Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

How To Make a Good Profits - Our Truck Factoring Company Can Provide
Your Freight Company The Money Your Company Needs

workingcapitalfactoring.org

factoring for trucking

factoring for trucking companies

factoring trucking receivables

trucking factoring companies reviews

Small trucking companies, particularly those who have not been in existence for very long, will frequently find it hard to protect a loan. Banks are often hesitant to lend cash to businesses that do not have a great deal of earnings and assets. They likewise desire proof of the viability of a company and hence need that many operations, particularly little ones, be in business for a particular amount of time prior to they are willing to hand over any money. Since of this, a medium-size business commonly has a couple of cash creating alternatives when requires emerge. One alternative available, however frequently overlooked, is invoice factoring. This is an exceptional way for a small business to obtain money.

 

 

 

 

 

 

 

Thousands Now Play Who Never Thought They Could - Pick The Best Factoring Company Instead Of A Traditional Bank Financing

How to Increase Money Flow Without Borrowing -Cash Money flow is one of the main reasons businesses fail.

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow. Exactly what is truck factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of offering invoices to a financier rather than waiting to collect the money from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial backbone of many of America's most effective companies. Why is this ironic ? Since commercial factoring is not taught in business colleges, is seldom discussed in company plans and is relatively unknown to the majority of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Receivable Loan Financing has been around for thousands of years. Commercial 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 debt your customer has to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance business are truly simply big Receivable Funding Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money almost instantly, even though you do not make payment up until you are ready.

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

Truck Factoring offers the means for a manufacturer to replenish stock and make more products to sell: There is no longer a requirement to wait for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Practically any kind business can benefit from Receivable Financing. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the cash to meet those obligations. Using trucking factoring companies is a fast and easy procedure. The factor purchases the invoice at a discount, usually a couple of portion points less than the stated value of the invoice.

 

 

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

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

 

 

st-paul-factoring-companies

 

The United states Truck Organization
states that there are about
200,000 work with freight trucking
businesses and
300,000 personal providers trucking
companies licensed to
run in America that carried,
according to their most current data of millions
items, materials and
fundamental products .
There are several typical
providers either going solo or in
teams on our nation
highways carrying these
crucial items to our
shops, manufacturing facilities and ports.

Furthermore trucking factoring
firms help
numerous of them and offer their
receivables financing facilities
countrywideincluding
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 Minneapolis�Saint Paul�Bloomington area employs 1,570,700 people in the private sector as of July 2008, 82.43 percent of which work in private service providing-related jobs.Major corporations headquartered in Saint Paul include Ecolab, a chemical and cleaning product company which was named in 2008 by the Minneapolis / St. Paul Business Journal as the eighth best place to work in the Twin Cites for companies with 1,000 full-time Minnesota employees, Securian Financial Group Inc. and Gander Mountain, a retailer of sporting goods which operates 115 stores in 23 states.The 3M Company is often cited as one of Saint Paul's companies, though it is located in adjacent Maplewood, Minnesota. 3M employs 16,000 people throughout Minnesota. St. Jude Medical, a manufacturer of medical devices, is directly across the municipal border of Saint Paul in Little Canada, though the company's address is listed in Saint Paul.The city was home to the Twin Cities Assembly Plant, which opened in 1924 and closed at the end of 2011. The site is located in Highland Park on the Mississippi River adjacent to Lock and Dam No. 1, Mississippi River which generates hydroelectric powerSaint Paul is the capital and second-most populous city of the state of Minnesota. As of 2013, the city's estimated population was 294,873. Saint Paul is the county seat of Ramsey County, the smallest and most densely populated county in Minnesota. The city lies mostly on the east bank of the Mississippi River in the area surrounding its point of couence with the Minnesota River, and adjoins Minneapolis, the state's largest city. Known as the ""Twin Cities,"" the two form the core of Minneapolis�Saint Paul, the 16th-largest metropolitan area in the United States, with about 3.46 million residents.Founded near historic Native American settlements as a trading and transportation center, the city rose to prominence when it was named the capital of the Minnesota Territory in 1849. Though Minneapolis is better-known nationally, Saint Paul contains the state government and other important institutions. Regionally, the city is known for the Xcel Energy Center, home of the Minnesota Wild, and for the Science Museum of Minnesota. As a business hub of the Upper Midwest, it is the headquarters of companies such as Ecolab. Saint Paul, along with its Twin City, Minneapolis, is known for its high literacy rate. It was the only city in the United States with a population of 250,000 or more to see an increase in circulation of Sunday newspapers in 2007.The settlement originally began at present-day Lambert's Landing, but was known as Pig's Eye after Pierre ""Pig's Eye"" Parrant established a popular tavern there. When Fr. Lucien Galtier, the first Catholic pastor of the region, established the Log Chapel of Saint Paul (shortly thereafter to become the first location of the Cathedral of Saint Paul), he made it known that the settlement was now to be called by that name, as ""Saint Paul as applied to a town or city was well appropriated, this monosyllable is short, sounds good, it is understood by all Christian denominations..."".[

 

"

 

View Our Truck Factoring Companies YouTube Videos For More Information

 

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

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

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

 

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.

 

"

Johnston 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 Johnston Truck & Haul was the mastermind of a top-rated accounts receivable in 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 down. Worse still, it was noticed by Johnston 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 Johnston, Cecil Thompson, 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 already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. They could not afford to pay him their debt, but they could afford a lesser service, maybe. 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 Cecil Thompson to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Kristin and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Cecil 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 on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" Cecil said. ""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."" Kristin 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'.""Kristin was trying so hard to support her husband in these worrying times, while Cecil was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Cecil walked into his office with a spring in his step, determined to call each and every client who owed money to Johnston Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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, Cecil knew that he was in trouble.

 

Poor Cecil 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 Cecil?"" she asked standing in the doorway.

 

""Sure thing Patricia, come on in."" Cecil relaxed back into his chair and looked up at Patriciaerley.""Well Cecil, this afternoon I did some research, trying to work out how we are going to get out of this mess."" 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?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Cecil interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Cecil said. �And then what?""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. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Cecil studied the documents very closely.""I do not know, Patricia - it just sounds too good to be true"", Cecil said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Cecil: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Cecil,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Cecil.""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. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Cecil said.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.""Cecil took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Johnston Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Cecil was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. 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 Patricia, thank you."" Patricia nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Cecil keep the shirt on his back, and possibly hers too.Cecil sat behind his desk and looked over the details Patricia had not mentioned in their meeting. What other issues could freight factoring help Johnston 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, Johnston could receive up to fifty-percent cash advances upon load pick-ups. Cecil was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Bradley about this,"" muttered Cecil to himself.His son-in-law Bradley had liked the idea of Johnston 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. Cecil knew then what struggles Bradley would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Johnston was struggling then the little guys, like Bradley, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Cecil was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Cecil found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Cecil 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.

 

"

 

"

The Minneapolis�Saint Paul�Bloomington area employs 1,570,700 people in the private sector as of July 2008, 82.43 percent of which work in private service providing-related jobs.Major corporations headquartered in Saint Paul include Ecolab, a chemical and cleaning product company which was named in 2008 by the Minneapolis / St. Paul Business Journal as the eighth best place to work in the Twin Cites for companies with 1,000 full-time Minnesota employees, Securian Financial Group Inc. and Gander Mountain, a retailer of sporting goods which operates 115 stores in 23 states.The 3M Company is often cited as one of Saint Paul's companies, though it is located in adjacent Maplewood, Minnesota. 3M employs 16,000 people throughout Minnesota. St. Jude Medical, a manufacturer of medical devices, is directly across the municipal border of Saint Paul in Little Canada, though the company's address is listed in Saint Paul.The city was home to the Twin Cities Assembly Plant, which opened in 1924 and closed at the end of 2011. The site is located in Highland Park on the Mississippi River adjacent to Lock and Dam No. 1, Mississippi River which generates hydroelectric powerSaint Paul is the capital and second-most populous city of the state of Minnesota. As of 2013, the city's estimated population was 294,873. Saint Paul is the county seat of Ramsey County, the smallest and most densely populated county in Minnesota. The city lies mostly on the east bank of the Mississippi River in the area surrounding its point of couence with the Minnesota River, and adjoins Minneapolis, the state's largest city. Known as the ""Twin Cities,"" the two form the core of Minneapolis�Saint Paul, the 16th-largest metropolitan area in the United States, with about 3.46 million residents.Founded near historic Native American settlements as a trading and transportation center, the city rose to prominence when it was named the capital of the Minnesota Territory in 1849. Though Minneapolis is better-known nationally, Saint Paul contains the state government and other important institutions. Regionally, the city is known for the Xcel Energy Center, home of the Minnesota Wild, and for the Science Museum of Minnesota. As a business hub of the Upper Midwest, it is the headquarters of companies such as Ecolab. Saint Paul, along with its Twin City, Minneapolis, is known for its high literacy rate. It was the only city in the United States with a population of 250,000 or more to see an increase in circulation of Sunday newspapers in 2007.The settlement originally began at present-day Lambert's Landing, but was known as Pig's Eye after Pierre ""Pig's Eye"" Parrant established a popular tavern there. When Fr. Lucien Galtier, the first Catholic pastor of the region, established the Log Chapel of Saint Paul (shortly thereafter to become the first location of the Cathedral of Saint Paul), he made it known that the settlement was now to be called by that name, as ""Saint Paul as applied to a town or city was well appropriated, this monosyllable is short, sounds good, it is understood by all Christian denominations..."".[

 

"

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Timothy Allen let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Timothy is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Allen Trucking Company was at a turning point of growth and Timothy had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Timothy's father had started this business working as an owner-operator and eventually growing Allen 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 Timothy's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Timothy'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. 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, Allen Trucking looked weak in a very strong market.

 

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

 

Timothy knew he was right in his forward thinking. What would be the next step for Allen Trucking? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Timothy to do his homework. Timothy had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Timothy it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Timothy 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 Allen Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Timothy 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 Allen 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 Trucking Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� asked Marcus Lee, reclining back into his chair and crossing his legs. The woman sitting across the desk from Marcus smiled at him, shaking her head.�No, not exactly,� she stated.Marcus was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Glenn. He named his business Daniels Trucking, named after James and Clinton, his two grandfathers. Both of these men had been very hardworking and had set a great example for Glenn.Six months ago disaster struck Glenn'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. Marcus 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 Marcus 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Marcus wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Vanessa and she worked for a factoring company. Marcus 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.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Marcus nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Vanessa nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""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,� Vanessa said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Marcus filled the form out, with Vanessa available to help him if he needed it. The completed profile gave Vanessa and her company all the information they needed on Glenn'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. As Marcus completed his form, Vanessa listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Vanessa took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Glenn�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Marcus 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 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 Vanessa and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Marcus couldn�t help but think back to when he had first started the 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 Daniels Trucking. So he did it. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Glenn'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 Firms Work with Factoring Firms.

 

As the manager of your own business enterprise, you may be much more than perceptive already of the challenge in making certain that cash flow concerns do not become a dilemma down the line. After all, the most unfortunate thing that can in all probability take place for your establishment is to find yourself embroiled in a long and problematic situation that leaves you forever looking for the funds you necessitate on an on-going basis.

 

For any sort of business enterprise in this condition, the trouble can come for waiting for work to lapse and actually be paid into your bank account. Statements, checks, and the like could take a long time to actually to beprocessed which could leave you with temporary cash flow issues. Luckily, there are solutions out there for firms to look into-- and among these is factoring firms.

 

Factoring agencies will, in substitution for your bill of sales, provide you with the funds now so you do not need to stress over the lingering duration which could make paying the bills and obtaining materialsmore challenging. With this type of system, invoice factoring can become extremely helpful for countless establishments who need to avoid a money trap which they have found themselves in.

 

Since, relying on the volume of the job, it can take up to 60 days for several enterprises to get paid out then it is critical to cover your own back and not leave yourself funds short to pay off the monthly bills. After all, how many establishments have two months revenue just lying there to cover all their overheads till they make money?

 

This is especially correct of truck companies. They often manage lots of statements which means a notable amount of collection time concerns business owner themselves. Attempting to get paid promptly can end up being an unbelievable struggle and this is exactly why you use truck factoring firms who are glad to help out truckers exclusively.

 

As all of us understand, trucking is an surprisingly large business with plenty of firms out there handling hundreds of operators. Regrettably, several of these drivers land up in income predicaments considering that they are still waiting for work from six weeks back to actually pay them. When this is the case for a trucking business, choosing factoring companies for solutions may be the most ideal alternative left.

 

This signifies that a trucking firm can compensate the wages of the staff, keep all the cars refilled with fuel and continue to escalate, thrive and expand without consistently waiting for the finances which is taking too prolonged to come in. Trucking Businesses running without a factoring system used are leaving themselves at substantial threat, as competitions cash out rapidly and continue to broaden.

 

There's honestly nothing at all to be stressed about when it comes to employing a Factoring establishment-- they are not like a bank or a person who is going to leave you with a huge mass of financial obligation to pay back. You give them legitimate invoices from work you have already accomplished , you are only just quickening the payment process.

 

In the United States, where trucking agencies grow, factoring companies are not considered getting a loan in any capacity. This private settlement then permits both groups to profit and enjoy a convenient future-- it gives the factoring company a warranted resource of earnings to add to the list and it supplies the trucking firm the required funds that they worked hard to generate.

 

The trucking establishment provides their accounts to the factoring agency. The trucking factoring business then acquire the payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been used for long times by several diverse sectors-- but none more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you deal with, it indicates that you are getting the funds today and can actually begin putting the money to do work.

 

After all, an IOU or an invoice is not going to fund bills, is it? For trucking enterprises when the funds can be good one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a notable measure of time and finance to get through the week till they are handed over once more.

 

So the next occasion your trucking company is enduring some short-term capital concerns and you are investing a bit too much time chasing slow paying clienteles, why not begin looking at employing a factoring businesses as a way to get your finances and give yourself a more worry-free future in the eyes of your trucking personnel and your bank balance?

 

 

 

 

 

 

"

Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing 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. 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. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. 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. There's no collateral required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. 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.

 

"

 

 

 

 

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