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How Much is Your Cash Flow Tension Costing Your Company -
Our Freight Invoice Factoring Companies
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Here Is a Quick way to Shore Up Your Cash Flow - Pick 

An Invoice Factoring Company Instead Of A Traditional Bank Financing

Exactly how to Increase Cash Flow Without Borrowing -Cash Money flow is one of the main reasons companies fail.

 

 

 

Your Company might just have become aware of commercial credit factoring but most people may well mistake exactly what it is or much more importantly exactly what it can possibly do for your firm. Receivable Factoring likewise called receivables financing is a kind of asset based lending that will improve a firm's immediate cash flow needs. This is not a loan; no debt is assumed by trucking factoring ,and the financing is unconditional. Invoice Factoring Usa Companies in Factoring Recievables New York City Factoring Companies at Commercialinvoice.org- providing advance factoring services new-york-city-factoring-companies

Commercialinvoice.org-New York City Factoring Companies

 

Invoice Factoring Usa Companies

Why Truck Agencies Make use of Factoring Firms. As the owner of your own establishment, you may be more than perceptive already of the hardship in making certain that cash flow issues do not become a predicament down the line. After all, the toughest thing that can in all probability transpire for your firm is to find yourself involved in a long and problematic predicament that leaves you forever looking for the finances you are in need of on an recurring basis.

 

 

Accountreceivablesfinancing.Org

Factoring Financing Companies

Why Truck Agencies Make use of Factoring Firms. As the owner of your own establishment, you may be more than perceptive already of the hardship in making certain that cash flow issues do not become a predicament down the line. After all, the toughest thing that can in all probability transpire for your firm is to find yourself involved in a long and problematic predicament that leaves you forever looking for the finances you are in need of on an recurring basis.

 

 



Accountreceivablesfinancing.Org

 

"

New York is a vibrant center for commerce and business and one of the three ""world cities"" (along with London and Toyko) that control world finance. Manufacturing�primarily of small but highly diverse types�accounts for a large but declining amount of employment. Clothing and other apparel, such as furs; chemicals; metal products; and processed foods are some of the principal manufactures. The city is also a major center of television broadcasting, book publishing, advertising, and other facets of mass communication. It became a major movie-making site in the 1990s, and it is a preeminent art center, with artists revitalizing many of its neighborhoods. The most celebrated newspapers are the New York Times and the . New York attracts many conventions�including the national Democratic (1868, 1924, 1976, 1980, 1992) and Republican (2004) party conventions�and was the site of two World's Fairs (1939�40; 1964�65). It is served by three major airports: John F. Kennedy International Airport and LaGuardia Airport, both in Queens, and Newark International Airport, in New Jersey. Railroads converge upon New York from all points.With its vast cultural and educational resources, famous shops and restaurants, places of entertainment (including the theater district and many off-Broadway theaters), striking and diversified architecture , and parks and botanical gardens, New York draws millions of tourists every year. Some of its streets and neighborhoods have become symbols throughout the nation. Wall Street means finance; Broadway, the theater; Fifth Avenue, fine shopping; Madison Avenue, advertising; and SoHo, art

 

"

 

Factoring Financing Companies

Why Truck Agencies Make use of Factoring Firms. As the owner of your own establishment, you may be more than perceptive already of the hardship in making certain that cash flow issues do not become a predicament down the line. After all, the toughest thing that can in all probability transpire for your firm is to find yourself involved in a long and problematic predicament that leaves you forever looking for the finances you are in need of on an recurring basis.

 

 



Accountreceivablesfinancing.Org

 

 

 

Accounts Receivable Buyers

 

Accounts Receivable Buyers

 

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow money. What is truck factoring ? One solution is called truck factoring. Trucking Factoring is the process of selling invoices to an investor rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of many of America's most successful businesses. Why is this paradoxical ? Since staffing factoring is not taught in business colleges, is seldom discussed in company strategies and is fairly unidentified to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of companies to grow and succeed. Truck Factoring has been around for thousands of years. Truck Factoring Businesses are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest meaning of the word, these large customer finance business are truly simply large FACTORING Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, even though you do not make payment until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal charges range from 2 to four percent of the sale). The Advantages Truck Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a company can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be met with instant  money.

Invoice Factoring provides the ways for a producer to renew stock and make even more items to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a money management tool for manufacturers: Almost any kind business can take advantage of Factoring Facility. Typically, 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 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, but you can offer that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and easy process. The factoring company purchases the invoice at a price cut, typically a few percentage points less than the face value of the invoice.

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The U.s. Truck Association
states that there around
200,000 work with truck
firms and
300,000 private companies trucking
companies certified to
operate in the United States that transported,
according to their newest data of millions
products, supplies and
basic products .
There are a number of usual
providers either going solo or in
teams on our nation
roadways transporting these
important products to our
shops, manufacturingplants and shipping ports.

And  freight factoring
companies service
several of them and offer their
receivables financing facilities
countrywide counting
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

New York City Factoring Companies

 

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

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

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

 

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

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

 

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

 

 

View Our Freight Factoring Videos For More Information

 

 

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They Grinned When the Banker Spoke to Me in French

 

"

�So, this is not a loan?� Casey Gordon asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Casey Gordon owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Micheal. He named his business Cruz Trucking, named after Ted and Jason, his two grandfathers. Both of these men had been very hardworking and had set a great example for Micheal.Disaster had struck half a year ago, when two trucks in Micheal�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Casey depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Casey had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Casey wasn�t a bad owner, and he hadn�t messed up. 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. Casey knew she was employed by a Factoring company and that her name was Toni. Casey 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.Toni 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. 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.Casey nodded. It sounded good to him, almost too good.Toni laughed. �I'm not sure that you believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Toni smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Toni said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Casey filled the form out, with Toni available to help him if he needed it. The profile filled Toni and her company in on Micheal�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Casey filled out his form, Toni was pretty sure he was a perfect candidate for factoring.Toni took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Micheal�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Casey walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Toni though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was 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 successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Cruz Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He 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 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. Micheal's eyes opened, he sat forward in his chair and turned on his computer. 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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Freight Factoring Companies California

 

"

Hall Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Hall Truck & Haul was the mastermind of a top-rated accounts receivable in 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. The money was flowing, and times were great.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

 

. And worse yet, Hall 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 Hall, Gary Morales, 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 Hall 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. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.To Gary Morales the situation looked desperate. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Jessica and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would ask.Gary would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them 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 could cause this ultimate death spiral of business?""I think I know what it could be,"" Gary 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."" Jessica 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'.""Gary knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Gary strolled into his office and was determined to sit down and make every phone call to every client who had owed Hall 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. Wasting money, wasting time - even with the best of intentions, Gary 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 Christina knocked at his door.

 

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

 

""Sure thing Christina, come on in."" Gary leaned back in his chair and looked expectantly at Christina.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Gary."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound 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.""Gary interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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,� Gary said. �And then what?""Following the completion of their review and once we have 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. The funding commences once we�ve arrived at an agreement.�Gary was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Christina,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Gary,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Gary.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Gary.Gary 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 are facing due to these unpaid debts.""Gary thought about this and agreed with Christina. The customers who were in debt to Hall Truck & Haul were professional resources of the company, but they were also long-standing friends. Gary wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Christina, and thankyou."" Christina nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Gary keep the shirt on his back, and possibly hers too.Gary sat behind his desk and looked over the details Christina had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Hall 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. Gary was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Gary was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Allen about this,"" muttered Gary to himself.Allen is Gary's son-in-law, and he really admired the ideas behind Hall, so much so that only two years before he had started his own transportation service business. At that time Gary knew the struggles Allen would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Hall was hurting, a little guy like Allen was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Gary was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Gary 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. Gary looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Gary hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

 

 

 

 

More They Grinned When the Banker Spoke to Me in French-Articles

 

 

Factoring Companies at Truckingfactoringcompanies.Com

 

 

 

Freight Factoring Companies California

 

Why Truck Agencies Employ Factoring Firms.

 

As the operator of your own establishment, you may be much more than wary already of the difficulty in making certain that capital matters do not become a difficulty down the line. Anyway, the worst thing that can in all probability occur for your business is to find yourself swept up in a long and troublesome condition that leaves you forever looking for the funds you are in need of on an continual manner.

 

For any sort of business enterprise in this situation, the trouble can come for waiting for work to clear up and actually be compensated into your account. Bill of sales, checks, and the like can take some time to actually to be taken care of which can certainly leave you with short-term available resources dilemmas. Thankfully, there are solutions out there for businesses to delve into-- and among these is factoring agencies.

 

Factoring providers will, in trade for your statements, give you with the finances right away so you do not have to stress over the lingering period that could make paying off the bills and purchasing materialsmore troublesome. With this sort of system, invoice factoring can end up being remarkably valuable for various firms who need to avoid a cash trap which they have discovered themselves in.

 

Simply because, depending on the size of the project, it can take up to 60 days for several businesses to get paid then it is essential to take care of your own back and certainly not leave yourself money short to pay the monthly bills. After all, how many business enterprises possess two months cash flow just lying there to handle all their bills until they earn?

 

This is primarily true of truck enterprises. They often tend to deal with great deals of accounts which means a considerable quantity of collection period entails business owner themselves. Making an effort to get paid promptly can end up being an incredible difficulty and this is the reason why you utilize truck factoring organizations who are happy to help out truckers exclusively.

 

As we all know, trucking is an unbelievably massive field with lots of organizations out there utilizing hundreds of drivers. Regretfully, plenty of these drivers wind up in income predicaments since they are still anticipating work from six weeks earlier to actually pay them. When this is the scenario for a truck business, turning to factoring companies for assistance could be the most recommended option left.

 

This signifies that a trucking company can provide the paychecks of the staff, keep all the cars loaded with fuel and continue to go up, evolve and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Enterprises operating without a factoring system put in place are leaving themselves at critical risk, as competitions cash out quickly and carry on to broaden.

 

There's honestly not much to be worried about when it comes to employing a Factoring agency-- they are not like a financial institution or someone who is going to leave you with a substantial stack of liability to pay back. You give them genuine invoices from output you have already completed , you are only just facilitating the repayment process.

 

In the United states of America, where trucking companies prosper, factoring agencies are not considered borrowing in any capacity. This confidential agreement then enables both parties to profit and delight in a worry-free future-- it provides the factoring company a guaranteed asset of profit to add to the list and it offers the trucking business the required finances that they sweated to gain.

 

The trucking firm provides their accounts to the factoring business. The trucking factoring business then receive the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for long times by numerous various industries-- but none exceeding so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending on who you work with, it implies that you are acquiring the cash today and can actually start putting the funds 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 very good one day and gone the next, it is up to the vehicle drivers to work sensibly and to ascertain they are leaving themselves with a significant measure of time and money to get through the week up until they are paid once more.

 

So the next period your trucking company is having some short-term cash flow challenges and you are investing excessive time chasing inactive paying customers, why not start looking at making use of a factoring businesses as a means to get your finances and give yourself a more at ease future in the eyes of your trucking workers and your bank balance?

 

 

 

 

 

 

 

More Freight Factoring Companies California -Articles

 

 

 

New York City Factoring Companies

 

 

 

Factoring Companies at Truckingfactoringcompanies.Com

 

 

 

Freight Factoring Companies California

 

"

Factoring in the Future of a Trucking Business: A Story Chester Williamson let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Chester is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Williamson Trucking Company was at a turning point of growth and Chester had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Chester's father had started this business working as an owner-operator and eventually growing Williamson Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Chester's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Chester�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Williamson 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'. Chester chuckled, thinking about his father. His father had been against placing 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?� 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.

 

Chester knew he was right in his forward thinking. What would be the next step for Williamson Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Chester had to really consider what his next step was going to be. Chester had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He 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 would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Chester because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Williamson Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Chester 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, Chester could actually expand Williamson 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.

 

"

 

 

 

 

 

 

More Freight Factoring Companies California -Articles

 

 

 

 

 

 

 

 

New York City Factoring Companies

 

 

 

 

 

 

Factoring Companies at Truckingfactoringcompanies.Com

 

Factoring Financing Companies

 

Date Published- 2014- 02-24 Freight Factoring Companies California

 

"

Traditional Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional 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. You do not 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 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. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

As you can see 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay 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.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

"
Factoring Companies at Truckingfactoringcompanies.Com

 

 

 

 

 

More Freight Factoring Companies California -Articles

 

 

 

"

Traditional Bank Loans

 

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

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional 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. You do not 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 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. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

As you can see 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 most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay 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.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

"

 

 

 

 

 

 

 

 

Factoring Companies by City

 



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Pittsburgh

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Anchorage

Stockton

Cincinnati

St. Paul

Toledo

Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

Modesto

Fayetteville

Tacoma

Oxnard

Fontana

Columbus

Montgomery

Moreno Valley

Shreveport

Aurora

Yonkers

Akron

Huntington Beach

Little Rock

Augusta

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Glendale

Mobile

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Salt Lake City

Tallahassee

Huntsville

Grand Prairie

Knoxville

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Brownsville

Overland Park

Santa Clarita

Providence

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Chattanooga

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Jackson

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Santa Rosa

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Tempe

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Elk Grove

Salem

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Corona

Eugene

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Springfield

Pasadena

Fort Collins

Hayward

Pomona

Cary

Rockford

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Escondido

McKinney

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Torrance

Bridgeport

Lakewood

Hollywood

Paterson

Naperville

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Mesquite

Dayton

Savannah

Clarksville

Orange

Pasadena

Fullerton

Killeen

Frisco

Hampton

McAllen

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Bellevue

West Valley City

Columbia

Olathe

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New Haven

Miramar

Waco

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Charleston

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Concord

Hartford

Kent

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Victorville

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Santa Clara

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Athens

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Norman

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Murfreesboro

Ann Arbor

Springfield

Berkeley

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Provo

El Monte

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Lansing

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Wilmington

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Carlsbad

Westminster

Rochester

Odessa

Manchester

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