Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Profits That Lie Hidden In Your Company - Our Truck Factoring Company Can Provide
Your Freight Company The Cash You Want

workingcapitalfactoring.org

trucking factoring companies reviews

factoring for trucking

trucking factoring companies reviews

trucking factoring company

Small truck companies, especially those who have actually not been in existence for very long, will frequently find it tough to protect a loan. Banks are often hesitant to provide cash to businesses that do not have a lot of income and possessions. They also desire proof of the viability of a company and therefore need that many operations, especially small ones, be in business for a certain quantity of time before they are prepared to turn over any cash. Because of this, a small company frequently has a couple of money generating alternatives when needs emerge. One choice available, but typically overlooked, is receivable Financing. This is an exceptional means for a medium-size company to obtain cash.

 

 

 

 

 

 

 

Great New Discovery Kills Cash Flow Problems Quick! - Select A Freight�Invoice Factoring Company  Instead Of A Typical Bank Funding

How to Increase Money Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

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

Cash flow does not have to be a problem any 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. What is trucking factoring ? One option is called trucking factoring. Trucking Factoring is the process of offering invoices to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial foundation of numerous of America's most effective companies. Why is this ironic ? Since factoring is not taught in business colleges, is seldom discussed in business strategies and is relatively unidentified to the majority of most of American company individuals.

Yet it is a financial process that releases up billions of dollars every year, enabling thousands of businesses to grow and succeed. Invoice Factoring has been around for thousands of years. Staffing Factoring Businesses are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a big percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Using the purest definition of the word, these large customer finance companies are truly simply large Accounts Receivable Factoring Companies of consumer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, although you do not pay until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Receivable Funding can provide many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually currently been provided, a company can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  money.

Trucking Factoring offers the means for a manufacturer to renew inventory and make more products to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management device for producers: Almost any kind company can take advantage of Accounts Receivable Factoring. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about how much is bound 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 offer that invoice for the cash to satisfy those obligations. Using truck factoring companies is a quick and easy process. The factor buys the invoice at a price cut, typically a few percentage points less than the stated value of the invoice.

 

 

Please call our
freight factoring specialists at
1 - 888-239-9162
or

E-mail Us
or complete the
OnLine
Trucking Factoring Request Kind

 

 

st-petersburg-factoring-companies

 

The United states Truck Association
specifies that there are about
200,000 workers with freight trucking
firms and
250,000 private companies trucking
firms certified to
operate in the States that transported,
according to their latest data of millions
items, supplies and
basic materials .
There are a number of usual
providers either going solo or in
teams on our nation
roads transferring these
crucial products to our
stores, manufacturing facilities and shipping ports.

Also freight factoring
businesses support
countless of them and offer their
receivable loan facilities
nationwidecounting
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

 

"

St. Petersburg is a city in Pinellas County, Florida, United States. As of the 2013 census estimate, the population was 249,688, making St. Petersburg the 5th most populous city in the state of Florida and the largest city in Florida that is not a county seat (the city of Clearwater is the county seat). St. Petersburg is the second largest city in the Tampa Bay Area, composed of roughly 2.8 million residents, making it the second largest Metropolitan Statistical Area in the state. It is also a popular vacation destination for both American and foreign tourists.The city is often referred to by locals as St. Pete. Neighboring St. Pete Beach formally shortened its name in 1994 after a vote by its residents. St. Petersburg is governed by a mayor and city council.The city is located on a peninsula between Tampa Bay and the Gulf of Mexico. It is connected to mainland Florida to the north; with the city of Tampa to the east by causeways and bridges across Tampa Bay; and to Bradenton in the south by the Sunshine Skyway Bridge (Interstate 275), which traverses the mouth of the bay. It is also served by Interstates 175 and 375, which branch off I-275 into the southern and northern areas of downtown respectively. The Gandy Bridge, conceived by George Gandy and opened in 1924, was the first causeway to be built across Tampa Bay, connecting St. Petersburg and Tampa cities without a circuitous 43-mile (69 km) trip around the bay through Oldsmar.With an average of some 361 days of sunshine each year, and a Guinness World Record for logging the most consecutive days of sunshine (768 days), it is nicknamed ""The Sunshine City"". Due to its good weather and low cost of living, the city has long been a popular retirement destination, although in recent years the population has moved in a much more youthful direction. American Style magazine ranked St. Petersburg its top mid-size city in 2011, citing its ""vibrant"" arts scene

 

"

 

Watch Our Factoring YouTube Video For More Information

 

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

 

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.

 

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.

 

"

Since the mid 1980s Wells 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, Wells was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Wells 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, Melvin Clark, CEO of Wells felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? 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 Wells money had jumped ship and decided to leave him holding the bag.

 

. They could not 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 Wells hadn't gone elsewhere. They had just gone home.To Melvin Clark the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Sheila, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Melvin 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 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 Melvin. ""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 Sheila could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Sheila was trying so hard to support her husband in these worrying times, while Melvin was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Melvin walked into his office with a spring in his step, determined to call each and every client who owed money to Wells Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Melvin 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. Wasting money, wasting time - even with the best of intentions, Melvin knew that he was in trouble.

 

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

 

""Can I have a word with you Melvin?"" she asked standing in the doorway.

 

""Sure thing Dianne, come on in."" Melvin relaxed back into his chair and looked up at Dianneerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Melvin."" 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?"" Dianneerley asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Melvin interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Melvin said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Melvin was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Dianne,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Melvin,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Melvin.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Melvin said.Melvin took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Melvin thought about this and agreed with Dianneerley. The customers who were in debt to Wells Truck & Haul were professional resources of the company, but they were also long-standing friends. Melvin wasn't prepared to lose these relationships just because they were having financial issues at the moment. Melvin knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Dianne, thank you."" Dianne nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Melvin keep the shirt on his back, and possibly hers too.Melvin 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 Wells Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Melvin was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Raul about this,"" muttered Melvin to himself.His son-in-law Raul had liked the idea of Wells so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Melvin knew the struggles Raul would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Wells was struggling then the little guys, like Raul, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Melvin was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Melvin 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. Melvin recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

St. Petersburg is a city in Pinellas County, Florida, United States. As of the 2013 census estimate, the population was 249,688, making St. Petersburg the 5th most populous city in the state of Florida and the largest city in Florida that is not a county seat (the city of Clearwater is the county seat). St. Petersburg is the second largest city in the Tampa Bay Area, composed of roughly 2.8 million residents, making it the second largest Metropolitan Statistical Area in the state. It is also a popular vacation destination for both American and foreign tourists.The city is often referred to by locals as St. Pete. Neighboring St. Pete Beach formally shortened its name in 1994 after a vote by its residents. St. Petersburg is governed by a mayor and city council.The city is located on a peninsula between Tampa Bay and the Gulf of Mexico. It is connected to mainland Florida to the north; with the city of Tampa to the east by causeways and bridges across Tampa Bay; and to Bradenton in the south by the Sunshine Skyway Bridge (Interstate 275), which traverses the mouth of the bay. It is also served by Interstates 175 and 375, which branch off I-275 into the southern and northern areas of downtown respectively. The Gandy Bridge, conceived by George Gandy and opened in 1924, was the first causeway to be built across Tampa Bay, connecting St. Petersburg and Tampa cities without a circuitous 43-mile (69 km) trip around the bay through Oldsmar.With an average of some 361 days of sunshine each year, and a Guinness World Record for logging the most consecutive days of sunshine (768 days), it is nicknamed ""The Sunshine City"". Due to its good weather and low cost of living, the city has long been a popular retirement destination, although in recent years the population has moved in a much more youthful direction. American Style magazine ranked St. Petersburg its top mid-size city in 2011, citing its ""vibrant"" arts scene

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Randy Wood let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Randy is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Wood 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 Randy's father had started this business working as an owner-operator and eventually growing Wood Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Randy's mother had jumped into the cab at times 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. Now the company was solely in Randy�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They had families and household bills too. 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, Wood Trucking looked weak in a very strong market.

 

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

 

Randy believed a successful man is always thinking of his next step. What would be the next step for Wood Trucking? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Randy to do his homework. 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. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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 was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Randy it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Randy because he and his father had created a very strong and loyal list of clientele over the years. 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 Wood 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.

 

Randy 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 Wood Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Lee Bennett asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Lee smiled at him, shaking her head.�No, not exactly,� she stated.Lee Bennett owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Carl. He named his business Wade Trucking, named after Fernando and Sergio, his two grandfathers. Both of these men had been very hardworking and had set a great example for Carl.Six months ago disaster struck Carl'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. The financial security of Carl'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 Lee had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Lee 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 Jennifer and she worked for a factoring company. Lee had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Jennifer 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. 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.Lee nodded. It sounded perfect - perhaps too good?.Jennifer 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.�Jennifer smiled, agreeing. �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. 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,� Jennifer said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Lee completed the form, with Jennifer offering advice as needed.

 

The completed profile gave Jennifer and her company all the information they needed on Carl'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 were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Lee filled out his form, Jennifer was pretty sure he was a perfect candidate for factoring.When the form was done Jennifer took it and slid it into her briefcase. She then stood, reached across the desk and shook Carl�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Lee walked her to the door, and then returned to 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 leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Jennifer though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. 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 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.Lee couldn�t help but think back to when he had first started the 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 it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Wade Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

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. Carl's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Why Truck Establishments Make use of Factoring Companies.

 

As the operator of your own firm, you may likely be more than wary already of the challenge in making sure that cash flow issues do not become a predicament down the line. After all, the most awful thing that can in all probability occur for your establishment is to find yourself embroiled in a long and problematic condition that leaves you forever searching for the funds you really need on an continuous manner.

 

For pretty much any business enterprise in this circumstance, the complication can come for waiting for work to clear up and actually be compensated into your statement. Invoices, checks, and the like can take some time to actually to be taken care of which can certainly leave you with short-term available resources troubles. Gratefully, there are options out there for industries to delve into-- and just one of these is factoring firms.

 

Factoring companies will, in substitution for your invoices, provide you with the funds right now to ensure you do not need to worry about the waiting time frame that could make paying off the expenses and getting toolsmore hard. With this form of system, invoice factoring can become remarkably practical for lots of firms who ought to avoid a money trap which they have discovered themselves in.

 

Simply because, depending on the size of the job, it can take up to 60 days for a number of businesses to get paid out then it is very important to cover your own back and not leave yourself money short to settle the expenses. After all, how many enterprises possess two months revenue just occupying there to address all their spendings until they earn?

 

This is specifically correct of truck firms. They tend to manage lots of statements which means a huge amount of collection time entails business owner themselves. Seeking to get paid out in time can end up being an amazing hassle and this is the key reasons why you work with truck factoring organizations who are thrilled to help out truckers mainly.

 

As we all determine, trucking is an surprisingly huge market with plenty of companies out there handling hundreds of vehicle drivers. However, numerous of these drivers land up in cash dilemmas considering that they are still anticipating work from six weeks earlier to actually pay them. When this is the case for a truck business, resorting to factoring agencies for solutions could be the most ideal choice left.

 

This means that a trucking organization can pay out the wages of the personnel, keep all the vehicles loaded with fuel and continue to surmount, rise and expand without constantly waiting for the resources which is taking too long to come in. Trucking Business enterprises functioning without a factoring program implemented are leaving themselves at notable risk, as contenders cash out fast and carry on to broaden.

 

There's genuinely not much to be stressed about when it comes to making use of a Factoring contractor-- they are not like a financial institution or someone who is going to leave you with a significant mound of financial obligation to pay back. You give them genuine invoices from output you have already finalized , you are only just speeding up the repayment system.

 

In the United States, where truck firms survive, factoring agencies are not considered getting a loan in any capacity. This confidential contract then lets both parties to make money and take pleasure in a comfortable future-- it gives the factoring agency a secured asset of income to put into the list and it gives the trucking company the needed money that they worked hard to generate.

 

The trucking enterprise bestows their statements to the factoring agency. The trucking factoring firm then receive the payment amounts from the trucking company's customers. Factoring has been all around for hundreds of years and has been adopted for several years by several varied industries-- but none much more so than truckers. While you may lose out on a small part of the money, something like 1-3 % depending upon who you work with, it signifies that you are obtaining the finances today and can actually begin setting the resources to perform.

 

After all, an IOU or an invoice is definitely not going to pay for overheads, is it? For trucking companies when the income can be excellent one day and gone the next, it is up to the drivers to work smartly and to guarantee they are leaving themselves with a significant amount of time and money to get through the week until they are handed over once more.

 

So the next occasion your trucking enterprise is bearing some temporary cash flow concerns and you are putting in a bit too much time chasing inactive paying clienteles, why not begin thinking about utilizing a factoring businesses as a manner to get your cash and give yourself a more worry-free future in the eyes of your trucking workers and your bank difference?

 

 

 

 

 

 

"

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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This 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. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. 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. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. 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.

 

"

 

 

 

 

Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines