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The Secrets of Making People Like You Get - Our Freight Invoice Factoring Company Can Give
Your Trucking Company The Money You Need

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Medium-Size freight brokerage companies, specifically those who have not been around for really long, will typically discover it challenging to secure a loan. Banks are typically hesitant to provide cash to businesses that do not have a great deal of income and properties. They likewise desire proof of the practicality of a company and thus need that many operations, especially small ones, been around for a certain quantity of time before they are willing to turn over any money. Due to the fact that of this, a medium-size company frequently has few money creating options when requires emerge. One alternative readily available, however frequently ignored, is invoice factoring. This is an exceptional method for a small company to get cash.

 

 

 

 

 

 

 

I liked this product so much - that I  - Choose A Freight Bill�Factoring Company  Instead Of A Typical Bank Financing

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

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

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow money. Exactly what is truck factoring ? One solution is called truck factoring. Trucking Factoring is the process of selling accounts receivable to an investor instead of waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful businesses. Why is this ironic ? Because receivable financing is not taught in business colleges, is rarely mentioned in company plans and is fairly unidentified to bulk of most of American company individuals.

Yet it is a financial process that frees billions of dollars every year, enabling countless businesses to grow and succeed. FACTORING has actually been around for countless years. Factoring Companies are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest definition of the word, these big customer finance companies are truly just big Commercial Factoring Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money almost instantly, even though you do not pay up until you are prepared.

For this service, the charge card business charges Sears a fee (typical common normal charges vary from two to four percent of the sale). The Benefits Accounts Receivable Factoring can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a business can factor (sell) its receivables for cash at a small price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be satisfied with instant  money.

Receivable Funding provides the ways for a producer to replenish inventory and make even more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for manufacturers: Almost any type business can benefit from Staffing Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and easy process. The factor buys the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

 

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columbus-factoring-companies

 

The United states Trucking Association
mentions that there around
205,000 workers with freight trucking
firms and
276,000 private service providers trucking
firms certified to
operate in the U.S. that carried,
according to their newest listings of millions of
products, materials and
basic products .
There are numerous usual
carriers either going solo or in
groups on our country
highways transferring these
important items to our
shops, manufacturingplants and harbors.

Furthermore truck factoring
corporations service
countless of them and offer their
accounts receivablesfinancing services
nationallycounting
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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Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

Watch Our Freight Factoring Companies YouTube Videos For More Information

 

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

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.

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

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.

 

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.

 

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.

 

 

"

Mcdonald 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 heady times from 2002 to 2007, Mcdonald was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Mcdonald 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 Mcdonald, Glenn Mccoy, 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 something wrong or different when it came to reaching out to delinquent 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.This current state-of-affairs was causing Glenn Mccoy to have some very restless nights. Glenn was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. At night he would speak to his wife Edith and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Glenn 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 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,"" Glenn said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Edith 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'.""Glenn knew very well that Edith was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Glenn walked into his office with a spring in his step, determined to call each and every client who owed money to Mcdonald Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Glenn knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. 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, Glenn knew that he was in trouble.

 

Poor Glenn spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Of course Allison, please come in."" Glenn leaned back in his chair and looked expectantly at Allisonerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Glenn."" 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 sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Glenn interrupted.""Immediately, yes"" she added, ""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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Glenn replied cautiously ""I see - and what happens then?""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. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Glenn studied the documents very closely.""I do not know, Allison - it just sounds too good to be true"", Glenn said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Glenn,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Glenn.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" Glenn said.Glenn 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.""Glenn took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Mcdonald. They did not want to throw away these relationships because they were having trouble paying their bills now. Glenn knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. 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.""Let me go over this tonight Allison, and thankyou."" Allison nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Glenn keep the shirt on his back, and possibly hers too.Glenn stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Mcdonald with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Mcdonald could receive up to fifty-percent cash advances upon load pick-ups. Glenn 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 Virgil about this,"" muttered Glenn to himself.Glenn's son-in-law, Virgil, loved the idea behind Mcdonald and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Glenn knew then what struggles Virgil would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Mcdonald was struggling then the little guys, like Virgil, were going to be in even more trouble.

 

Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Glenn found himself beginning to dig his way out of the hole his delinquent account holders 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. Glenn recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

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Columbus has a generally strong and diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology. Overall, it was ranked as one of the top 10 best big cities in the country in 2010, according to Relocate America, a real estate research firm. ranked Columbus and its metro area as the No. 7 best place in the country to operate a business in 2008. In 2012, Magazine ranked the city as the best city for working moms. In 2007, the city was ranked No. 3 in the United States by fDi magazine for ""Cities of the Future"", and No. 4 for most business-friendly in the country. Columbus was ranked as the seventh strongest economy in the United States in 2006, and the best in Ohio, according to Corp. In 2011, the Columbus metropolitan area's GDP was $94.7 billion, up from $90 billion in 2009, up from $85.5 billion in 2006, $75.43 billion in 2005, and $69.98 billion in 2001. SERS building, downtownDuring the recession beginning in late 2007, Columbus' economy was not impacted as much as the rest of the country, due to decades of diversification work by long-time corporate residents, business leaders, and political leaders. The current administration of mayor has continued this work, although the city faced financial turmoil and had to increase taxes, due in part to alleged fiscal mismanagement. Because Columbus is the state capital, there is a large government presence in the city. Including city, county, state, and federal employers, government jobs provide the largest single source of employment within Columbus.In 2013, the city had four corporations named to the U.S. Fortune 500 list: located in suburban Dublin. Other major employers in the area include numerous schools (for example, The Ohio State University) and hospitals, hi-tech research and development including the in Columbus. Major foreign corporations operating or with divisions in the city include .

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

Brad�s father had started as an owner-operator and had grown Howell Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Brad�s mother strapped herself into a cab 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. Now the company was solely in Brad�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

His father would have told him to wait and to take his time adding on new technology. Brad 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?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Brad knew he was right in his forward thinking. How would he take Howell Trucking to the next level? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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

 

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

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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 sounded like a great scheme to him.

 

For Brad it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Brad because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Howell Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Brad stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Brad could actually expand Howell Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

Watch Our Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Salvador Reed asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Salvador smiled at him, shaking her head.�Not quite,� she said.Salvador Reed 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 Brandon. His company was called Lane Trucking, named after both of his grandfathers, Keith and Louis. They had both been hardworking men, and had done a lot to make Salvador the same.Disaster had struck half a year ago, when two trucks in Brandon�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Brandon's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Salvador 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. Salvador knew she was employed by a Factoring company and that her name was Vivian. Salvador 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.Vivian 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.Salvador agreed. It sounded good to him, almost too good.The woman 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.�Vivian smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""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,� said Vivian with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Salvador filled the form out, with Vivian available to help him if he needed it. The profile filled Vivian and her company in on Brandon�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Salvador filled out his form, Vivian was pretty sure he was a perfect candidate for factoring.When the form was done Vivian took it and slid it into her briefcase. Standing up, she reached over the desk and shook Brandon's hand. He stood before they shook as well, and then smiled. Salvador walked Vivian to the door where they said 'Goodbye', then he went back into 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 shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Vivian 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Salvador couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Lane Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Salvador opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.

 

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More Trucking Factoring Company Story Articles

The reason why Truck Corporations Employ Factoring Companies.

 

As the owner of your own business enterprise, you may well be more than wary already of the challenge in making sure that capital concerns do not become a difficulty down the line. After all, the most disappointing thing that can possibly happen for your establishment is to find yourself embroiled in a long and challenging condition that leaves you forever searching for the money you are in need of on an continuing basis.

 

For pretty much any establishment in this condition, the complication can come for waiting for work to clear up and actually be brought in into your account. Statements, checks, and the like can take a while to actually to beprocessed which may leave you with short-term cash flow troubles. Luckily, there are options out there for industries to investigate-- and one of these is factoring firms.

 

Factoring companies will, in substitution for your statements, give you with the resources immediately in order that you do not have to fret about the waiting duration which could make paying the bills and purchasing materialsmore challenging. With this style of setup, invoice factoring can come to be remarkably helpful for a lot of establishments who have to get out of a money trap which they have discovered themselves in.

 

Due to the fact that, basing on the scale of the project, it can take up to 60 days for many companies to get paid out then it is crucial to cover your own back and definitely not leave yourself money short to pay off the monthly bills. After all, how many businesses possess two months earnings just lying there to cover all their expenditures until they make money?

 

This is especially true of truck enterprises. They tend to manage numbers of invoices which means a significant volume of collection time concerns company owner themselves. Trying to get paid out promptly can eventually become an incredible trouble and this is the key reasons why you work with truck factoring organizations who are thrilled to help out truckers exclusively.

 

As most of us determine, trucking is an remarkably massive field with lots of firms out there hiring hundreds of operators. Regrettably, numerous of these drivers land up in finances troubles considering that they are still expecting work from six weeks ago to actually compensate them. When this is the condition for a trucking company, choosing factoring firms for solutions could be the best choice left.

 

This implies that a trucking business can pay out the wages of the crew, keep all the vehicles filled with gas and continue to escalate, thrive and expand without continually waiting for the income which is taking too lengthy to come in. Trucking Establishments running without a factoring program put in place are leaving themselves at critical threat, as contenders cash out rapidly and continue to grow.

 

There's genuinely almost nothing to be worried about when it comes to making use of a Factoring business-- they typically are not like a banking company or somebody who is going to leave you with a large heap of personal debt to repay. You give them authentic invoices from job you have already finalized , you are only speeding up the repayment system.

 

In the United states of America, where trucking enterprises succeed, factoring enterprises are not considered accepting loan of in any capacity. This private arrangement then makes it possible for both parties to benefit and indulge in a comfortable future-- it provides the factoring business a warranted resource of earnings to add to the list and it gives the trucking company the required finances that they worked hard to get.

 

The trucking business bestows their accounts to the factoring firm. The trucking factoring business then take the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been utilized for many years by several diverse markets-- but none more so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it means that you are receiving the money today and can actually start off setting the funds to do work.

 

Once and for all, an IOU or an invoice is not going to finance bills, is it? For trucking companies when the cash can be really good one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a considerable volume of time and finance to get through the week up until they are paid once again.

 

So the next occasion your trucking establishment is having some temporary cash flow challenges and you are putting in way too much time chasing sluggish paying clienteles, why not start off looking into utilizing a factoring companies as a manner to get your finances and give yourself a more pleasant future in the eyes of your trucking personnel and your bank dividend?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. 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. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies 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. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. 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. 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 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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.

 

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Columbus

 

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Philadelphia

 

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