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Cash Flow Satisfaction- or Else! - Our Freight Invoice Factoring Companies Can Give
Your Trucking Company The Money Your Company Needs

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Factoring invoices is beneficial for a number of factors. It permits a truck firm to raise cash without acquiring new debt. While financial obligation is in some cases essential, the majority of trucking firms would prefer to raise money without obtaining cash. Debt is risky, and when it cannot be repaid, assets can be repossessed. If the debt is large enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

Will You Help me Get Money? - Pick A Truck�Factoring Company  Instead Of A Regular Bank Financing

Exactly how to Enhance Money Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Money flow does not have to be an issue any ever 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 money. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling accounts receivable to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary foundation of many of America's most successful businesses. Why is this ironic ? Since trucking factoring is not instructed in business colleges, is rarely discussed in company plans and is fairly unidentified to the majority of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of businesses to grow and succeed. Invoice Factoring has actually been around for thousands of years. Invoice Factoring Companies are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest meaning of the word, these large consumer finance business are truly just large Truck Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, even though you do not make payment up until you are prepared.

For this service, the charge card business charges Sears a charge (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Accounts Receivable Factoring can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been provided, a company can factor (sell) its receivables for cash at a little price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be met with instant  cash.

Receivable Funding provides the ways for a producer to replenish stock and make even more items to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for producers: Practically any kind company can take advantage of Accounts Receivable Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, but you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a quick 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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The United states Transportation Organization
states that there around
205,000 work with freight trucking
firms and
250,000 personal providers trucking
firms accredited to
operate in the States that carried,
according to their newest data of millions
products, materials and
fundamental materials .
There are several typical
providers either going solo or in
groups on our nation
highways carrying these
important products to our
shops, factories and ports.

Moreover freight invoice factoring
firms aid
countless of them and offer their
receivables financing facilities
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

 

Fort Wayne is a city in the U.S. state of Indiana and the county seat of Allen County. The population was 256,496 as of the 2013 Census estimate making it the 76th largest city in the United States and the second largest in Indiana after Indianapolis. The municipality is located in northeastern Indiana, approximately 18 miles (29 km) west of the Ohio border and 50 miles (80 km) south of the Michigan border. Fort Wayne is the principal city of the Fort Wayne metropolitan area, consisting of Allen, Wells, and Whitley counties, for an estimated population of 419,453. In addition to those three core counties, the combined statistical area includes Adams, DeKalb, Huntington, Noble, and Steuben counties, for a population of about 615,077.Under the direction of American Revolutionary War statesman Anthony Wayne, the United States Army built Fort Wayne last in a series of forts near the Miami tribe village of Kekionga in 1794. Named in Wayne's honor, the settlement established itself at the couence of the St. Joseph River, St. Marys River, and Maumee River as a trading post for European pioneers. The village was platted in 1823 and experienced tremendous growth after completion of the Wabash and Erie Canal and advent of the railroad. Once a booming manufacturing town located in the Rust Belt, Fort Wayne's economy has diversified to include distribution, transportation, and logistics, health care, professional and business services, leisure and hospitality, and financial services. The city is also a center for the defense industry which employs thousands in the city.As northeastern Indiana's cultural hub, Fort Wayne is home to 15 museums and art galleries, two daily newspapers, philharmonic orchestra, botanical conservatory, zoo, convention center, three minor league sports franchises and an Division I member school, and 86 public parks. The city is home to the fifth-largest public university in Indiana, Indiana University � Purdue University Fort Wayne (IPFW), and the private universities of Concordia Theological Seminary, Indiana Institute of Technology, and University of Saint Francis. The city is also recognized as the final resting place of American folklore legend Johnny Appleseed.The city has been an All-America City Award recipient in 1982, 1998, and 2009 and received an Outstanding Achievement City Livability Award by the U.S. Conference of Mayors in 1999.Manufacturing is deeply rooted in Fort Wayne's economic history, dating to the earliest days of the city's growth as an important trade stop along the Wabash and Erie Canal. Railroads, introduced shortly after the canal's arrival, eased travel from Fort Wayne to other booming industrial centers along the Great Lakes, such as Chicago, Detroit, Toledo, and Cleveland. Throughout the early and mid-20th century, manufacturing dominated the city's economic landscape. From 1900 to 1930, Fort Wayne's industrial output expanded by 747 percent, with total production valued at $95 million in 1929, up from $11 million in 1899. The total workforce also increased from 18,000 in 1900 to nearly 50,000 in 1930. among several others, producing such items as refrigerators, washing machines, automatic phonographs, meat-packing products, televisions, garbage disposals, automotive parts and motors, trailers, gasoline pumps, trucks, beer, tents and awnings. Magnet wire production became an especially vital component to the city's economy. In 1960, Fort Wayne was at the center of the United States magnet wire industry, home to , producing nearly 90 percent of North America's magnet wire.The 1970s and 1980s were times of economic depression in Fort Wayne. As much of the city's manufacturing foundation eroded and the blue-collar workforce shrank, Fort Wayne joined several other cities reeling economically within the Rust Belt. The biggest blow to the city's economy came September 27, 1982 when International Harvester announced it would close its Fort Wayne assembly plant, which had employed 10,600 at its peak. General Electric also downsized much of its more than 10,000-person workforce at this time; GE announced that operations at the Fort Wayne plant would officially end in 2015. Amid other area plant closures and downsizing, coupled with the early 1980s recession, the city lost 30,000 jobs and had reached a 12.1 percent unemployment rate. arrival to Allen County in 1987 helped fill the void left by shuttered manufacturers and aided in the area's recovery, employing 3,000 at its Fort Wayne Assembly.Through the 1990s and into the 2000s, the city diversified its economy; manufacturing now employs 16.9 percent of Allen County's workforce. Other important sectors include distribution, transportation, and logistics (23.1 percent), health care (17.9 percent), professional and business services (12.1 percent), leisure and hospitality (11.1 percent), and financial services (6.3 percent). The leisure and hospitality sector has especially grown, with 5.7 million visitors spending more than $466 million in Fort Wayne in 2009. The city is also a center for the defense industry, employing thousands at such companies as BAE Systems (1,150), ITT Exelis (1,165), Raytheon Systems (950), and the Fort Wayne Air National Guard Station (423). In 2012, the county's workforce was 174,207 with an unemployment rate of 8.3 percent. Abraham Lincoln: The Hoosier Youth has stood in front of Lincoln Financial Group's downtown offices since 1932.headquartered in the city, ranking 354th.According to Greater Fort Wayne Inc., as of May 2014, the ten largest employers in the county were

 

 

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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):
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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

 

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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.

 

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

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

 

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

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

 

 

"

Kennedy Truck and Haul has been in 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 Kennedy 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

 

. And worse yet, Kennedy 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 Kennedy, Ricky Berry, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. 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. 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 Ricky Berry. 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. After work he would confide in his wife, Rhonda, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Ricky 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 think I know what it could be,"" Ricky 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."" All Rhonda 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'.""Ricky knew very well that Rhonda 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 Ricky walked into his office with a spring in his step, determined to call each and every client who owed money to Kennedy Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ricky 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. A waste of time - a waste of money - he had the best intentions, but all the while Ricky was realising just how much trouble he was in.Poor Ricky 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 Ricky?"" she asked standing in the doorway.

 

""Sure thing Maureen, come on in."" Ricky leaned back in his chair and looked expectantly at Maureenerely.""Well Ricky, 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?"" Maureenerley asked.""It does sound vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Ricky interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Ricky said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Ricky studied the documents very closely.""I do not know, Maureen - it just sounds too good to be true"", Ricky said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Ricky: 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. They appear to be very flexible, Ricky,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Ricky.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Ricky.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Ricky thought about this and agreed with Maureenerley. The customers who were in debt to Kennedy Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Ricky was very concerned about losing these relationships. Ricky knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all 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 Maureen, thank you."" Maureen nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Ricky keep the shirt on his back, and possibly hers too.Ricky sat behind his desk and looked over the details Maureen had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Kennedy Truck & Haul 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, Kennedy could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Franklin about this,"" muttered Ricky to himself.Franklin is Ricky's son-in-law, and he really admired the ideas behind Kennedy, so much so that only two years before he had started his own transportation service business. At that time Ricky knew the struggles Franklin would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Kennedy was struggling then the little guys, like Franklin, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Ricky was soon to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Ricky found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Ricky 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.

 

"

 

Fort Wayne is a city in the U.S. state of Indiana and the county seat of Allen County. The population was 256,496 as of the 2013 Census estimate making it the 76th largest city in the United States and the second largest in Indiana after Indianapolis. The municipality is located in northeastern Indiana, approximately 18 miles (29 km) west of the Ohio border and 50 miles (80 km) south of the Michigan border. Fort Wayne is the principal city of the Fort Wayne metropolitan area, consisting of Allen, Wells, and Whitley counties, for an estimated population of 419,453. In addition to those three core counties, the combined statistical area includes Adams, DeKalb, Huntington, Noble, and Steuben counties, for a population of about 615,077.Under the direction of American Revolutionary War statesman Anthony Wayne, the United States Army built Fort Wayne last in a series of forts near the Miami tribe village of Kekionga in 1794. Named in Wayne's honor, the settlement established itself at the couence of the St. Joseph River, St. Marys River, and Maumee River as a trading post for European pioneers. The village was platted in 1823 and experienced tremendous growth after completion of the Wabash and Erie Canal and advent of the railroad. Once a booming manufacturing town located in the Rust Belt, Fort Wayne's economy has diversified to include distribution, transportation, and logistics, health care, professional and business services, leisure and hospitality, and financial services. The city is also a center for the defense industry which employs thousands in the city.As northeastern Indiana's cultural hub, Fort Wayne is home to 15 museums and art galleries, two daily newspapers, philharmonic orchestra, botanical conservatory, zoo, convention center, three minor league sports franchises and an Division I member school, and 86 public parks. The city is home to the fifth-largest public university in Indiana, Indiana University � Purdue University Fort Wayne (IPFW), and the private universities of Concordia Theological Seminary, Indiana Institute of Technology, and University of Saint Francis. The city is also recognized as the final resting place of American folklore legend Johnny Appleseed.The city has been an All-America City Award recipient in 1982, 1998, and 2009 and received an Outstanding Achievement City Livability Award by the U.S. Conference of Mayors in 1999.Manufacturing is deeply rooted in Fort Wayne's economic history, dating to the earliest days of the city's growth as an important trade stop along the Wabash and Erie Canal. Railroads, introduced shortly after the canal's arrival, eased travel from Fort Wayne to other booming industrial centers along the Great Lakes, such as Chicago, Detroit, Toledo, and Cleveland. Throughout the early and mid-20th century, manufacturing dominated the city's economic landscape. From 1900 to 1930, Fort Wayne's industrial output expanded by 747 percent, with total production valued at $95 million in 1929, up from $11 million in 1899. The total workforce also increased from 18,000 in 1900 to nearly 50,000 in 1930. among several others, producing such items as refrigerators, washing machines, automatic phonographs, meat-packing products, televisions, garbage disposals, automotive parts and motors, trailers, gasoline pumps, trucks, beer, tents and awnings. Magnet wire production became an especially vital component to the city's economy. In 1960, Fort Wayne was at the center of the United States magnet wire industry, home to , producing nearly 90 percent of North America's magnet wire.The 1970s and 1980s were times of economic depression in Fort Wayne. As much of the city's manufacturing foundation eroded and the blue-collar workforce shrank, Fort Wayne joined several other cities reeling economically within the Rust Belt. The biggest blow to the city's economy came September 27, 1982 when International Harvester announced it would close its Fort Wayne assembly plant, which had employed 10,600 at its peak. General Electric also downsized much of its more than 10,000-person workforce at this time; GE announced that operations at the Fort Wayne plant would officially end in 2015. Amid other area plant closures and downsizing, coupled with the early 1980s recession, the city lost 30,000 jobs and had reached a 12.1 percent unemployment rate. arrival to Allen County in 1987 helped fill the void left by shuttered manufacturers and aided in the area's recovery, employing 3,000 at its Fort Wayne Assembly.Through the 1990s and into the 2000s, the city diversified its economy; manufacturing now employs 16.9 percent of Allen County's workforce. Other important sectors include distribution, transportation, and logistics (23.1 percent), health care (17.9 percent), professional and business services (12.1 percent), leisure and hospitality (11.1 percent), and financial services (6.3 percent). The leisure and hospitality sector has especially grown, with 5.7 million visitors spending more than $466 million in Fort Wayne in 2009. The city is also a center for the defense industry, employing thousands at such companies as BAE Systems (1,150), ITT Exelis (1,165), Raytheon Systems (950), and the Fort Wayne Air National Guard Station (423). In 2012, the county's workforce was 174,207 with an unemployment rate of 8.3 percent. Abraham Lincoln: The Hoosier Youth has stood in front of Lincoln Financial Group's downtown offices since 1932.headquartered in the city, ranking 354th.According to Greater Fort Wayne Inc., as of May 2014, the ten largest employers in the county were

 

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story Andre Bishop let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Andre is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Bishop 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.

 

Andre�s father had started as an owner-operator and had grown Bishop 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 Andre'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. Now the company was solely in Andre�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

Andre knew he was right in his forward thinking. How would he take Bishop 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? If he was being honest, he did not 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

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

 

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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. 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 more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Andre because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Bishop 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, Andre 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 Bishop Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� Herbert Gardner asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Herbert Gardner owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Jared. His company was called Smith Trucking, named after both of his grandfathers, Everett and Rafael. They had both been hardworking men, and had done a lot to make Herbert the same.Six months ago disaster struck Jared'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. Herbert depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Herbert was an excellent business man, and he certainly hadn't done anything wrong. 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.And that's why he found himself across the desk from this woman. Her name was Delores and she worked for a factoring company. Herbert 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.Delores 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.Herbert agreed. It sounded perfect - perhaps too good?.Delores laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Delores nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Delores with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Herbert completed the form, with Delores offering advice as needed.

 

The completed profile gave Delores and her company all the information they needed on Jared'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. As Herbert completed his form, Delores listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Delores took it and slid it into her briefcase. Standing up, she reached over the desk and shook Jared's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Herbert 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 Delores 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 terrifying panic attacks that occurred regardless of 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 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 successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Smith 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.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 he couldn�t give up. 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. Herbert opened his eyes, sat forward, turned his computer on. He had lots 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 key reasons why Truck Agencies Utilize Factoring Firms.

 

As the manager of your own firm, you may likely be more than mindful already of the challenge in making certain that cash flow matters do not become a dilemma down the line. After all, the most unfortunate thing that can quite possibly take place for your company is to find yourself swept up in a long and difficult situation that leaves you forever searching for the cash you really need on an ongoing basis.

 

For pretty much any business enterprise in this circumstance, the complication can come for waiting for work to lapse and actually be brought in into your balance. Invoices, checks, and the like could take a while to actually to beprocessed which can certainly leave you with short-term available resources difficulties. Luckily, there are opportunities out there for establishments to consider-- and among these is factoring firms.

 

Factoring firms will, in substitution for your bill of sales, provide you with the resources asap to ensure that you do not have to fret about the waiting period that could make paying the bills and getting materialsmore troublesome. With this type of arrangement, invoice factoring can become exceptionally useful for various firms who ought to get out of a cash lure which they have gotten themselves in.

 

Considering that, depending upon the volume of the task, it can take up to 60 days for many enterprises to get compensated then it is important to take care of your own back and definitely not leave yourself cash short to settle the bills. After all, how many establishments possess two months revenue just lying there to handle all their overheads till they get paid?

 

This is particularly true of truck establishments. They tend to deal with numbers of statements which means a huge volume of collection period demands company owner themselves. Attempting to get paid in time can develop into an amazing headache and this is the key reasons why you work with truck factoring companies who are glad to help out truckers mainly.

 

As most of us understand, trucking is an astonishingly huge business with plenty of firms out there working with hundreds of drivers. However, plenty of these drivers end up in finances difficulties for the reason that they are still waiting for work from six weeks back to actually compensate them. When this is the situation for a trucking firm, depending on factoring companies for aid may be the most effective option left.

 

This indicates that a trucking corporation can compensate the salaries of the staff, keep all the cars topped off with gas and continue to scale, grow and expand without constantly waiting for the funds which is taking too lengthy to come in. Trucking Enterprises functioning without a factoring program established are leaving themselves at substantial danger, as competitions cash out rapidly and carry on to broaden.

 

There's genuinely almost nothing to be distressed about when it comes to using a Factoring company-- they typically are not like a banking company or a person who is going to leave you with a big mass of financial debt to repay. You give them legitimate invoices from output you have already completed , you are simply expediting the payment process.

 

In the United States, where trucking enterprises do well, factoring companies are not considered taking on loan in any capacity. This private arrangement then allows both parties to benefit and take pleasure in a comfortable future-- it gives the factoring firm a guaranteed resource of cash flow to put into the list and it supplies the trucking company the needed finances that they sweated to gain.

 

The trucking enterprise presents their statements to the factoring firm. The trucking factoring company then take the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been employed for several years by lots of different fields-- but none exceeding so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending on who you deal with, it indicates that you are getting the cash today and can actually start putting the resources to perform.

 

Anyway, an IOU or an invoice is certainly not going to finance expenditures, is it? For trucking agencies when the hard earned cash can be very good one day and gone the next, it is up to the drivers to work prudently and to ascertain they are leaving themselves with a substantial quantity of time and finance to get through the week till they are paid again.

 

So the next occasion your trucking company is having some momentary cash flow problems and you are devoting a bit too much time chasing slowly paying clients, why not start looking into employing a factoring businesses as a manner to get your finances and give yourself a more convenient future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. 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.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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. 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.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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