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Business Owners! Want Quick Curls? - Our Trucking Factoring Companies Can Provide
Your Trucking Company The Cash You Need

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Medium-Size freight brokerage companies, particularly those who have not been around for extremely long, will frequently discover it difficult to secure a loan. Banks are often reluctant to lend money to businesses that do not have a great deal of income and properties. They also want proof of the practicality of a business and hence require that a lot of operations, particularly small ones, been around for a certain quantity of time prior to they are eager to turn over any money. Because of this, a medium-size company commonly has few money creating alternatives when requires emerge. One choice readily available, but commonly overlooked, is factoring. This is an exceptional means for a small business to obtain cash.

 

 

 

 

 

 

 

Profits That Lie Hidden In Your Company - Choose A Factoring Company Instead Of A Regular Bank Financing

Exactly how to Increase Cash 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 bad cash flow.

Cash flow does not have to be a problem any more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. Exactly what is trucking factoring ? One option is called trucking factoring. Truck Factoring is the process of selling invoices to an investor rather than waiting to collect the cash from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the financial foundation of many of America's most effective businesses. Why is this paradoxical ? Since accounts receivable factoring is not instructed in business colleges, is rarely discussed in company plans and is relatively unknown to the majority of most of American business people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless businesses to grow and prosper. Accounts Receivable Factoring has been around for thousands of years. Receivable Financing Businesses are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a large portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest meaning of the word, these large customer finance companies are truly just big Truck Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, although you do not pay until you are prepared.

For this service, the charge card company charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Staffing Factoring can provide many benefits 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 cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the company needs that can be met with instant  cash.

Receivable Financing offers the ways for a manufacturer to replenish stock and make even more items to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management device for manufacturers: Almost any type business can take advantage of Trucking Factoring. Generally, 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 moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can sell that invoice for the cash to satisfy those obligations. Using truck factoring companies is a fast and easy procedure. The factoring company purchases the invoice at a price cut, typically a few portion points less than the stated value of the invoice.

 

 

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The American Transportation Organization
mentions that there are about
195,000 truck drivers with transportation
companies and
250,000 personal providers trucking
companies certified to
operate in the U.S. that transported,
according to their most current searchings for billions of
items, supplies and
fundamental materials .
There are a number of common
providers either going solo or in
groups on our nation
highways transferring these
important products to our
shops, manufacturingplants and shipping ports.

Moreover freight bill factoring
companies help
many of them and offer their
accounts receivablesfinancing facilities
countrywidecounting
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

 

"

Wichita is the largest city in Kansas and the seat of Sedgwick County. It is located in the south-central part of the state, at the couence of the Arkansas and Little Arkansas rivers. Incorporated as a city in 1870, Wichita is the chief commercial and industrial center of southern Kansas.More or less uninhabited at the time of Kansas's entry into the Union in 1861, the area was first settled by Wichita Indians, who came north from Texas and Oklahoma during the Civil War. At about the same time (during the mid-1860s) a number of trading posts were established at or near the river junction. One of the traders, Jesse Chisholm, pioneered the Chisholm Trail, which passed through Wichita and was the main cattle-drive route from Texas to the railroad in Abilene. After the railroad was extended to Wichita in 1872, the city boomed first as a cow town and then later as the trading center in an agricultural and livestock region. Although the city experienced an economic slump at the end of the 19th century, oil was discovered nearby in 1915, and subsequently the population almost doubled.Aircraft manufacturing began in the 1920s, and Wichita remains a center of the aircraft industry today. In addition, the city also has flour mills, meatpacking plants, and oil refineries. Major manufactures include camping equipment, heaters and air conditioners, and electronics. Wichita has a number of art and historical museums, a zoo, and a planetarium. It is the site of several universities, including Wichita State University (1895). McConnell Air Force Base is nearbyWichita's principal industrial sector is manufacturing, which accounted for 21.6 percent of area employment in 2003. Aircraft manufacturing has long dominated the local economy, and plays such an important role that it has the ability to iuence the economic health of the entire region; the state offers tax breaks and other incentives to aircraft manufacturers.Healthcare is Wichita's second-largest industry, employing approximately 28,000 people in the local area. Since healthcare needs remain fairly consistent regardless of the economy, this field was not subject to the same pressures that affected other industries in the early 2000s. The Kansas Spine Hospital opened in 2004, as did a critical care tower at Wesley Medical Center. In July 2010, Via Christi Health, which is the largest provider of healthcare services in Kansas, opened a hospital that will serve the northwest area of Wichita. Via Christi Hospital on St. Teresa is the system's fifth hospital to serve the Wichita community.Thanks to the early 20th-Century oil boom in neighboring Butler County, Kansas, Wichita became a major oil town, with dozens of oil exploration companies and support enterprises. Most famous of these was Koch Industries, today a global natural-resources conglomerate, which is still headquartered in Wichita. The city was also at one time the headquarters of the both operate headquarters facilities in Wichita. Koch Industries' primary global corporate headquarters complex is located in a large office-tower complex in northeast Wichita. The following is a summary of data regarding the Wichita metropolitan area labor force, 2004 annual average:Size of nonagricultural labor force: 282,800Number of workers employed in:construction and mining: 16,100manufacturing: 58,400trade, transportation and utilities: 49,500information: 6,100financial activities: 12,200professional and business services: 26,300educational and health services: 38,400leisure and hospitality: 25,200other services: 12,100government: 38,500Average hourly earnings of production workers employed in manufacturing: $19.45 (2004)Unemployment rate: 6.3% (February 2005)Aircraft manufacturing[edit]From the early to late 20th century, aircraft pioneers such as Clyde , ""Matty"" Laird, Lloyd Stearman, Walter Beech, Al Mooney and Bill Lear began aircraft-manufacturing enterprises that would lead to Wichita becoming the nation's leading city in numbers of aircraft produced. (the world's highest-volume airplane manufacturer) and craft remain based in Wichita having merged into Aviation in 2014, along with Learjet and Boeing's chief subassembly supplier, Systems. bus maintains a workforce in Wichita, and (parent company of Learjet) has other divisions in Wichita as well. Over 50 other aviation businesses operate in the Wichita MSA, as well dozens of suppliers and subcontractors to the local aircraft manufacturers. In total, Wichita and its companies have manufactured an estimated 250,000 aircraft since Clyde Cessna's first Wichita-built aircraft in 1916.In the early 2000s, a national and international recession combined with the after effects of the 9/11/2001 terrorist attacks to depress the aviation sub-sector in and around Wichita. Orders for new aircraft plummeted, prompting Wichita's five largest aircraft manufacturers, �to slash a combined 15,000 jobs between 2001 and 2004. In response, these companies began developing small- and mid-sized airplanes to appeal to business and corporate users. In 2007, Wichita built 977 aircraft, ranging from single-engine light aircraft to the world's fastest civilian jet; one-fifth of the civilian aircraft produced in United States that year, plus numerous small military aircraft. In early 2012, Boeing announced it would be closing its Wichita plant by the end of 2013.

 

"

 

View Our Trucking Factoring YouTube Videos For More Information

 

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

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

 

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.

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

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

 

 

"

Willis 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 Willis Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. And worse yet, Willis had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Gordon Spencer, CEO of Willis felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had 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. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Willis money had jumped ship and decided to leave him holding the bag.

 

. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Gordon Spencer 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. In the evenings he would discuss his concerns with his wife, Bernice, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Gordon 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 then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Gordon. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Gordon knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Gordon walked into his office with a spring in his step, determined to call each and every client who owed money to Willis Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Gordon knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Gordon knew that he was in trouble.

 

Poor Gordon 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.

 

""Gordon, can I have a word?"" she asked standing in the doorway.

 

""Of course Amber, please come in."" Gordon relaxed back into his chair and looked up at Ambererley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Gordon."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Ambererley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Gordon interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Gordon replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Gordon studied the documents very closely.""I do not know, Amber - it just sounds too good to be true"", Gordon said quietly.""Now, now, I know, I thought the same thing. But think about it, Gordon: 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 Gordon,"" she underlined a paragraph on the paper before him.""Just 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 Gordon.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.""Gordon thought about this and agreed with Ambererley. The clients who owed them money were long standing friends and professional resources of Willis. They did not want to throw away these relationships because they were having trouble paying their bills now. Gordon knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Amber, thank you."" Amber stood up and left Gordon's office, with the nice feeling of knowing that she may just have solved a very serious problem.Gordon sat behind his desk and looked over the details Amber had not mentioned in their meeting. What other issues could freight factoring help Willis 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. Gordon was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Ronnie the good news,"" Gordon muttered to himself.Gordon's son-in-law, Ronnie, loved the idea behind Willis and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Gordon knew the struggles Ronnie would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Willis was struggling then the little guys, like Ronnie, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Gordon was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Gordon was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Gordon 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.

 

"

 

"

Wichita is the largest city in Kansas and the seat of Sedgwick County. It is located in the south-central part of the state, at the couence of the Arkansas and Little Arkansas rivers. Incorporated as a city in 1870, Wichita is the chief commercial and industrial center of southern Kansas.More or less uninhabited at the time of Kansas's entry into the Union in 1861, the area was first settled by Wichita Indians, who came north from Texas and Oklahoma during the Civil War. At about the same time (during the mid-1860s) a number of trading posts were established at or near the river junction. One of the traders, Jesse Chisholm, pioneered the Chisholm Trail, which passed through Wichita and was the main cattle-drive route from Texas to the railroad in Abilene. After the railroad was extended to Wichita in 1872, the city boomed first as a cow town and then later as the trading center in an agricultural and livestock region. Although the city experienced an economic slump at the end of the 19th century, oil was discovered nearby in 1915, and subsequently the population almost doubled.Aircraft manufacturing began in the 1920s, and Wichita remains a center of the aircraft industry today. In addition, the city also has flour mills, meatpacking plants, and oil refineries. Major manufactures include camping equipment, heaters and air conditioners, and electronics. Wichita has a number of art and historical museums, a zoo, and a planetarium. It is the site of several universities, including Wichita State University (1895). McConnell Air Force Base is nearbyWichita's principal industrial sector is manufacturing, which accounted for 21.6 percent of area employment in 2003. Aircraft manufacturing has long dominated the local economy, and plays such an important role that it has the ability to iuence the economic health of the entire region; the state offers tax breaks and other incentives to aircraft manufacturers.Healthcare is Wichita's second-largest industry, employing approximately 28,000 people in the local area. Since healthcare needs remain fairly consistent regardless of the economy, this field was not subject to the same pressures that affected other industries in the early 2000s. The Kansas Spine Hospital opened in 2004, as did a critical care tower at Wesley Medical Center. In July 2010, Via Christi Health, which is the largest provider of healthcare services in Kansas, opened a hospital that will serve the northwest area of Wichita. Via Christi Hospital on St. Teresa is the system's fifth hospital to serve the Wichita community.Thanks to the early 20th-Century oil boom in neighboring Butler County, Kansas, Wichita became a major oil town, with dozens of oil exploration companies and support enterprises. Most famous of these was Koch Industries, today a global natural-resources conglomerate, which is still headquartered in Wichita. The city was also at one time the headquarters of the both operate headquarters facilities in Wichita. Koch Industries' primary global corporate headquarters complex is located in a large office-tower complex in northeast Wichita. The following is a summary of data regarding the Wichita metropolitan area labor force, 2004 annual average:Size of nonagricultural labor force: 282,800Number of workers employed in:construction and mining: 16,100manufacturing: 58,400trade, transportation and utilities: 49,500information: 6,100financial activities: 12,200professional and business services: 26,300educational and health services: 38,400leisure and hospitality: 25,200other services: 12,100government: 38,500Average hourly earnings of production workers employed in manufacturing: $19.45 (2004)Unemployment rate: 6.3% (February 2005)Aircraft manufacturing[edit]From the early to late 20th century, aircraft pioneers such as Clyde , ""Matty"" Laird, Lloyd Stearman, Walter Beech, Al Mooney and Bill Lear began aircraft-manufacturing enterprises that would lead to Wichita becoming the nation's leading city in numbers of aircraft produced. (the world's highest-volume airplane manufacturer) and craft remain based in Wichita having merged into Aviation in 2014, along with Learjet and Boeing's chief subassembly supplier, Systems. bus maintains a workforce in Wichita, and (parent company of Learjet) has other divisions in Wichita as well. Over 50 other aviation businesses operate in the Wichita MSA, as well dozens of suppliers and subcontractors to the local aircraft manufacturers. In total, Wichita and its companies have manufactured an estimated 250,000 aircraft since Clyde Cessna's first Wichita-built aircraft in 1916.In the early 2000s, a national and international recession combined with the after effects of the 9/11/2001 terrorist attacks to depress the aviation sub-sector in and around Wichita. Orders for new aircraft plummeted, prompting Wichita's five largest aircraft manufacturers, �to slash a combined 15,000 jobs between 2001 and 2004. In response, these companies began developing small- and mid-sized airplanes to appeal to business and corporate users. In 2007, Wichita built 977 aircraft, ranging from single-engine light aircraft to the world's fastest civilian jet; one-fifth of the civilian aircraft produced in United States that year, plus numerous small military aircraft. In early 2012, Boeing announced it would be closing its Wichita plant by the end of 2013.

 

"

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring Corey Lane 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. Lane Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

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

 

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

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Corey allowed himself a good hard chuckle. 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Corey believed a successful man is always thinking of his next step. What would be the next step for Lane 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.

 

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 like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Corey to do his homework. Corey 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. 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. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Corey 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 would not have any problems, nor would they think poorly of Lane 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.

 

Corey stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Lane Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

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Trucking Factoring  Articles

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�So, this is not a loan?� Karl Weaver asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Karl smiled at him, shaking her head.�Not quite,� she said.Karl 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 Ricky. His company was called Howard Trucking, named after both of his grandfathers, Don and Alfredo. Both of these men had been very hardworking and had set a great example for Ricky.Disaster had struck half a year ago, when two trucks in Ricky�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Karl depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Karl 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. Karl knew she was employed by a Factoring company and that her name was Heather. Karl 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.Heather explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Karl agreed. It sounded good to him, almost too good.Heather laughed. �You look like you don�t 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.�Heather smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Heather said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Karl filled the form out, with Heather available to help him if he needed it. The completed profile gave Heather and her company all the information they needed on Ricky's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Karl completed his form, Heather listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Heather took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Ricky's hand. He also stood up, and they smiled at each other. They said their goodbyes and Karl walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Heather and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Howard Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Ricky's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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More Trucking Factoring Company Story Articles

Why Trucking Establishments Employ Factoring Companies.

 

As the owner of your own firm, you may perhaps be more than conscious already of the challenge in making certain that cash flow matters do not become a difficulty down the line. After all, the most unfortunate thing that can in all probability take place for your business is to find yourself embroiled in a long and problematic condition that leaves you forever looking for the cash you require on an continuous basis.

 

For pretty much any business in this case, the complication can come for waiting for work to lapse and actually be provided into your balance. Bill of sales, checks, and the like could take a while to actually to be taken care of which can easily leave you with short-term available resources problems. The good news is, there are approaches out there for firms to look into-- and just one of these is factoring providers.

 

Factoring companies will, in substitution for your invoices, grant you with the money now to ensure you do not need to worry about the waiting time span that could make paying off the expenses and purchasing toolsmore troublesome. With this kind of system, invoice factoring can end up being incredibly beneficial for several establishments who need to avoid a cash lure which they have gotten themselves in.

 

Simply because, depending upon the scale of the work, it can take up to 60 days for several establishments to get paid out then it is necessary to take care of your own back and definitely not leave yourself money short to pay off the costs. After all, how many establishments possess two months income just occupying there to deal with all their expenditures till they earn?

 

This is most especially correct of trucking agencies. They generally manage tons of accounts which means a notable amount of collection period entails company owner themselves. Striving to get paid promptly can turn into an incredible difficulty and this is the reason why you use trucking factoring agencies who are thrilled to help out truckers mainly.

 

As most of us realize, trucking is an amazingly massive field with countless organizations out there working with hundreds of vehicle drivers. However, several of these drivers end up in income troubles because they are still anticipating work from six weeks back to actually compensate them. When this is the scenario for a trucking company, depending on factoring agencies for reinforcement maybe the ideal choice left.

 

This indicates that a truck company can compensate the paychecks of the staff, keep all the trucks topped off with fuel and continue to escalate, grow and expand without consistently waiting for the funds which is taking too prolonged to come in. Trucking Enterprises running without a factoring program established are leaving themselves at considerable hazard, as contenders cash out rapidly and proceed to grow.

 

There's honestly not much to be worried about when it comes to utilizing a Factoring establishment-- they usually are not like a financial institution or someone who is going to leave you with a big stockpile of liability to repay. You give them genuine invoices from work you have already finished , you are just accelerating the repayment system.

 

In the United States, where trucking companies flourish, factoring establishments are not considered accepting loan of in any capacity. This confidential arrangement then makes it possible for both parties to make money and enjoy a worry-free future-- it gives the factoring provider a warranted asset of income to put into the list and it provides the trucking business the needed funds that they worked hard to get.

 

The trucking business provides their accounts to the factoring enterprise. The trucking factoring provider then collect the payments from the trucking company's clients. Factoring has been in existence for centuries and has been used for decades by a lot of diverse markets-- but none more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you collaborate with, it signifies that you are acquiring the resources today and can actually start off putting the money to operate.

 

Once and for all, an IOU or an invoice is not actually going to fund overheads, is it? For trucking establishments when the cash can be fantastic one day and gone the next, it is up to the drivers to work smartly and to make sure that they are leaving themselves with a notable quantity of time and money to get through the week until they are paid for once more.

 

So the next moment your trucking business is enduring some momentary cash flow dilemmas and you are putting in excessive time chasing inactive paying clients, why not start thinking about using a factoring businesses as a way to get your finances and give yourself a more comfortable future in the eyes of your trucking personnel and your bank difference?

 

 

 

 

 

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. 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.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So 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. 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.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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