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What Your Banker Doesn't Want You to Know -
Our Truck Factoring Company
Can Provide
Your Trucking Company
The Cash You Need

Houston Factoring Companies

and Houston-Factoring-Companies.factoringaccountsreceivables.org.

factoring freight brokers only

truck factoring definition

factoring for trucking companies

trucking invoice factoring companies

http://accountreceivablecollection.org

They Grinned When the Banker Spoke to Me in French - Select 

A Freight�Invoice Factoring Company  Instead Of A Typical Bank Funding

How to Increase Cash Flow Without Loaning -Cash Money flow is one of the primary reasons businesses fail.

 

 

 

You may well have become aware of factoring loans but most people may well mistake exactly what it is or more significantly what it can do for your business. Truck Factoring likewise known as receivables finance is a kind of asset based lending that can enhance a company's short-term cash flow. It is not a loan; no debt is taken on by factoring ,and the financing is unrestricted. Account Receivable Financing Companies in Loans Payable Houston Factoring Companies at FactoringFinancialServices.org- affording sell invoice deals houston-factoring-companies

FactoringFinancialServices.org-Houston Factoring Companies

 

Account Receivable Financing Companies

This is primarily correct of trucking firms. They usually take care of good deals of accounts which means a significant amount of collection period entails company owner themselves. Striving to get paid promptly can eventually become an extraordinary trouble and this is the reason why you employ trucking factoring providers who are thrilled to help out truckers mainly.

 

 

Factormoney.Com

Factoring Invoices Companies

For any kind of business in this position, the problem can come for waiting for work to clear up and actually be paid out into your statement. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with temporary capital problems. Luckily, there are alternatives out there for companies to investigate-- and just one of these is factoring agencies.

 

 



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The fourth largest city in the nation and the largest in the entire South and Southwest, Houston is a port of entry; a great industrial, commercial, and financial hub; one of the world's major oil centers; and the second busiest tonnage-handling port in the United States (after New York). Houston has numerous space and science research firms; electronics plants; giant oil refineries; high-tech and computer-technology industries; one of the world's greatest concentrations of petrochemical works; steel and paper mills; shipyards; breweries; meatpacking houses; and factories manufacturing oil-drilling equipment, clothing, glass, and seismic instruments. More recently, Houston has become a major center of finance with a large number of banks, many of them foreign. The Medical Center is the world's largest hospital complex and a leading medical research facility. Houston is served by two international airports and Ellington Field, a joint use civil and military airport. Cruise ships began sailing from the port in 1997. Because of its proximity to the Gulf of Mexico, the city is subject to hurricanes.

 

 

Trucking And Factoring

This is primarily correct of trucking firms. They usually take care of good deals of accounts which means a significant amount of collection period entails company owner themselves. Striving to get paid promptly can eventually become an extraordinary trouble and this is the reason why you employ trucking factoring providers who are thrilled to help out truckers mainly.

 

 



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Accounts Receivable Factoring Companies

 

Accounts Receivable Factoring Companies

 

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

Cash flow does not have to be an issue any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier rather than waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial backbone of numerous of America's most effective companies. Why is this paradoxical ? Since factoring facility is not taught in business colleges, is seldom discussed in business strategies and is fairly unknown to bulk of most of American business individuals.

Yet it is a financial procedure that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Receivable Loan Funding has been around for countless years. FACTORING Businesses are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest definition of the word, these big customer finance business are really simply large Receivable Funding Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not pay until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges range from two to four percent of the sale). The Benefits Commercial 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 currently been delivered, a business can factor (sell) its receivables for money at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be satisfied with instant  money.

Commercial Factoring offers the ways for a producer to renew inventory and make even more items to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for producers: Practically any type business can benefit from FACTORING. Generally, 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 exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can offer that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and simple procedure. The factor buys the invoice at a price cut, typically a few portion points less than the stated value of the invoice.

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Houston Factoring Companies

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The United states Transportation Organization
mentions that there around
195,000 workers with truck
companies and
300,000 personal companies trucking
firms accredited to
operate in the States that carried,
according to their latest listings of millions of
products, materials and
standard products .
There are numerous typical
carriers either going solo or in
groups on our country
roads transporting these
crucial products to our
shops, manufacturing facilities and ports.

Moreover  freight bill factoring
businesses service
countless of them and offer their
factoring loan services
countrywide counting
including the following states.


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

Houston Factoring Companies

 

View Our Factoring YouTube Video For More Information

 

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

Click below to find Trucking Companies in the United States:

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

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

 

Click below to find Trucking Companies in the United States:

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

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.

 

 

 

Watch Our Trucking Factoring Companies Videos For More Information

 

 

http://FACTORCOMPANIES.ORG

 

 

Factoring Companies Reviews at Factorcompanies.Org

 

 

 

The Secrets of Making People Like You Get

 

"

�So It is not a loan?� asked Ronald Sullivan, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Ronald was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Ralph. He named his business White Trucking, named after Adam and Brandon, his two grandfathers. Both of these men had been very hardworking and had set a great example for Ralph.Six months ago disaster struck Ralph's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Ralph's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Ronald 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. Ronald knew she was employed by a Factoring company and that her name was Claudia. Ronald 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.She sat there now, and explained. �it is really not a loan at all: we actually buy 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.Ronald nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Claudia nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Claudia with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ronald filled the form out, with Claudia available to help him if he needed it. The completed profile gave Claudia and her company all the information they needed on Ralph's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Ronald filled out his form, Claudia was pretty sure he was a perfect candidate for factoring.Claudia took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Ralph�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Ronald 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 shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Claudia 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.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. 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. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start White 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 did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Ronald 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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Factoring Companies Reviews at Factorcompanies.Org

 

 

 

Freight Broker Factoring

 

"

Robertson 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 heady times from 2002 to 2007, Robertson was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Robertson 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, Micheal Scott, CEO of Robertson 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? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Robertson money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Robertson hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Micheal Scott to have some very restless nights. 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. In the evenings he would discuss his concerns with his wife, Joanne, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Micheal would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them 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,"" Micheal said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Joanne 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'.""Micheal knew very well that Joanne 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 Micheal walked into his office with a spring in his step, determined to call each and every client who owed money to Robertson Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Micheal knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Micheal knew that he was in trouble.

 

Poor Micheal 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 Micheal?"" she queried, standing in the doorway.

 

""Of course Sherry, please come in."" Micheal leaned back in his chair and looked expectantly at Sherryerely.""Well Micheal, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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?"" Sherryerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

http://jklfunding.com/

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Micheal interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Micheal replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Micheal was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Sherry,"" he said.""Now, now, I know, I thought the same thing. But think about it, Micheal: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Micheal,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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 Micheal.Micheal took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Micheal took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Robertson. Micheal wasn't prepared to lose these relationships just because they were having financial issues at the moment. Micheal knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Sherry, thank you."" Sherry nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Micheal keep the shirt on his back, and possibly hers too.Micheal sat behind his desk and looked over the details Sherry had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Robertson Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Micheal was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Micheal was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Willie the good news,"" Micheal muttered to himself.Micheal's son-in-law, Willie, loved the idea behind Robertson and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Micheal knew the struggles Willie would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Robertson was hurting, a little guy like Willie was about to catch his death. But, an antidote may have been found in freight factoring and Micheal 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 Micheal 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. Micheal recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

 

 

 

 

More The Secrets of Making People Like You Get-Articles

 

 

Factoring Companies Reviews at Factorcompanies.Org

 

 

 

Trucking Factoring Company

 

The key reasons why Truck Companies Utilize Factoring Firms.

 

As the operator of your own business, you may well be more than knowledgeable already of the difficulty in making sure that capital concerns do not become a dilemma down the line. Anyway, the most unfortunate thing that can quite possibly happen for your enterprise is to find yourself dragged in a long and challenging predicament that leaves you forever searching for the money you are in need of on an recurring manner.

 

For just about any business in this instance, the trouble can come for waiting for work to clear up and actually be paid into your statement. Bill of sales, checks, and the like could take some time to actually to beprocessed which can certainly leave you with temporary cash flow dilemmas. Thank goodness, there are options out there for businesses to investigate-- and just one of these is factoring providers.

 

Factoring agencies will, in trade for your bill of sales, offer you with the finances right away so that you do not need to stress over the delaying phase which could make paying off the expenses and obtaining toolsmore hard. With this kind of system, invoice factoring can end up being remarkably beneficial for a lot of enterprises who ought to get out of a money lure which they have gotten themselves in.

 

For the reason that, depending on the size of the project, it can take up to 60 days for some enterprises to get paid then it is very important to blanket your own back and certainly not leave yourself money short to settle the bills. After all, how many businesses have two months revenue just occupying there to deal with all their spendings till they get paid?

 

This is particularly true of trucking establishments. They often deal with great deals of statements which means a huge volume of collection period involves business owner themselves. Seeking to get compensated promptly can develop into an incredible headache and this is why you use truck factoring firms who are happy to help out truckers primarily.

 

As most of us determine, trucking is an exceptionally big business with a lot of agencies out there handling hundreds of drivers. However, many of these drivers wind up in income predicaments considering that they are still anticipating work from six weeks previously to actually pay them. When this is the case for a trucking organization, consulting factoring agencies for solutions could be the very best alternative left.

 

This indicates that a truck firm can provide the salaries of the crew, keep all the vehicles filled with gas and continue to scale, grow and expand without always waiting for the resources which is taking too lengthy to come in. Trucking Businesses working without a factoring system put in place are leaving themselves at substantial danger, as competitors cash out promptly and carry on to grow.

 

There's genuinely nothing at all to be distressed about when it comes to making use of a Factoring firm-- they are not like a banking company or an individual who is going to leave you with a substantial stack of liability to pay back. You give them genuine invoices from work you have already finished , you are only just quickening the payment process.

 

In the Usa, where truck companies grow, factoring companies are not considered borrowing in any capacity. This confidential agreement then lets both groups to profit and indulge in a good future-- it provides the factoring agency a secured asset of income to put into the list and it provides the trucking firm the needed cash that they worked hard to earn.

 

The trucking establishment presents their accounts to the factoring business. The trucking factoring provider then receive the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for long times by lots of diverse sectors-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you partner with, it means that you are acquiring the funds today and can actually start off setting the funds to operate.

 

Anyway, an IOU or an invoice is not going to fund spendings, is it? For trucking establishments when the finances can be really good one day and gone the next, it is up to the vehicle drivers to work sensibly and to guarantee they are leaving themselves with a substantial volume of time and money to get through the week up until they are compensated again.

 

So the next period your trucking establishment is having some momentary capital dilemmas and you are shelling out excessive time chasing slow paying clients, why not start off thinking of making use of a factoring companies as a method to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

 

More Trucking Factoring Company -Articles

 

 

 

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Factoring Companies Reviews at Factorcompanies.Org

 

 

 

Transportation Invoice Factoring

 

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Jamie Kim just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Jamie is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Kim 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.

 

More than forty years ago Jamie's father had started this business working as an owner-operator and eventually growing Kim Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Jamie�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Jamie�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jamie allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

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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.

 

Jamie 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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 was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Jamie 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 think poorly of Kim Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Jamie stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Kim Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

 

 

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Factoring Companies Reviews at Factorcompanies.Org

 

Freight Forwarding Factoring

 

Date Published- 2014- 02-24 Factoring Trucking Receivables

 

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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. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Factoring Accounts ReceivableORG-Sitemap

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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 efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

http://fredcoutts.com/

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

"
Factoring Companies Reviews at Factorcompanies.Org

 

 

 

 

 

More Transportation Invoice Factoring -Articles

 

 

 

"

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. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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 efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

"

 

 

 

 

 

 

 

 

Factoring Companies by City

 



New York City

Los Angeles

Chicago

Houston

Philadelphia

Phoenix

San Antonio

San Diego

Dallas

San Jose

Austin

Jacksonville

Indianapolis

San Francisco

Columbus

Fort Worth

Charlotte

Detroit

El Paso

Memphis

Boston

Seattle

Denver

Washington DC

Nashville Davidson

Baltimore

Louisville Jefferson

Portland

Oklahoma City

Milwaukee

Las Vegas

Albuquerque

Tucson

Fresno

Sacramento

Long Beach

Kansas City

Mesa

Virginia Beach

Atlanta

Colorado Springs

Raleigh

Omaha

Miami

Oakland

Tulsa

Minneapolis

Cleveland

Wichita

Arlington

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo

Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham