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How You can Get a Quick Loan of $50,000 - Our Receivable Loan Company Can Give
Your Trucking Company The Cash You Need

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Factoring invoices is advantageous for numerous reasons. It allows a truck firm to raise money without acquiring new financial obligation. While debt is often required, most truck companies would choose to raise cash without borrowing money. Debt is high-risk, and when it cannot be paid back, possessions can be repossessed. If the financial obligation is huge enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

Don't Even Think About Gpoing To The Bank Without Reading This Report - Choose A Factoring Company Instead Of A Traditional Bank Funding

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

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

Cash 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 offered and you do not have to borrow. Exactly what is truck factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering invoices to a financier instead of waiting to gather the money from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of numerous of America's most effective businesses. Why is this ironic ? Because staffing factoring is not instructed in business colleges, is seldom mentioned in business plans and is relatively unknown to bulk of most of American company individuals.

Yet it is a financial procedure that frees billions of dollars every year, enabling thousands of companies to grow and prosper. Staffing Factoring has actually been around for thousands of years. Factoring Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these big customer finance companies are really simply large Invoice Factoring Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, even though you do not pay up until you are ready.

For this service, the credit card company charges Sears a charge (typical common normal charges vary from two to 4 percent of the sale). The Advantages Receivable Loan Funding can offer many advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has currently been provided, 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 simply a few of the company requirements that can be met with instant  cash.

Receivable Funding provides the means for a manufacturer to replenish inventory and make more items to sell: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Almost any type company can benefit from Staffing Factoring. Typically, a company that extends credit will have 10 to 20 percent of its yearly sales tied up 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 bill or this week s payroll with a client s invoice, but you can sell that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a fast and easy procedure. The factor purchases the invoice at a discount, usually a couple of percentage points less than the face value of the invoice.

 

 

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oklahoma-city-factoring-companies

 

The American Transportation Organization
states that there are about
195,000 work with truck
businesses and
300,000 private companies trucking
firms certified to
operate in the U.S. that carried,
according to their newest searchings for billions of
items, materials and
fundamental materials .
There are several usual
providers either going solo or in
groups on our nation
roadways transporting these
crucial products to our
shops, factories and ports.

Also freight invoice factoring
businesses benefit
several 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 economy of Oklahoma City, once just a regional power center of government and energy exploration, has since diversified to include the sectors of information technology, services, health services and administration. The city has three Fortune 500 companies: as well as several others that are in the Fortune 1000 along with numerous large privately owned companies. The city is home to the corporate headquarters of Sonic Drive-In, whose office building and corporate restaurant is located in the Bricktown district of downtown Oklahoma City.Other large employers in Oklahoma City include: According to the Oklahoma City Chamber of Commerce, the metropolitan area's economic output grew by 33 percent between 2001 and 2005 due chiefly to economic diversification. Its gross metropolitan product was $43.1 billion in 2005 and grew to $61.1 billion in 2009.In 2008, magazine named Oklahoma City the most ""recession proof city in America"". The magazine reported that the city had falling unemployment, one of the strongest housing markets in the country and solid growth in energy, agriculture and manufacturing. However, during the early 1980s, Oklahoma City had one of the worst job and housing markets due to the bankruptcy of Penn Square Bank in 1982 and then the post-1985 crash in oil prices.In 2013, ranked Oklahoma City No. 8 on its list of the Best Places for Business and Careers.Business districts[edit]See also: Neighborhoods of Oklahoma CityBusiness Districts, and to a lesser extent, neighborhoods tend to maintain their boundaries and character through the application of zoning regulations and Business Improvement Districts (districts where property owners agree to a property tax surcharge to support additional services for the community). Through zoning regulations, historic districts, and other special zoning districts, including overlay districts, are established. Oklahoma City currently has three Business Improvement Districts, including one encompassing the Central Business District

 

"

 

 

 

View Our Factoring YouTube Videos For More Information

 

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

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

 

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

 

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

 

 

"

Spencer Truck & Haul have been operating their 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 Spencer 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. Cash was flowing and times were good for all.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 Spencer 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 Spencer, Derek Hawkins, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.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. 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. The had just gone!.This current state-of-affairs was causing Derek Hawkins to have some very restless nights. Derek was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Cathy, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would say.Derek would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the 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 Derek. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Cathy would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Cathy was trying so hard to support her husband in these worrying times, while Derek was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Derek walked into his office with a spring in his step, determined to call each and every client who owed money to Spencer Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Derek knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Derek knew that he was in trouble.

 

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 Annaerley knocked at his door.

 

""Can I have a word with you Derek?"" she queried, standing in the doorway.

 

""Sure thing Anna, come on in."" Derek leaned back in his chair and looked expectantly at Annaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Derek."" 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 of factoring?"" Annaerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Derek interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete 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.""Derek 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.�Derek was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Anna - it just sounds too good to be true"", Derek said quietly.""Now, now, I know, I thought the same thing. But think about it, Derek: 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 Derek,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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 Derek.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Derek took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Spencer 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. Derek knew only too well that the whole economy was floundering, and that it was not going to change overnight. 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 Anna, thank you."" Anna nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Derek 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 Spencer 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, Spencer 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.""Well, I'll have to tell Neil about this,"" muttered Derek to himself.Neil is Derek's son-in-law, and he really admired the ideas behind Spencer, so much so that only two years before he had started his own transportation service business. At that time Derek knew the struggles Neil would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Spencer was hurting, a little guy like Neil was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Derek was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Derek found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Derek recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Derek hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

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

 

More than forty years ago Harold's father had started this business working as an owner-operator and eventually growing Turner 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 Harold'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. But now things were different: the company was in Harold's hands and he needed to ensure that this business would be left in great 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 had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Turner Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Harold chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� 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.

 

Harold believed a successful man is always thinking of his next step. What would be the next step for Turner Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Harold 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. 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. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. 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 were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Harold 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 would not have any problems, nor would they think poorly of Turner Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Harold 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. He suddenly realized that, with this new cash flow, he could actually expand Turner 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.

 

"

 

 

 

 

 

 

 

Small Business Accounts Receivable

 

Company Invoices

 

 

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Cody Sanchez, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Cody Sanchez 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 Ernest. He named his business Ruiz Trucking, named after Gordon and Frederick, his two grandfathers. They had both been hardworking men, and had done a lot to make Cody the same.Six months ago disaster struck Ernest's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Cody depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Cody had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Cody wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Laura 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.She sat there now, and 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.Cody nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Laura smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. 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,� Laura said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Cody completed the form, with Laura offering advice as needed.

 

The completed profile gave Laura and her company all the information they needed on Ernest'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 Cody filled out his form, Laura was pretty sure he was a perfect candidate for factoring.When the form was done Laura took it and slid it into her briefcase. She then stood, reached across the desk and shook Ernest�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Cody walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Laura 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 terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really 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 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 Ruiz Trucking. And that's exactly what he did. 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 nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

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. Cody 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.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Reasons why Trucking Establishments Use Factoring Companies.

 

As the operator of your own firm, you may be much more than perceptive already of the challenge in making sure that cash flow issues do not become a difficulty down the line. Anyway, the toughest thing that can possibly occur for your firm is to find yourself involved in a long and perplexing predicament that leaves you forever trying to find the finances you need to have on an continual basis.

 

For any type of business in this instance, the concern can come for waiting for work to clear up and actually be paid out into your bank account. Bill of sales, checks, and the like could take a while to actually to beprocessed which can certainly leave you with temporary available resources troubles. Thankfully, there are opportunities out there for industries to investigate-- and just one of these is factoring providers.

 

Factoring companies will, in exchange for your accounts, give you with the cash right away in order that you do not have to fret about the delaying duration that could make paying out the expenses and getting materialsmore challenging. With this style of setup, invoice factoring can end up being extraordinarily beneficial for various companies who ought to avoid a money trap which they have discovered themselves in.

 

Since, basing on the scale of the project, it can take up to 60 days for some business enterprises to get paid then it is significant to take care of your own back and definitely not leave yourself funds short to pay off the expenses. After all, how many businesses possess two months revenue just lying there to handle all their bills until they get paid?

 

This is primarily correct of truck agencies. They generally manage numbers of statements which means a serious amount of collection time concerns company owner themselves. Striving to get compensated in time can become an amazing hassle and this is the reason why you work with trucking factoring companies who are glad to help out truckers particularly.

 

As all of us know, trucking is an exceptionally massive market with lots of companies out there working with hundreds of vehicle drivers. However, quite a few of these drivers land up in income dilemmas since they are still anticipating work from six weeks back to actually compensate them. When this is the circumstance for a trucking firm, choosing factoring companies for assistance could be the ideal alternative left.

 

This implies that a trucking firm can pay out the salaries of the personnel, keep all the cars refilled with gas and continue to go up, develop and expand without consistently waiting for the finances which is taking too lengthy to come in. Trucking Enterprises functioning without a factoring program applied are leaving themselves at significant threat, as rivals cash out fast and continue to grow.

 

There's honestly almost nothing to be troubled about when it comes to working with a Factoring business-- they commonly are not like a bank or somebody who is going to leave you with a substantial stockpile of debt to repay. You give them legitimate invoices from job you have already finalized , you are only expediting the repayment process.

 

In the Usa, where trucking agencies do well, factoring agencies are not considered borrowing in any capacity. This private contract then makes it possible for both groups to benefit and indulge in a comfortable future-- it provides the factoring company a warranted asset of money to include in the list and it furnishes the trucking firm the needed cash that they worked hard to obtain.

 

The trucking firm presents their invoices to the factoring agency. The trucking factoring agency then acquire the payment amounts from the trucking company's clients. Factoring has been all around for hundreds of years and has been adopted for long times by several various business-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you team up with, it signifies that you are acquiring the cash today and can actually begin putting the resources to function.

 

After all, an IOU or an invoice is not going to pay for bills, is it? For trucking firms when the resources can be good one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a significant amount of time and finance to get through the week until they are paid for once more.

 

So the next moment your trucking establishment is bearing some momentary capital troubles and you are shelling out a lot of time chasing inactive paying customers, why not start off looking at using a factoring companies as a manner to get your finances and give yourself a more worry-free future in the eyes of your trucking team and your bank balance?

 

 

 

 

 

 

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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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

1. You will not Incur Debt. You do not 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 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. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. 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. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing 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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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