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My Company has 9 New Products - Imagine -
Our Receivables Factoring
Can Give
Your Trucking Company
The Cash You Want



factoring trucking receivables

trucking invoice factoring companies

factoring truck loads

best factoring companies for trucking

Trucking Factoring is beneficial for a number of factors. It permits a truck firm to raise cash without obtaining new debt. While financial obligation is sometimes required, many truck companies would choose to raise cash without borrowing money. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is big enough, it might even force a freight brokerage out of business.

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

The Best Factoring Company Instead Of A Regular Bank Funding

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

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get financing. Other solutions are available and you do not have to borrow money. What is trucking factoring ? One solution is called receivables factoring. Trucking Factoring is the process of selling invoices to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial foundation of many of America's most effective businesses. Why is this paradoxical ? Since receivable funding is not taught in business colleges, is seldom discussed in business strategies and is fairly unknown to bulk of most of American company individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing thousands of companies to grow and succeed. Receivable Funding has been around for thousands of years. Invoice Factoring Businesses are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these big customer finance companies are really simply big Truck Factoring Businesses of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost instantly, although you do not make payment up until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal charges range from 2 to four percent of the sale). The Advantages Trucking Factoring can offer many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has already been provided, a business can factor (sell) its receivables for money at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be met with instant  money.

Receivables Factoring offers the ways for a producer to replenish stock and make more items to offer: There is no longer a need to wait for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for producers: Almost any type business can take advantage of Invoice Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can offer that invoice for the money to meet those obligations. Using truck factoring companies is a quick and easy process. The factoring company buys the invoice at a discount, typically a couple of portion points less than the face value of the invoice.



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The United states Transportation Organization
specifies that there are about
195,000 employees with truck
companies and
300,000 private providers trucking
firms certified to
run in the U.S. that carried,
according to their latest data of millions
products, materials and
fundamental products .
There are a number of common
providers either going solo or in
teams on our country
roads transferring these
vital products to our
shops, factories and ports.

Moreoverfreight invoice factoring
businesses support
several of them and offer their
factoring services
nationwide counting
including the following states.

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



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Receivables financing company Calculator
This calculator will show you how much you will make by using our receivables financing company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our receivables financing company
Enter the principal balance of your receivables financing company
(call your receivables financing company lender and ask for the current payoff amount):
Enter the amount of your monthly receivables financing company payment:
(invoice amount):
Enter the your receivables financing company's current interest rate: is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

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


Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The Truckers� 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


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 JOC Top 50 Trucking Companies list, based on data prepared by SJ Consulting Group in Pittsburgh. is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

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




Since the mid 1980s Phillips Truck & Haul have been successfully running their freight business. 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 heady times from 2002 to 2007, Phillips was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.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 to a crawl


. Worse still, it was noticed by Phillips 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. Spring changed to summer, summer changed to fall, and the CEO of Phillips, Douglas Fuller, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Phillips hadn't gone elsewhere. They had just gone home.The situation looked dire to Douglas Fuller. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Janet, and still find no relief from the worry and frustration.


""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Douglas would stare off into the distance, and then slowly close his 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Douglas. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Janet could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Janet was trying so hard to support her husband in these worrying times, while Douglas was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Douglas walked into his office with a spring in his step, determined to call each and every client who owed money to Phillips Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Douglas knew that he was in trouble.


Poor Douglas spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.


""Douglas, can I have a word?"" she queried, standing in the doorway.


""Sure thing Dora, come on in."" Douglas relaxed back into his chair and looked up at Doraerley.""Well Douglas, this afternoon I did some research, trying to work out how we're going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Doraerley asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.


So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Douglas interrupted ""Immediately?"".""Immediately, yes"" she added, ""It's actually very simple. 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.��I see,� Douglas said. �And then what?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Douglas leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Dora,"" he said.""Now, now, I know, I thought the same thing. But think about it, Douglas: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Douglas,"" she underlined a paragraph on the paper before him.""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're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Douglas.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Douglas thought about this and agreed with Doraerley. The customers who were in debt to Phillips Truck & Haul were professional resources of the company, but they were also long-standing friends. Douglas wasn't prepared to lose these relationships just because they were having financial issues at the moment. Douglas knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he didn't handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Well, let me think about this tonight Dora, thank you."" Dora nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Douglas sat behind his desk and looked over the details Dora had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Phillips 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, Phillips could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Jimmie the good news,"" Douglas muttered to himself.Jimmie is Douglas's son-in-law, and he really admired the ideas behind Phillips, so much so that only two years before he had started his own transportation service business. At that time Douglas knew the struggles Jimmie would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Phillips was hurting, a little guy like Jimmie was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Douglas found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Douglas recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Douglas hadn't discovered freight factoring at just the right time, his business may not be operating today.





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Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Jamie Kim just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Jamie is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Kim Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.


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


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


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


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


He wondered about factoring - was this the answer for him? If he was being honest, he didn't really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.


Jamie had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?


But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he wouldn't have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.


It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Jamie because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Kim Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.


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




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Trucking Factoring  Articles

�So, this is not a loan?� Ruben Young asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Ruben smiled at him, shaking her head.�No, not exactly,� she said.Ruben 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 Aaron. He named his business Franklin Trucking, named after Neil and Fernando, his two grandfathers. Both of these men had been very hardworking and had set a great example for Aaron.Disaster had struck half a year ago, when two trucks in Aaron�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Ruben depended on his full fleet, and missing two trucks was devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.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.Ruben was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Charlotte 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.Charlotte explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we're protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Ruben nodded. It sounded good to him, almost too good.Charlotte 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 actually thought I might end up losing my business.�Charlotte nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.��In any case, thank you for coming to see me.��No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Charlotte said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ruben completed the form, with Charlotte offering advice as needed.


The completed profile gave Charlotte and her company all the information they needed on Aaron's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Ruben completed his form, Charlotte listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Charlotte took it and slid it into her briefcase. She then stood, reached across the desk and shook Aaron�s hand. He also stood up, and they smiled at each other. Ruben walked Charlotte to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Charlotte 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.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Franklin Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just didn't have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Ruben opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.





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The reason why Trucking Firms Make use of Factoring Companies.


As the operator of your own business, you may be more than perceptive already of the hardship in making certain that cash flow issues do not become a dilemma down the line. After all, the most horrible thing that can possibly take place for your business is to find yourself swept up in a long and problematic circumstance that leaves you forever looking for the funds you necessitate on an on-going basis.


For any type of enterprise in this predicament, the concern can come for waiting for work to lapse and actually be settled into your bank account. Statements, checks, and the like can take a while to actually to be taken care of which can certainly leave you with momentary cash flow difficulties. Thankfully, there are alternatives out there for companies to examine-- and just one of these is factoring providers.


Factoring agencies will, in exchange for your invoices, offer you with the funds today to ensure you don't have to worry about the waiting phase which could make paying out the bills and purchasing materialsmore difficult. With this type of setup, invoice factoring can become exceptionally practical for many enterprises who ought to get out of a money trap which they have found themselves in.


Simply because, depending upon the size of the project, it can take up to 60 days for several companies to get compensated then it's very important to cover your own back and not leave yourself money short to pay off the expenses. After all, how many firms possess two months revenue just occupying there to cover all their expenditures until they earn?


This is most notably correct of truck enterprises. They often tend to deal with great deals of invoices which means a significant quantity of collection time concerns company owner themselves. Attempting to get paid out in time can become an incredible hassle and this is exactly why you utilize truck factoring companies who are pleased to help out truckers exclusively.


As we all understand, trucking is an unbelievably massive market with plenty of companies out there utilizing hundreds of operators. Regrettably, several of these drivers wind up in money predicaments for the reason that they are still anticipating work from six weeks ago to actually compensate them. When this is the condition for a trucking company, depending on factoring agencies for support may be the most suitable alternative left.


This means that a trucking company can compensate the wages of the crew, keep all the trucks refilled with gas and continue to go up, rise and expand without continually waiting for the finances which is taking too lengthy to come in. Trucking Establishments working without a factoring system established are leaving themselves at critical danger, as contenders cash out promptly and go on to grow.


There's genuinely nothing to be worried about when it comes to making use of a Factoring business-- they usually are not like a banking company or someone who is going to leave you with a significant mound of personal debt to pay back. You give them authentic invoices from job you have already wrapped up , you are only just facilitating the payment process.


In the United States, where trucking enterprises succeed, factoring establishments are not considered taking on loan in any capacity. This confidential deal then allows both parties to profit and delight in a worry-free future-- it gives the factoring business a guaranteed resource of revenue to include in the list and it supplies the trucking firm the required funds that they worked hard to obtain.


The trucking business gives their accounts to the factoring establishment. The trucking factoring company then collect the payment amounts from the trucking company's clients. Factoring has beenaround for centuries and has been used for several years by several diverse business-- but none more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it implies that you are receiving the resources today and can actually start setting the money to function.


After all, an IOU or an invoice is absolutely not going to pay for costs, is it? For trucking establishments when the resources can be very good one day and gone the next, it's up to the vehicle drivers to work prudently and to make certain they are leaving themselves with a considerable volume of time and money to get through the week up until they are paid for again.


So the next period your trucking establishment is having some temporary capital challenges and you are devoting way too much time chasing slow paying clients, why not begin looking at utilizing a factoring companies as a means to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank difference?








Traditional Bank Loans


Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. 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.


What Are Trucking Factoring Companies?


Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. 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.


Benefits of a Trucking Factoring Company Vs. A Bank Loan


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


1. There is no debt. You don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.


2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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. You'll receive the 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 you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.


As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you don't 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.


Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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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