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How To Get More Profit From Your Receivables - Our Receivable Financing Company Can Provide
Your Trucking Company The Cash Your Company Needs

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Using a Truck Factoring Company is useful for several reasons. It enables a trucking business to raise cash without obtaining brand-new financial obligation. While debt is in some cases needed, most trucking firms would choose to raise cash without borrowing money. Financial obligation is risky, and when it cannot be repaid, assets can be repossessed. If the debt is big enough, it might even force a trucking companies out of business.

 

 

 

 

 

 

 

My Company has 9 New Products - Imagine - Select The Best Factoring Company Instead Of A Traditional Bank Funding

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

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

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get funding. Other options are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the process of selling invoices to a financier instead of waiting to gather the money from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the monetary foundation of many of America's most successful businesses. Why is this paradoxical ? Because staffing factoring is not taught in business colleges, is seldom discussed in business strategies and is fairly unidentified to bulk of most of American company individuals.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Receivable Financing has actually been around for countless years. Accounts Receivable Factoring Businesses are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these big consumer finance companies are truly just large Staffing Factoring Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, although you do not pay until you are ready.

For this service, the credit card business charges Sears a charge (typical common normal fees range from two to 4 percent of the sale). The Benefits Receivable Loan Funding can provide many advantages to cash-hungry business. Rather than wait 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 dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be satisfied with instant  cash.

Staffing Factoring offers the means for a manufacturer to renew inventory and make more products to offer: 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 manufacturers: Almost any kind business can benefit from Staffing Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales tied up 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 expense or this week s payroll with a client s invoice, but you can sell that invoice for the cash to meet those responsibilities. Using truck factoring companies is a quick and easy procedure. The factor purchases the invoice at a discount, usually a few portion points less than the stated value of the invoice.

 

 

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The United states Trucking Association
mentions that there around
195,000 truck drivers with truck
companies and
276,000 personal companies trucking
firms certified to
operate in the U.S. that transferred,
according to their most current searchings for billions of
items, supplies and
fundamental products .
There are several common
carriers either going solo or in
teams on our nation
roadways carrying these
important items to our
stores, manufacturingplants and ports.

Plus freight factoring
businesses support
several of them and offer their
receivable loan facilities
nationallycomprising
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

 

"

Minneapolis, the largest city in Minnesota and the seat of Hennepin County, is located in the southeast central part of the state on the Mississippi River. It is adjacent to its �twin city� of St. Paul.In 1680, Father Louis Hennepin visited the future site of Minneapolis and gave the Falls of St. Anthony their name. Lt. Zebulon Pike made a treaty with the Sioux Indians in 1805�1806, by which they ceded to the whites much land, including the Falls of St. Anthony and the site of Minneapolis. Fort Snelling was built in 1819�1820, and in 1823 the government built a lumber and flour mill. Flour milling became the major industry of early Minneapolis and made the city the milling capital of the world. The town of St. Anthony was established on the east bank of the Mississippi in 1848, and the town of Minneapolis grew up on the opposite bank of the river. The name Minneapolis is a combination of the Dakota Sioux word �minna,� for water, and the Greek word �polis,� for city. Minneapolis was incorporated as a city in 1867, and in 1872 the city of St. Anthony (chartered in 1860) was annexed to it. After the spread of the railroads in the 1870s, Minneapolis became the gateway to the Northern Great Plains.Minneapolis is a center of industry and commerce serving a large agricultural region. During the 20th century, manufacturing, food processing, milling, computers, health services, and graphic arts developed as Minneapolis's major industries. Fifteen Fortune 500 companies are headquartered in the Minneapolis�St. Paul metropolitan area. The city is the headquarters of the Ninth Federal Reserve Bank.The Twin Cities are known for their wide array of cultural attractions, and Minneapolis is home to many fine museums, including the Minneapolis Institute of Arts, the Walker Center, and the Frederick R. Weisman Art Museum at the University of Minnesota's Minneapolis campus.The Twin Cities, Minneapolis and St. Paul, hosted the 2008 Republican National ConventionThe Minneapolis�St. Paul area is the second largest economic center in the Midwest, behind Chicago. The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery. The city at one time produced farm implements..Availability of Wi-Fi, transportation solutions, medical trials, university research and development expenditures, advanced degrees held by the work force, and energy conservation are so far above the national average that in 2005, Popular Science named Minneapolis the ""Top Tech City"" in the U.S. The Twin Cities ranked the country's second best city in a 2006 Kiplinger's poll of Smart Places to Live and Minneapolis was one of the Seven Cool Cities for young professionals.The Twin Cities contribute 63.8% of the gross state product of Minnesota. The area's $199.6 billion gross metropolitan product and its per capita personal income rank thirteenth in the U.S. Recovering from the nation's recession in 2000, personal income grew 3.8% in 2005, though it was behind the national average of 5%. The city returned to peak employment during the fourth quarter of that year.The Federal Reserve Bank of Minneapolis, serves Minnesota, Montana, North and South Dakota, and parts of Wisconsin and Michigan. The smallest of the 12 regional banks in the Federal Reserve System, it operates a nationwide payments system, oversees member banks and bank holding companies, and serves as a banker for the U.S. Treasury. The Minneapolis Grain Exchange founded in 1881 is still located near the riverfront and is the only exchange for hard red spring wheat futures and options

 

"

 

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

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.

 

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

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

 

Click below to find Trucking Companies in the United States:

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

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.

 

"

Grant Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Grant Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. Worse still, it was noticed by Grant 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, Tom Banks, CEO of Grant 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? 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 Grant 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. 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 Tom Banks. 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, Michele, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Tom would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But 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 think I know what it could be,"" said Tom. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Michele was trying so hard to support her husband in these worrying times, while Tom was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Tom strolled into his office and was determined to sit down and make every phone call to every client who had owed Grant money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Tom knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Tom was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Feliciaerley knocked at his door.

 

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

 

""Of course Felicia, please come in."" Tom relaxed back into his chair and looked up at Feliciaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Tom."" 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 the word factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Tom interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Tom replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Tom studied the documents very closely.""It sounds too good to be true, Felicia,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Tom: 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 Tom,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Tom.Tom took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Tom took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Grant Truck & Haul were professional resources of the company, but they were also long-standing friends. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Felicia, and thankyou."" Felicia stood up and left Tom's office, with the nice feeling of knowing that she may just have solved a very serious problem.Tom stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Grant 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, Grant could receive up to fifty-percent cash advances upon load pick-ups. Tom 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 Jorge the good news,"" Tom muttered to himself.Tom's son-in-law, Jorge, loved the idea behind Grant 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 Tom knew the struggles Jorge would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Grant was struggling then the little guys, like Jorge, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Tom was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Tom looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

Minneapolis, the largest city in Minnesota and the seat of Hennepin County, is located in the southeast central part of the state on the Mississippi River. It is adjacent to its �twin city� of St. Paul.In 1680, Father Louis Hennepin visited the future site of Minneapolis and gave the Falls of St. Anthony their name. Lt. Zebulon Pike made a treaty with the Sioux Indians in 1805�1806, by which they ceded to the whites much land, including the Falls of St. Anthony and the site of Minneapolis. Fort Snelling was built in 1819�1820, and in 1823 the government built a lumber and flour mill. Flour milling became the major industry of early Minneapolis and made the city the milling capital of the world. The town of St. Anthony was established on the east bank of the Mississippi in 1848, and the town of Minneapolis grew up on the opposite bank of the river. The name Minneapolis is a combination of the Dakota Sioux word �minna,� for water, and the Greek word �polis,� for city. Minneapolis was incorporated as a city in 1867, and in 1872 the city of St. Anthony (chartered in 1860) was annexed to it. After the spread of the railroads in the 1870s, Minneapolis became the gateway to the Northern Great Plains.Minneapolis is a center of industry and commerce serving a large agricultural region. During the 20th century, manufacturing, food processing, milling, computers, health services, and graphic arts developed as Minneapolis's major industries. Fifteen Fortune 500 companies are headquartered in the Minneapolis�St. Paul metropolitan area. The city is the headquarters of the Ninth Federal Reserve Bank.The Twin Cities are known for their wide array of cultural attractions, and Minneapolis is home to many fine museums, including the Minneapolis Institute of Arts, the Walker Center, and the Frederick R. Weisman Art Museum at the University of Minnesota's Minneapolis campus.The Twin Cities, Minneapolis and St. Paul, hosted the 2008 Republican National ConventionThe Minneapolis�St. Paul area is the second largest economic center in the Midwest, behind Chicago. The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery. The city at one time produced farm implements..Availability of Wi-Fi, transportation solutions, medical trials, university research and development expenditures, advanced degrees held by the work force, and energy conservation are so far above the national average that in 2005, Popular Science named Minneapolis the ""Top Tech City"" in the U.S. The Twin Cities ranked the country's second best city in a 2006 Kiplinger's poll of Smart Places to Live and Minneapolis was one of the Seven Cool Cities for young professionals.The Twin Cities contribute 63.8% of the gross state product of Minnesota. The area's $199.6 billion gross metropolitan product and its per capita personal income rank thirteenth in the U.S. Recovering from the nation's recession in 2000, personal income grew 3.8% in 2005, though it was behind the national average of 5%. The city returned to peak employment during the fourth quarter of that year.The Federal Reserve Bank of Minneapolis, serves Minnesota, Montana, North and South Dakota, and parts of Wisconsin and Michigan. The smallest of the 12 regional banks in the Federal Reserve System, it operates a nationwide payments system, oversees member banks and bank holding companies, and serves as a banker for the U.S. Treasury. The Minneapolis Grain Exchange founded in 1881 is still located near the riverfront and is the only exchange for hard red spring wheat futures and options

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

Brian�s father had started as an owner-operator and had grown Robinson Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Brian�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Brian's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Robinson Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. 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. Every time he had to turn down a request, Robinson Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Brian chuckled, thinking about his father. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Brian knew he was right in his forward thinking. How would he take Robinson Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without 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 Brian to do his homework. Brian had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. 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. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Brian it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Brian because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Robinson 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.

 

Brian stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Robinson 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

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�So, this is not a loan?� Eric Powell 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.Eric 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 Marshall. He named his business Gomez Trucking, named after Barry and Ted, his two grandfathers. They had both been hardworking men, and had done a lot to make Eric the same.Six months ago disaster struck Marshall'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. Eric depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Eric had on hand.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Eric wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Eric knew she was employed by a Factoring company and that her name was Nancy. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Nancy explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Eric nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Nancy smiled, agreeing. �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. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Nancy with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Eric filled the form out, with Nancy available to help him if he needed it. The profile filled Nancy and her company in on Marshall�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Eric completed his form, Nancy listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Nancy took it and slid it into her briefcase. She then stood, reached across the desk and shook Marshall�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Eric 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. But now, after speaking to Nancy and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. 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. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Gomez Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.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 he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Eric opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Precisely why Trucking Establishments Utilize Factoring Firms.

 

As the manager of your own firm, you may be more than knowledgeable already of the hardship in making certain that capital issues do not become a predicament down the line. Anyway, the toughest thing that can in all probability transpire for your enterprise is to find yourself swept up in a long and difficult condition that leaves you forever trying to find the resources you need on an continual manner.

 

For virtually any business in this situation, the problem can come for waiting for work to lapse and actually be repaid into your account. Bill of sales, checks, and the like can take a while to actually to beprocessed which may leave you with short-term capital issues. Fortunately, there are approaches out there for firms to delve into-- and among these is factoring providers.

 

Factoring agencies will, in substitution for your bill of sales, offer you with the funds right away so that you do not have to worry about the lingering duration which could make paying the expenses and acquiring materialsmore difficult. With this style of system, invoice factoring can end up being extraordinarily useful for various firms who need to avoid a money pitfall which they have gotten themselves in.

 

Considering that, relying on the size of the job, it can take up to 60 days for several establishments to get compensated then it is necessary to take care of your own back and definitely not leave yourself funds short to settle the expenses. After all, how many establishments possess two months earnings just lying there to handle all their expenses till they earn?

 

This is most notably correct of truck companies. They often tend to manage bunches of statements which means a huge volume of collection time involves company owner themselves. Seeking to get paid out promptly can eventually become an amazing inconvenience and this is the key reasons why you use truck factoring companies who are pleased to help out truckers mainly.

 

As we all understand, trucking is an extremely huge market with countless firms out there utilizing hundreds of operators. Regretfully, plenty of these drivers end up in money dilemmas due to the fact that they are still waiting for work from six weeks ago to actually compensate them. When this is the circumstance for a trucking firm, choosing factoring agencies for solutions might be the ideal option left.

 

This implies that a truck firm can provide the wages of the staff, keep all the cars filled with gas and continue to scale, progress and expand without consistently waiting for the cash which is taking too prolonged to come in. Trucking Businesses working without a factoring program used are leaving themselves at considerable hazard, as competitions cash out quickly and carry on to broaden.

 

There's honestly almost nothing to be stressed about when it comes to employing a Factoring company-- they commonly are not like a bank or a person who is going to leave you with a significant heap of financial debt to pay back. You give them authentic invoices from output you have already wrapped up , you are simply facilitating the payment system.

 

In the Usa, where trucking firms grow, factoring providers are not considered getting a loan in any capacity. This private settlement then permits both parties to benefit and indulge in a convenient future-- it provides the factoring provider a guaranteed resource of income to put into the list and it offers the trucking company the required cash that they sweated to earn.

 

The trucking establishment gives their invoices to the factoring company. The trucking factoring company then collect the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been utilized for many years by many varied business-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are obtaining the finances today and can actually start off putting the cash to perform.

 

Once and for all, an IOU or an invoice is absolutely not going to fund overheads, is it? For trucking agencies when the cash can be very good one day and gone the next, it is up to the drivers to work sensibly and to make certain they are leaving themselves with a notable amount of time and money to get through the week up until they are compensated once more.

 

So the next occasion your trucking establishment is having some temporary cash flow issues and you are shelling out excessive time chasing slow paying clienteles, why not start thinking of utilizing a factoring companies as a method to get your cash and give yourself a more worry-free future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.Interest is Paid Up Front. 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 not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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.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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