Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Here Is a Quick way to Shore Up Your Cash Flow -
Our Factoring Companies Reviews
Can Give
Your Truck Company
The Money You Want

 

and Factoring-Companies-Reviews.receivableloan.org.

factoring trucking industry

freight bill factoring companies

freight factoring reviews

factoring services for trucking companies

Truck Factoring is helpful for numerous reasons. It allows a truck company to raise money without getting brand-new debt. While debt is in some cases needed, most truck companies would choose to raise cash without borrowing money. Debt is dangerous, and when it cannot be repaid, assets can be repossessed. If the financial obligation is huge enough, it could even force a freight broker firm out of business.

Do Your Receivables Turn as Quickly as You Would Like - Choose 

A Receivable Loan C0mpany Instead Of A Regular Bank Funding

How to Enhance Money Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow. Exactly what is trucking factoring ? One solution is called factoring companies reviews. Truck Factoring is the process of offering accounts receivable to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary backbone of numerous of America's most effective companies. Why is this paradoxical ? Because trucking factoring is not taught in business colleges, is seldom mentioned in company strategies and is fairly unidentified to bulk of most of American business people.

Yet it is a monetary procedure that releases up billions of dollars every year, enabling thousands of companies to grow and succeed. Receivable Financing has actually been around for countless years. Trucking 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 financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance business are really just large Receivable Loan Financing Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not make payment until you are ready.

For this service, the credit card business charges Sears a charge (typical common normal charges range from two to 4 percent of the sale). The Advantages Receivable Loan Funding can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has already been provided, a company can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company requirements that can be met with instant  money.

Factoring Companies Reviews provides the ways for a producer to replenish stock and make more products to sell: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not just a money management tool for manufacturers: Almost any type company can take advantage of Receivable Financing. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a quick and easy process. The factor buys the invoice at a discount, usually a few portion points less than the stated value of the invoice.

 

 

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

E-mail Us


or complete the
OnLine


Trucking Factoring Request Kind

 

The United states Transportation Organization
states that there are about
195,000 work with truck
businesses and
250,000 personal service providers trucking
firms certified to
run in the States that transferred,
according to their most current listings of millions of
products, materials and
standard materials .
There are several usual
carriers either going solo or in
groups on our nation
roadways transporting these
crucial products to our
stores, manufacturing facilities and shipping ports.

Moreoverfreight factoring
firms help
many of them and offer their
receivable loan facilities
nationwide comprising
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

factoring-companies-reviews

 

View Our Freight Factoring YouTube Videos For More Information

 

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

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

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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

 

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

 

 

"

Webb Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Webb Truck & Haul was the mastermind of a top-rated accounts receivable in 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.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 Webb 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, Alfred Jensen, CEO of Webb felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had already been to the administrators to ask what the actual problem was. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Alfred Jensen. Alfred 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 Ethel 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.Alfred would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I know what it is,"" said Alfred. ""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."" Ethel would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Alfred knew very well that Ethel 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 Alfred walked into his office with a spring in his step, determined to call each and every client who owed money to Webb Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Alfred 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Alfred knew that he was in trouble.

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Vanessaerley knocked at his door.

 

""Alfred, can I have a word?"" she asked standing in the doorway.

 

""Of course Vanessa, please come in."" Alfred leaned back in his chair and looked expectantly at Vanessaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Alfred."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Alfred interrupted ""Immediately?"".""Immediately, yes"" she added, ""It's 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,� Alfred said. �And then what?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Leaning forward, Alfred studied the documents very closely.""It sounds too good to be true, Vanessa,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Alfred,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Alfred.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. """"That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Alfred.Alfred took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Alfred thought about this and agreed with Vanessaerley. The clients who owed them money were long standing friends and professional resources of Webb. They didn't want to throw away these relationships because they were having trouble paying their bills now. Alfred 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 could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Vanessa, thank you."" Vanessa nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Alfred sat behind his desk and looked over the details Vanessa had not mentioned in their meeting. What other issues could freight factoring help Webb with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Webb could receive up to fifty-percent cash advances upon load pick-ups. Alfred was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't 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 Jose about this,"" Alfred muttered to himself.Jose is Alfred's son-in-law, and he really admired the ideas behind Webb, so much so that only two years before he had started his own transportation service business. At that time Alfred knew the struggles Jose would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Webb was struggling then the little guys, like Jose, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Alfred was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Alfred was beginning to find his way out of the hole his debtors had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Alfred looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

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

 

Darryl�s father had started as an owner-operator and had grown Reid 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 Darryl�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Darryl�s hands and he wanted to live to see it in better shape for his sons.

 

To move Reid 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 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. Every time he had to turn down a request, Reid Trucking looked weak in a very strong market.

 

His father would have told him to wait and to take his time adding on new technology. Darryl 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Darryl believed a successful man is always thinking of his next step. What would be the next step for Reid Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

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

 

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

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he wouldn't 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.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Darryl because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn't have any problems, nor would they think poorly of Reid 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.

 

Darryl stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Darryl could actually expand Reid Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

Watch Our Factoring Videos For More Information

 

 

 

 

 

 

 

 

 

Trucking Factoring  Articles

�So It is not a loan?� asked Armando Harrison, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Armando was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Sean. His company was called Stone Trucking, named after both of his grandfathers, Miguel and Jay. They had both been hardworking men, and had done a lot to make Armando the same.Disaster had struck half a year ago, when two trucks in Sean�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. Armando depended on his full fleet, and missing two trucks was devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Armando was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he couldn't possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Armando knew she was employed by a Factoring company and that her name was Diane. Armando 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.Diane explained. �It�s not a loan, we purchase your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. This is a win-win situation: we're 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.Armando nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Diane nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Diane with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Armando completed the form, with Diane offering advice as needed.

 

The completed profile gave Diane and her company all the information they needed on Sean's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Armando filled out his form, Diane was pretty sure he was a perfect candidate for factoring.Diane took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Sean's hand. He stood before they shook as well, and then smiled. Armando walked Diane to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Diane and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was 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.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 successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Stone Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he wouldn't have to - all because of Factoring. Armando opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

 

 

 

More Trucking Factoring Company Story Articles

The reason why Truck Agencies Use Factoring Firms.

 

As the owner of your own company, you may perhaps be more than perceptive 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 occur for your company is to find yourself swept up in a long and troublesome condition that leaves you forever searching for the finances you really need on an continuing basis.

 

For any enterprise in this position, the trouble can come for waiting for work to lapse and actually be compensated into your bank account. Bill of sales, checks, and the like can take a while to actually to be taken care of which can certainly leave you with momentary cash flow troubles. Thank goodness, there are alternatives out there for industries to consider-- and just one of these is factoring firms.

 

Factoring companies will, in substitution for your statements, supply you with the cash money immediately to make sure that you don't have to stress over the lingering period which could make paying out the expenses and purchasing toolsmore troublesome. With this kind of setup, invoice factoring can come to be extremely beneficial for various enterprises who ought to get out of a cash trap which they have discovered themselves in.

 

Simply because, depending upon the size of the task, it can take up to 60 days for some firms to get paid out then it's necessary to cover your own back and definitely not leave yourself money short to pay off the bills. After all, how many establishments have two months earnings just lying there to deal with all their overheads till they earn?

 

This is especially true of truck agencies. They generally deal with tons of accounts which means a considerable volume of collection period entails business owner themselves. Making an effort to get paid out promptly can turn into an extraordinary struggle and this is precisely why you use truck factoring providers who are pleased to help out truckers particularly.

 

As we all realize, trucking is an unbelievably huge industry with countless companies out there utilizing hundreds of operators. Unfortunately, many of these drivers land up in income difficulties for the reason that they are still waiting for work from six weeks earlier to actually compensate them. When this is the condition for a truck company, turning to factoring agencies for assistance might be the most recommended choice left.

 

This implies that a truck organization can pay off the salaries of the crew, keep all the trucks filled with gas and continue to surmount, evolve and expand without constantly waiting for the money which is taking too long to come in. Trucking Firms working without a factoring program established are leaving themselves at considerable hazard, as rivals cash out quickly and continue to broaden.

 

There's genuinely nothing at all to be distressed about when it comes to utilizing a Factoring establishment-- they typically aren't like a banking company or an individual who is going to leave you with a considerable heap of debt to repay. You give them legitimate invoices from job you have already finished , you are only just hastening the repayment system.

 

In the United states of America, where truck agencies thrive, factoring firms are not considered getting a loan in any capacity. This confidential settlement then makes it possible for both groups to benefit and experience a good future-- it provides the factoring company a secured resource of cash flow to put into the list and it offers the trucking company the needed money that they sweated to obtain.

 

The trucking enterprise presents their accounts to the factoring agency. The trucking factoring company then obtain the payment amounts from the trucking company's customers. Factoring has beenaround for centuries and has been employed for several years by plenty of diverse business-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it implies that you are obtaining the funds today and can actually begin setting the resources to perform.

 

Anyway, an IOU or an invoice is not going to finance expenses, is it? For trucking companies when the finances can be fantastic one day and gone the next, it's up to the drivers to work prudently and to ascertain they are leaving themselves with a substantial measure of time and money to get through the week up until they are compensated again.

 

So the next moment your trucking business is bearing some short-term capital concerns and you are shelling out too much time chasing slowly paying clients, why not start off considering using a factoring businesses as a method to get your finances and give yourself a more pleasant future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

"

Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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's 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 don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. In the event that your business fails, you wouldn't 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 aren't 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. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't 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 don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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 efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

"

 

 

Accounts Receivable Buyers

 

Accounts Receivable Factor

 

Accounts Receivable Factoring

 

Accounts Receivable Factoring Companies

 

Accounts Receivable Factoring Rates

 

Accounts Receivable Financing

 

Accounts Receivable Financing Companies

 

Accounts Receivable Financing Rates

 

Accounts Receivable Lending

 

Accounts Receivable Loans

 

Best Factoring Companies

 

Best Factoring Companies For Freight Brokers

 

Best Freight Factoring Companies

 

Best Invoice Factoring Company

 

Best Rated Factoring Companies

 

Best Truck Factoring Companies

 

Best Trucking Factoring Company

 

Business Accounts Receivable Loans

 

Buy Accounts Receivable

 

Buy Receivables

 

Factoring Business

 

Factoring Companies Brokers

 

Factoring Companies For Freight Brokers

 

Factoring Companies For Small Businesses

 

Factoring Companies Reviews

 

Factoring Companies Truckers

 

Factoring Companies Used By Trucking Companies

 

Factoring Company

 

Factoring Company Rates

 

Factoring Financing

 

Factoring Loan

 

Factoring Loans

 

Factoring Receivables Companies

 

Factoring Services

 

Factoring Services For Trucking Companies

 

Factoring Small Business

 

Find The Best Factoring Companies

 

Freight Bill Factoring

 

Freight Bill Factoring Companies

 

Freight Broker Factoring Companies

 

 

 

Freight Factoring Companies

 

Freight Factoring Company

 

Freight Factoring Services

 

Freight Invoice Factoring

 

Invoice Factoring Companies

 

Invoice Factoring Rates

 

Invoice Factoring Reviews

 

Invoice Factoring Services

 

Largest Factoring Companies

 

List Of Factoring Companies

 

Medical Factoring Companies

 

Medical Staffing Factoring

 

Oilfield Services Factoring Companies

 

Oilfield Factoring Companies

 

Oilfield Services Factoring

 

Receivable Factoring

 

Receivable Factoring Companies

 

Receivable Factoring Rates

 

Receivable Loan

 

Receivables Factoring

 

Receivables Factoring Companies

 

Receivables Factoring Rates

 

Receivables Factoring With Recourse

 

Reviews The Best Factoring Company For Trucking

 

Sale Of Accounts Receivable

 

Sale Receivables

 

Sell Account Receivables

 

Sell Receivables

 

Sell Your Accounts Receivable

 

Staffing Factoring

 

Staffing Factoring Companies

 

Staffing Factoring Companies

 

Top Factoring Companies

 

Top Invoice Factoring Companies

 

Top Rated Factoring Companies

 

Transportation Factoring

 

Transportation Factoring Trucking

 

Truck Factoring Companies

 

Trucker Factoring

 

Trucking Factoring Companies