grown steadily to approximately 2.7 million residents in 2010; the 20th largest in the country. Baltimore is also a principal city in the larger Baltimore�Washington metropolitan area of approximately 8.4 million residentsOnce a predominantly industrial town, with an economic base focused on steel processing, shipping, auto manufacturing, and transportation, the city experienced deindustrialization which cost residents tens of thousands of low-skill, high-wage jobs. The city now relies on a low-wage service economy, which accounts for 90% of jobs in the city.Around the turn of the century, Baltimore was the leading US manufacturer of rye whiskey and straw hats. It also led in refining of crude oil, brought to the city by pipeline from Pennsylvania.Baltimore's unemployment rate in July 2012 was 11%, and the 2012 closure of a major steel plant at Sparrows Point is expected to have a further impact on employment and the local economy. One quarter of Baltimore residents (and 37% of Baltimore children) live in poverty.The city is home to the Hospital.

 

 

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

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

 

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

 

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

 

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.

 

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

 

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.

 

 

"

Since the mid 1980s Dixon Truck & Haul have been successfully running their freight business. 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 heady times from 2002 to 2007, Dixon was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Dixon in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Randall Mitchell, CEO of Dixon felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Dixon hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Randall Mitchell to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Amber, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Randall 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 on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Randall. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Amber would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Amber was trying so hard to support her husband in these worrying times, while Randall was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Randall strolled into his office and was determined to sit down and make every phone call to every client who had owed Dixon money. 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. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Randall was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Gertrudeerley knocked at his door.

 

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

 

""Of course Gertrude, please come in."" Randall relaxed back into his chair and looked up at Gertrudeerley.""Well Randall, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Gertrudeerley 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?"" Randall interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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.""I see,� Randall said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

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, Randall studied the documents very closely.""I do not know, Gertrude - it just sounds too good to be true"", Randall said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Randall: 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 Randall,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Randall.""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.

 

""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,"" Randall said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Randall thought about this and agreed with Gertrudeerley. The customers who were in debt to Dixon Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Gertrude, and thankyou."" Gertrude stood up and left Randall's office, with the nice feeling of knowing that she may just have solved a very serious problem.Randall 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 Dixon Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Dixon could receive up to fifty-percent cash advances upon load pick-ups. Randall was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Christian the good news,"" Randall muttered to himself.His son-in-law Christian had liked the idea of Dixon so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Randall knew the struggles Christian would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Dixon was hurting, a little guy like Christian was about to catch his death. But, an antidote may have been found in freight factoring and Randall was soon 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 Randall 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. Randall looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

Baltimore is the largest city in the U.S. state of Maryland and the 26th-most populous city in the country. It is located in the central area of the state along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. The independent city is often referred to as Baltimore City to distinguish it from surrounding Baltimore County. Founded in 1729, Baltimore is the second largest seaport in the Mid-Atlantic United States and is situated closer to Midwestern markets than any other major seaport on the East Coast. Baltimore's Inner Harbor was once the second leading port of entry for immigrants to the United States and a major manufacturing center. After a decline in major manufacturing, industrialization and rail transportation, Baltimore shifted to a service-oriented economy, with the Johns Hopkins Hospital (founded 1889), and Johns Hopkins University (founded 1876), now serving as the city's top two employers.With a population of 621,342 as of July 1, 2012, Baltimore increased by 1,100 residents over the previous year, ending over six decades of population loss since its peak in 1950. The Baltimore Metropolitan Area has grown steadily to approximately 2.7 million residents in 2010; the 20th largest in the country. Baltimore is also a principal city in the larger Baltimore�Washington metropolitan area of approximately 8.4 million residentsOnce a predominantly industrial town, with an economic base focused on steel processing, shipping, auto manufacturing, and transportation, the city experienced deindustrialization which cost residents tens of thousands of low-skill, high-wage jobs. The city now relies on a low-wage service economy, which accounts for 90% of jobs in the city.Around the turn of the century, Baltimore was the leading US manufacturer of rye whiskey and straw hats. It also led in refining of crude oil, brought to the city by pipeline from Pennsylvania.Baltimore's unemployment rate in July 2012 was 11%, and the 2012 closure of a major steel plant at Sparrows Point is expected to have a further impact on employment and the local economy. One quarter of Baltimore residents (and 37% of Baltimore children) live in poverty.The city is home to the Hospital.

 

 

More Trucking Factoring Companies Story Articles

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

 

Dustin�s father had started as an owner-operator and had grown Carroll 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 Dustin�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 Dustin�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. He had employees to pay. 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 Carroll Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Dustin allowed himself a good hard chuckle. 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Dustin knew he was right in his forward thinking. How would he take Carroll Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Dustin 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Dustin 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Dustin 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 Carroll 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.

 

Dustin stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Dustin could actually expand Carroll 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?� asked Ray Davis, reclining back into his chair and crossing his legs. The woman sitting across the desk from Ray smiled at him, shaking her head.�No, not exactly,� she said.Ray Davis 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 Darryl. He named his business Castro Trucking, named after Kyle and Enrique, his two grandfathers. Both of these men had been very hardworking and had set a great example for Darryl.Disaster had struck half a year ago, when two trucks in Darryl�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 Darryl'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.Ray was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Ray knew she was employed by a Factoring company and that her name was Connie. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Ray nodded. It sounded perfect - perhaps too good?.Connie laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Connie nodded. �Yes, we get a lot of that. 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 why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Connie with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ray completed the form, with Connie offering advice as needed.

 

The completed profile gave Connie and her company all the information they needed on Darryl'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 Ray completed his form, Connie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Connie took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Darryl�s hand. He stood before they shook as well, and then smiled. Ray walked Connie 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 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 Connie 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 sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Castro Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Ray opened his eyes, sat forward, turned his computer on. He had things 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

Reasons why Truck Companies Use Factoring Companies.

 

As the owner of your own business enterprise, you may likely be much more than knowledgeable already of the challenge in making certain that cash flow concerns do not become a difficulty down the line. After all, the most horrible thing that can in all probability occur for your establishment is to find yourself swept up in a long and challenging predicament that leaves you forever trying to find the finances you need to have on an recurring basis.

 

For any sort of company in this position, the dilemma can come for waiting for work to lapse and actually be settled into your bank account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which can easily leave you with temporary cash flow difficulties. Thankfully, there are approaches out there for industries to check out-- and one of these is factoring agencies.

 

Factoring agencies will, in substitution for your accounts, give you with the money immediately so you do not need to worry about the waiting time span that could make paying the expenses and purchasing materialsmore challenging. With this type of system, invoice factoring can end up being incredibly beneficial for countless businesses who have to get out of a cash lure which they have found themselves in.

 

Since, depending on the scale of the project, it can take up to 60 days for several companies to get compensated then it is vital to cover your own back and not leave yourself resources short to pay the bills. After all, how many establishments possess two months income just lying there to handle all their overheads until they earn?

 

This is most notably correct of trucking firms. They often handle lots of accounts which means a serious quantity of collection period entails company owner themselves. Attempting to get compensated promptly can develop into an extraordinary inconvenience and this is exactly why you make use of trucking factoring companies who are pleased to help out truckers particularly.

 

As all of us know, trucking is an astonishingly large industry with a lot of organizations out there hiring hundreds of operators. Unfortunately, many of these drivers wind up in money dilemmas considering that they are still expecting work from six weeks in the past to actually pay them. When this is the situation for a truck company, consulting factoring firms for support might be the best option left.

 

This means that a trucking corporation can compensate the paychecks of the staff, keep all the trucks loaded with fuel and continue to escalate, rise and expand without continually waiting for the resources which is taking too long to come in. Trucking Companies running without a factoring program applied are leaving themselves at significant danger, as contenders cash out promptly and continue to grow.

 

There's honestly nothing at all to be worried about when it comes to using a Factoring establishment-- they typically are not like a bank or someone who is going to leave you with a large stockpile of personal debt to repay. You give them genuine invoices from output you have already accomplished , you are only just speeding up the payment process.

 

In the United States, where trucking companies thrive, factoring companies are not considered getting a loan in any capacity. This private settlement then makes it possible for both parties to benefit and indulge in a comfortable future-- it gives the factoring company a guaranteed asset of revenue to include in the list and it supplies the trucking firm the required finances that they sweated to generate.

 

The trucking enterprise presents their statements to the factoring enterprise. The trucking factoring business then receive the payments from the trucking company's customers. Factoring has been in existence for hundreds of years and has been employed for long times by numerous varied markets-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are acquiring the money today and can actually start putting the funds to work.

 

After all, an IOU or an invoice is not actually going to pay for costs, is it? For trucking establishments when the funds can be excellent one day and gone the next, it is up to the drivers to work smartly and to ascertain they are leaving themselves with a substantial measure of time and finance to get through the week up until they are paid once more.

 

So the next instance your trucking business is bearing some short-term capital challenges and you are devoting excessive time chasing sluggish paying customers, why not begin looking at using a factoring businesses as a manner to get your money and give yourself a more comfortable future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. 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.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. 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 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. 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.Interest is Paid 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 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. 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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Baltimore

 

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