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How To Get More Cash - Our Truck Factoring Company Can Give
Your Trucking Company The Cash You Need

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Invoice Factoring is helpful for several reasons. It permits a truck firm to raise cash without acquiring new financial obligation. While debt is occasionally essential, most trucking companies would choose to raise money without borrowing cash. Debt is high-risk, and when it cannot be repaid, properties can be repossessed. If the financial obligation is huge enough, it could even compel a trucking firms out of business.

 

 

 

 

 

 

 

To Companies Who Want To Write - but Can't Get Started - Choose A Truck�Factoring Company  Instead Of A Regular Bank Funding

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

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

Money flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling invoices to an investor instead of waiting to collect the money from the client. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial foundation of many of America's most successful businesses. Why is this ironic ? Since receivable loan funding is not taught in business colleges, is seldom mentioned in company strategies and is fairly unknown to the majority of most of American business individuals.

Yet it is a financial process that frees billions of dollars every year, allowing countless companies to grow and succeed. FACTORING has actually been around for thousands of years. Receivable Funding Companies are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest meaning of the word, these large consumer finance companies are truly simply large Truck Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid practically instantly, although you do not make payment until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to 4 percent of the sale). The Advantages Invoice Factoring can provide many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has 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 company needs that can be satisfied with instant  cash.

Trucking Factoring offers the means for a producer to replenish stock and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Almost any type company can take advantage of Staffing Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in invoices at any given time. Think for a moment about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a fast and easy procedure. The factor purchases the invoice at a price cut, typically a couple of portion points less than the stated value of the invoice.

 

 

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The United states Trucking Organization
states that there around
200,000 work with transportation
companies and
300,000 personal service providers trucking
companies certified to
operate in America that carried,
according to their most current listings of millions of
items, materials and
fundamental products .
There are a number of usual
providers either going solo or in
teams on our country
highways transferring these
vital products to our
shops, factories and shipping ports.

Plus freight factoring
firms support
countless of them and offer their
accounts receivablesfinancing facilities
nationallycounting
including the following states.

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

 

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.

 

 

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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:

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

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

 

Click below to find Trucking Companies in the United States:

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

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.

 

"

 

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.

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Eugene Ross just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Ross 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.

 

Eugene�s father had started as an owner-operator and had grown Ross 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 Eugene�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 Eugene�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Ross Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Eugene 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?� 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.

 

Eugene knew he was right in his forward thinking. What would be the next step for Ross 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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 a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Eugene 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! 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. 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 sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. 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 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 Eugene 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 Ross 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.

 

Feeling happier now, Eugene stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Eugene could actually expand Ross Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

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Trucking Factoring  Articles

"

�So, this is not a loan?� asked Francisco Russell, reclining back into his chair and crossing his legs. The woman sitting across the desk from Francisco smiled at him, shaking her head.�Not quite,� she said.Francisco Russell owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Ken. His company was called Holt Trucking, named after both of his grandfathers, Douglas and Andre. Both of these men had been very hardworking and had set a great example for Ken.Disaster had struck half a year ago, when two trucks in Ken�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Ken's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Francisco had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Francisco 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.That�s where the woman across the desk came in. Her name was Elaine and she worked for a factoring company. 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.Elaine explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Francisco agreed. It sounded perfect - perhaps too good?.Elaine laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Elaine smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Elaine with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Francisco filled the form out, with Elaine available to help him if he needed it. The completed profile gave Elaine and her company all the information they needed on Ken'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 Francisco filled out his form, Elaine was pretty sure he was a perfect candidate for factoring.When the form was done Elaine took it and slid it into her briefcase. She then stood, reached across the desk and shook Ken�s hand. He stood before they shook as well, and then smiled. Francisco walked Elaine to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He 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 Elaine 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 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 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 Holt Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

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. Ken's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The reason why Truck Corporations Employ Factoring Firms.

 

As the owner of your own business, you may likely be much more than perceptive already of the hardship in making certain that cash flow concerns do not become a predicament down the line. After all, the toughest thing that can quite possibly take place for your firm is to find yourself dragged in a long and hard condition that leaves you forever looking for the money you really need on an continuous basis.

 

For just about any business in this condition, the concern can come for waiting for work to clear up and actually be paid out into your statement. Invoices, checks, and the like can take a while to actually to be taken care of which could leave you with temporary cash flow troubles. Fortunately, there are opportunities out there for establishments to explore-- and among these is factoring providers.

 

Factoring firms will, in substitution for your accounts, supply you with the cash money now so that you do not need to fret about the delaying time span that could make paying the expenses and getting materialsmore tough. With this form of setup, invoice factoring can come to be extremely beneficial for many companies who have to get out of a money lure which they have discovered themselves in.

 

Since, basing on the scale of the work, it can take up to 60 days for many businesses to get paid out then it is necessary to cover your own back and not leave yourself funds short to pay the monthly bills. After all, how many businesses have two months revenue just lying there to deal with all their expenses till they earn?

 

This is especially true of truck agencies. They tend to manage tons of invoices which means a significant volume of collection period concerns company owner themselves. Seeking to get paid promptly can become an amazing difficulty and this is exactly why you make use of trucking factoring agencies who are pleased to help out truckers exclusively.

 

As we all understand, trucking is an extremely massive field with plenty of agencies out there working with hundreds of vehicle drivers. The sad thing is, many of these drivers wind up in cash issues given that they are still expecting work from six weeks back to actually pay them. When this is the scenario for a truck agency, depending on factoring companies for support may be the most effective option left.

 

This signifies that a trucking business can pay off the salaries of the workers, keep all the trucks topped off with gas and continue to go up, progress and expand without constantly waiting for the income which is taking too long to come in. Trucking Businesses running without a factoring program used are leaving themselves at significant danger, as contenders cash out promptly and proceed to expand.

 

There's absolutely very little to be distressed about when it comes to working with a Factoring company-- they usually are not like a financial institution or a person who is going to leave you with a massive mass of personal debt to repay. You give them legitimate invoices from output you have already wrapped up , you are simply expediting the payment system.

 

In the Usa, where trucking agencies succeed, factoring enterprises are not considered getting a loan in any capacity. This private deal then makes it possible for both groups to make money and take pleasure in a convenient future-- it gives the factoring provider a guaranteed asset of profit to include in the list and it provides the trucking company the needed funds that they sweated to get.

 

The trucking establishment provides their invoices to the factoring firm. The trucking factoring agency then take the payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been used for long times by plenty of different business sectors-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it indicates that you are getting the finances today and can actually begin putting the resources to perform.

 

Once and for all, an IOU or an invoice is certainly not going to finance expenditures, is it? For trucking agencies when the money can be very good one day and gone the next, it is up to the drivers to work prudently and to make certain they are leaving themselves with a considerable measure of time and money to get through the week till they are paid for once again.

 

So the next period your trucking company is enduring some short-term cash flow problems and you are spending a lot of time chasing slow paying clients, why not start looking into employing a factoring businesses as a way to get your finances and give yourself a more pleasant future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of 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?

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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.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. 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 main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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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