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For The Business Who Wants To Look Better - Our Factoring Company Can Give
Your Trucking Company The Cash You Need

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Truck Factoring is beneficial for several reasons. It allows a trucking business to raise money without obtaining new financial obligation. While financial obligation is in some cases essential, most truck businesses would like to raise cash without borrowing money. Financial obligation is dangerous, and when it can not be paid back, assets can be repossessed. If the debt is huge enough, it might even require a freight broker firm out of business.

 

 

 

 

 

 

 

How To Get More Cash - Pick An Invoice Factoring Company Instead Of A Typical Bank Financing

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

At one time or another, every business, even effective ones, have experienced bad money flow.

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other options are available and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the process of offering accounts receivable to a financier rather than waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of numerous of America's most successful businesses. Why is this paradoxical ? Because receivable funding is not instructed in business colleges, is seldom mentioned in business strategies and is relatively unidentified to the majority of most of American company individuals.

Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Receivable Loan Financing has been around for thousands of years. Staffing Factoring Businesses are investors who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest meaning of the word, these large customer finance companies are really simply big Accounts Receivable Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, although you do not pay until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Accounts Receivable Factoring can provide 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 business can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be satisfied with instant  cash.

Accounts Receivable Factoring provides the ways for a manufacturer to renew stock and make more products to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not simply a cash management device for producers: Practically any kind company can take advantage of Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a quick and simple procedure. The factor buys the invoice at a discount, typically a few portion points less than the face value of the invoice.

 

 

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The American Trucking Association
specifies that there around
200,000 truck drivers with truck
businesses and
276,000 private providers trucking
firms certified to
run in the U.S. that transported,
according to their most current searchings for billions of
products, supplies and
fundamental products .
There are numerous usual
providers either going solo or in
teams on our country
highways carrying these
important products to our
stores, manufacturingplants and harbors.

Plus freight bill factoring
companies aid
many of them and offer their
factoring services
countrywidecounting
including the following states.

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

 

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Colorado Springs is the second-largest city in Colorado, after Denver. It is the seat of El Paso County, making up about three-quarters of the county's population. It is located on the edge of the Rocky Mountains, with Pikes Peak (14,110 ft) towering beside it to the west. To the east begin the Great Plains.The city was founded in 1871. Gen. William Jackson Palmer, a Pennsylvania-born Civil War veteran, came across the scenic spot in his railroad travels and was inspired to begin a new resort community there. The subsequent development of Colorado Springs was iuenced in part by an iux of English tourists later in the 1870s and by the discovery of gold in nearby Cripple Creek in the 1890s. Millionaire businessmen and philanthropists, such as Spencer Penrose, Charles Tutt, and Winfield Scott Stratton, helped to establish the city's infrastructure and shape its popularity as a tourist destination.During World War II, Colorado Springs sold a large amount of land just south of the city to the military. The U.S. Army established Fort Carson as a training facility. The military presence in Colorado Springs continued to grow with the establishment of the U.S. Air Force Academy there in the 1950s, and later, the construction of Peterson Air Force Base, Falcon Air Force Base, and Cheyenne Mountain Air Force Base. The bases are all home to space command centers (with Cheyenne Mountain housing the headquarters for the North American Aerospace Defense Command [NORAD]) and have collectively earned Colorado Springs its national reputation as the leading center for military space operations.The city's economy is still based heavily on tourism, although in more recent years, Colorado Springs has gained a strong foothold in the electronics, high-technology, and manufacturing industries. The city is the headquarters of the U.S. Olympic Committee and Olympic Training Center facility.Colorado Springs is a Home Rule Municipality that is the county seat and most populous city of El Paso County, Colorado, United States. Colorado Springs is located in the east central portion of the state. It is situated on Fountain Creek and is located 60 miles (97 km) south of the Colorado State Capitol in Denver. At 6,035 feet (1,839 m) the city stands over one mile (1.6 km) above sea level, though some areas of the city are significantly higher and lower. Colorado Springs is situated near the base of one of the most famous American mountains, Pikes Peak, rising over 8,000 feet above the city on the eastern edge of the Southern Rocky Mountains. The United States Air Force Academy is located in Colorado Springs. The city is often referred to as ""The Springs.""The city had an estimated population of 439,886 in 2013., making it the second most populous city in the state of Colorado, behind Denver, and the 41st most populous city in the United States, while the Colorado Springs Metropolitan Statistical Area had an estimated population of 678,319 in 2013. The city covers 194.7 square miles (504 km2), making it Colorado's largest city in area. Colorado Springs was selected as the No. 1 Best Big City in ""Best Places to Live"" by Money magazine in 2006, and placed number one in Outside's 2009 list of America's Best Cities

 

"

 

View Our Trucking Factoring YouTube Videos For More Information

 

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

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

 

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

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

 

 

"

Scott Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Scott 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. 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 Scott 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, Stephen Warren, CEO of Scott felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't 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. 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 Stephen Warren the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. At night he would speak to his wife Rebecca and shake his head in frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Stephen would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" Stephen said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Rebecca could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Stephen 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 following day Stephen walked into his office with a spring in his step, determined to call each and every client who owed money to Scott Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Stephen 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 Lauraerley knocked at his door.

 

""Can I have a word with you Stephen?"" she asked standing in the doorway.

 

""Of course Laura, please come in."" Stephen relaxed back into his chair and looked up at Lauraerley.""Well Stephen, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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 of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Stephen 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. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Stephen 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. We come to an agreement and the funding starts pouring out.�Stephen was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Laura,"" he said.""Now, now, I know, I thought the same thing. But think about it, Stephen: 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 Stephen,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Stephen.""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,"" Stephen said.Stephen 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.""Stephen took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Scott 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. Stephen knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Laura, thank you."" Laura nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Stephen keep the shirt on his back, and possibly hers too.Stephen 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 Scott 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. Stephen was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Stephen 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 Jacob about this,"" muttered Stephen to himself.Jacob is Stephen's son-in-law, and he really admired the ideas behind Scott, so much so that only two years before he had started his own transportation service business. At that time Stephen knew the struggles Jacob would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Scott was hurting, a little guy like Jacob was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Stephen was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Stephen looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

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Colorado Springs is the second-largest city in Colorado, after Denver. It is the seat of El Paso County, making up about three-quarters of the county's population. It is located on the edge of the Rocky Mountains, with Pikes Peak (14,110 ft) towering beside it to the west. To the east begin the Great Plains.The city was founded in 1871. Gen. William Jackson Palmer, a Pennsylvania-born Civil War veteran, came across the scenic spot in his railroad travels and was inspired to begin a new resort community there. The subsequent development of Colorado Springs was iuenced in part by an iux of English tourists later in the 1870s and by the discovery of gold in nearby Cripple Creek in the 1890s. Millionaire businessmen and philanthropists, such as Spencer Penrose, Charles Tutt, and Winfield Scott Stratton, helped to establish the city's infrastructure and shape its popularity as a tourist destination.During World War II, Colorado Springs sold a large amount of land just south of the city to the military. The U.S. Army established Fort Carson as a training facility. The military presence in Colorado Springs continued to grow with the establishment of the U.S. Air Force Academy there in the 1950s, and later, the construction of Peterson Air Force Base, Falcon Air Force Base, and Cheyenne Mountain Air Force Base. The bases are all home to space command centers (with Cheyenne Mountain housing the headquarters for the North American Aerospace Defense Command [NORAD]) and have collectively earned Colorado Springs its national reputation as the leading center for military space operations.The city's economy is still based heavily on tourism, although in more recent years, Colorado Springs has gained a strong foothold in the electronics, high-technology, and manufacturing industries. The city is the headquarters of the U.S. Olympic Committee and Olympic Training Center facility.Colorado Springs is a Home Rule Municipality that is the county seat and most populous city of El Paso County, Colorado, United States. Colorado Springs is located in the east central portion of the state. It is situated on Fountain Creek and is located 60 miles (97 km) south of the Colorado State Capitol in Denver. At 6,035 feet (1,839 m) the city stands over one mile (1.6 km) above sea level, though some areas of the city are significantly higher and lower. Colorado Springs is situated near the base of one of the most famous American mountains, Pikes Peak, rising over 8,000 feet above the city on the eastern edge of the Southern Rocky Mountains. The United States Air Force Academy is located in Colorado Springs. The city is often referred to as ""The Springs.""The city had an estimated population of 439,886 in 2013., making it the second most populous city in the state of Colorado, behind Denver, and the 41st most populous city in the United States, while the Colorado Springs Metropolitan Statistical Area had an estimated population of 678,319 in 2013. The city covers 194.7 square miles (504 km2), making it Colorado's largest city in area. Colorado Springs was selected as the No. 1 Best Big City in ""Best Places to Live"" by Money magazine in 2006, and placed number one in Outside's 2009 list of America's Best Cities

 

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More Trucking Factoring Companies Story Articles

"

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

 

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

 

To move Campbell Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Campbell Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Henry allowed himself a good hard chuckle. 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.

 

Henry believed a successful man is always thinking of his next step. How would he take Campbell Trucking to the next level? 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 a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Henry to do his homework. Henry 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Henry it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Henry 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 Campbell 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.

 

Feeling happier now, Henry stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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. He suddenly realized that, with this new cash flow, he could actually expand Campbell Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Clyde Mills, reclining back into his chair and crossing his legs. The woman sitting across the desk from Clyde smiled at him, shaking her head.�No, not exactly,� she stated.Clyde Mills 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 Brad. He named his business Black Trucking, named after Leonard and Nelson, his two grandfathers. They had both been hardworking men, and had done a lot to make Clyde the same.Six months ago disaster struck Brad's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Clyde 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 Clyde had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Clyde wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Roberta and she worked for a factoring company. 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.Roberta explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Clyde agreed. It sounded perfect - perhaps too good?.Roberta 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.�Roberta 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 what we�re here for.""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 Roberta with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Clyde filled the form out, with Roberta available to help him if he needed it. The profile filled Roberta and her company in on Brad�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Clyde filled out his form, Roberta was pretty sure he was a perfect candidate for factoring.When the form was done Roberta took it and slid it into her briefcase. Standing up, she reached over the desk and shook Brad's hand. He also stood up, and they smiled at each other. They said their goodbyes and Clyde walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.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 Roberta 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.All those long, sleepless nights. The sudden panic attacks, not matter 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. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Black 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 was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Clyde 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

Why Truck Establishments Employ Factoring Companies.

 

As the operator of your own firm, you may perhaps be much more than aware already of the difficulty in making sure that capital issues do not become a dilemma down the line. Anyway, the most awful thing that can potentially develop for your company is to find yourself dragged in a long and difficult situation that leaves you forever looking for the resources you really need on an ongoing manner.

 

For just about any enterprise in this scenario, the complication can come for waiting for work to lapse and actually be compensated into your bank account. Invoices, checks, and the like can take some time to actually to be taken care of which may leave you with short-term cash flow dilemmas. Fortunately, there are approaches out there for companies to examine-- and just one of these is factoring providers.

 

Factoring firms will, in trade for your accounts, offer you with the cash asap to ensure that you do not have to worry about the waiting duration that could make paying off the bills and getting materialsmore difficult. With this style of arrangement, invoice factoring can end up being incredibly valuable for countless establishments who need to get out of a cash pitfall which they have discovered themselves in.

 

Since, basing on the size of the task, it can take up to 60 days for some companies to get compensated then it is vital to cover up your own back and certainly not leave yourself funds short to pay off the expenses. After all, how many establishments have two months cash flow just occupying there to address all their costs till they earn?

 

This is especially correct of trucking establishments. They have the tendency to manage bunches of statements which means a huge volume of collection period entails company owner themselves. Making an effort to get paid out in time can turn into an extraordinary struggle and this is the key reasons why you use truck factoring companies who are happy to help out truckers particularly.

 

As most of us understand, trucking is an astonishingly huge field with many companies out there employing hundreds of vehicle drivers. Regrettably, many of these drivers land up in income problems considering that they are still expecting work from six weeks ago to actually pay them. When this is the case for a truck agency, depending on factoring companies for solutions maybe the most suitable alternative left.

 

This implies that a trucking organization can pay out the salaries of the personnel, keep all the trucks refilled with fuel and continue to go up, flourish and expand without always waiting for the income which is taking too lengthy to come in. Trucking Enterprises running without a factoring system applied are leaving themselves at substantial danger, as competitions cash out promptly and go on to grow.

 

There's absolutely not a thing to be distressed about when it comes to making use of a Factoring company-- they typically are not like a bank or a person who is going to leave you with a massive pile of personal debt to pay back. You give them legitimate invoices from output you have already finalized , you are only quickening the payment system.

 

In the United States, where trucking establishments thrive, factoring enterprises are not considered getting a loan in any capacity. This confidential agreement then enables both parties to make money and delight in a convenient future-- it provides the factoring provider a warranted asset of income to add to the list and it furnishes the trucking business the needed money that they worked hard to generate.

 

The trucking establishment provides their invoices to the factoring establishment. The trucking factoring provider then take the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for several years by several varying fields-- but none exceeding so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you deal with, it implies that you are obtaining the resources today and can actually begin setting the funds to operate.

 

Once and for all, an IOU or an invoice is certainly not going to pay for overheads, is it? For trucking establishments when the income can be very good one day and gone the next, it is up to the drivers to work sensibly and to ascertain they are leaving themselves with a notable measure of time and finance to get through the week up until they are paid for once again.

 

So the next instance your trucking establishment is having some temporary capital problems and you are investing way too much time chasing slowly paying clienteles, why not start looking at employing a factoring companies as a way to get your money and give yourself a more convenient future in the eyes of your trucking crew and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose 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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

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

 

2. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. 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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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

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