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The Secrets of Making People Like You Get - Our Invoice Factoring Company Can Provide
Your Trucking Company The Cash You Need

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Medium-Size trucking companies, particularly those who have not been in existence for extremely long, will typically discover it difficult to secure a loan. Banks are typically reluctant to lend cash to companies that do not have a lot of income and assets. They also desire evidence of the viability of a company and thus need that the majority of operations, particularly little ones, be in business for a particular amount of time prior to they want to hand over any money. Due to the fact that of this, a small business frequently has few cash generating options when requires occur. One option offered, but frequently neglected, is factoring. This is an outstanding way for a small business to obtain cash.

 

 

 

 

 

 

 

They Grinned When the Banker Spoke to Me in French - Pick A Truck�Factoring Company  Instead Of A Typical Bank Financing

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

At one time or another, every business, even effective 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 offered and you do not have to borrow. What is trucking factoring ? One solution is called truck factoring. Trucking Factoring is the process of offering accounts receivable to an investor rather than waiting to gather the money from the client. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most effective companies. Why is this ironic ? Since receivable funding is not instructed in business colleges, is seldom mentioned in business plans and is fairly unknown to bulk of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, enabling countless companies to grow and prosper. Truck Factoring has actually been around for thousands of years. Commercial Factoring Companies are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest definition of the word, these large consumer finance companies are really just big Receivable Loan Funding Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, although you do not pay up until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal charges vary from two to 4 percent of the sale). The Benefits Factoring can provide many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been delivered, a company can factor (sell) its receivables for money at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be met with instant  money.

Accounts Receivable Factoring provides the means for a manufacturer to replenish stock and make more items to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management tool for producers: Practically any type business can take advantage of Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and simple procedure. The factor buys the invoice at a price cut, typically a few portion points less than the stated value of the invoice.

 

 

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The United states Transportation Association
mentions that there are about
205,000 work with truck
firms and
276,000 personal companies trucking
firms licensed to
run in the United States that transported,
according to their newest listings of millions of
products, supplies and
standard materials .
There are several typical
carriers either going solo or in
groups on our country
highways transporting these
crucial items to our
shops, factories and shipping ports.

Plus freight bill factoring
firms help
many of them and offer their
receivable loan services
nationwideincluding
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 Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Diego.Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. �the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states�is headquartered in Denver, employing approximately 3,500 people. Also producer of automotive belts and hoses, was established in S. Denver in 1919. Denver. . Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, the Denver Mint and the National Renewable Energy Laboratory.In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the economic success of the city. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy dropped with it, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor r, a former geologist), and the highest office vacancy rate in the nation (30%). Since then, the industry has recovered and there remain 700 employed petroleum engineers in the region. Advances is hydraulic fracturing has made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such The Downtown region has seen increased real estate investment with the construction of several new skyscrapers set to be completed in 2010�2013.Denver has also enjoyed success as a pioneer in the fast casual restaurant industry, with many popular national chain restaurants founded and based in Denver. In 2013, Denver ranked No. 6 on list of the Best Places for Business and Careers

 

 

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

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

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

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

 

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

 

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.

 

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

 

 

"

Gray 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 Gray Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.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 Gray 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 Gray, Adam Gregory, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had 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. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Gray hadn't gone elsewhere. They had just gone home.To Adam Gregory the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Judy, and still find no relief from the worry and frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Adam 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. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Adam. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" All Judy could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Judy was trying so hard to support her husband in these worrying times, while Adam was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Adam strolled into his office and was determined to sit down and make every phone call to every client who had owed Gray money. 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, Adam knew that he was in trouble.

 

Poor Adam 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 Adam?"" she queried, standing in the doorway.

 

""Of course Mattie, please come in."" Adam leaned back in his chair and looked expectantly at Mattieerely.""Well Adam, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Adam interrupted.""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Adam replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Adam studied the documents very closely.""I do not know, Mattie - it just sounds too good to be true"", Adam said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Adam,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Adam.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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 Adam.Adam took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Adam thought about this and agreed with Mattieerley. The clients who owed them money were long standing friends and professional resources of Gray. They did not want to throw away these relationships because they were having trouble paying their bills now. Adam knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Mattie, thank you."" Mattie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Adam sat behind his desk and looked over the details Mattie had not mentioned in their meeting. What other issues could freight factoring help Gray with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Gray could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Robert about this,"" muttered Adam to himself.His son-in-law Robert had liked the idea of Gray so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Adam knew the struggles Robert would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Gray was struggling then the little guys, like Robert, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Adam was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Adam 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. Adam looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Adam hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

The Denver MSA has a gross metropolitan product of $157.6 billion in 2010, making it the 18th largest metro economy in the United States. Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 500 miles (800 km), it has become a natural location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states. Another benefit for distribution is that Denver is nearly equidistant from large cities of the Midwest, such as Chicago and St. Louis and some large cities of the West Coast, such as Los Angeles and San Diego.Over the years, the city has been home to other large corporations in the central United States, making Denver a key trade point for the country. Several well-known companies originated in or have relocated to Denver. Instrument Company in 1895 to make analytical balances for gold assayers. Its factory is now in Arvada. �the largest owner and operator of apartment communities in the United States, with approximately 870 communities comprising nearly 136,000 units in 44 states�is headquartered in Denver, employing approximately 3,500 people. Also producer of automotive belts and hoses, was established in S. Denver in 1919. Denver. . Along with federal agencies come many companies based on US defense and space projects, and more jobs are brought to the city by virtue of its being the capital of the state of Colorado. The Denver area is home to the former nuclear weapons plant Rocky Flats, the Denver Federal Center, the Denver Mint and the National Renewable Energy Laboratory.In 2005, a $310.7 million expansion for the Colorado Convention Center was completed, doubling its size. The hope was that the center's expansion would elevate the city to one of the top 10 cities in the nation for holding a convention.Denver's position near the mineral-rich Rocky Mountains encouraged mining and energy companies to spring up in the area. In the early days of the city, gold and silver booms and busts played a large role in the economic success of the city. In the 1970s and early 1980s, the energy crisis in America and resulting high oil prices created an energy boom in Denver captured in the soap opera Dynasty. Denver was built up considerably during this time with the construction of many new downtown skyscrapers. When the price of oil dropped from $34 a barrel in 1981 to $9 a barrel in 1986, the Denver economy dropped with it, leaving almost 15,000 oil industry workers in the area unemployed (including former mayor and current governor r, a former geologist), and the highest office vacancy rate in the nation (30%). Since then, the industry has recovered and there remain 700 employed petroleum engineers in the region. Advances is hydraulic fracturing has made the DJ Basin of Colorado into an accessible and lucrative oil play. Energy and mining are still important in Denver's economy today, with companies such The Downtown region has seen increased real estate investment with the construction of several new skyscrapers set to be completed in 2010�2013.Denver has also enjoyed success as a pioneer in the fast casual restaurant industry, with many popular national chain restaurants founded and based in Denver. In 2013, Denver ranked No. 6 on list of the Best Places for Business and Careers

 

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Joe Stewart 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. Stewart Trucking Company was at a turning point of growth and Joe had to decide if signing with a factoring company was the right way forward.

 

Joe�s father had started as an owner-operator and had grown Stewart Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Joe'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. Now the company was solely in Joe�s hands and he wanted to live to see it in better shape for his sons.

 

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

 

His father would have told him to wait and to take his time adding on new technology. Joe chuckled, thinking about his father. He remembered when his father was totally against installing 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). 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.

 

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

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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.

 

Joe had to really consider what his next step was going to be. Joe 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Joe it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Joe because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Stewart Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Feeling happier now, Joe stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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. With the capabilities of this new cash flow, Joe could actually expand Stewart Trucking Company further across the country and perhaps even go international into Canada. 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 It is not a loan?� asked Ray Davis, reclining back into his chair and crossing his legs. The woman sitting across the desk from Ray smiled at him, shaking her head.�No, not exactly,� she said.Ray Davis owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Darryl. He named his business Castro Trucking, named after Kyle and Enrique, his two grandfathers. Both of these men had been very hardworking and had set a great example for Darryl.Disaster had struck half a year ago, when two trucks in Darryl�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Darryl's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Ray was an excellent business man, and he certainly hadn't done anything wrong. 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.And that's why he found himself across the desk from this woman. Ray knew she was employed by a Factoring company and that her name was Connie. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. 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.Ray nodded. It sounded perfect - perhaps too good?.Connie 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.�Connie nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Connie with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ray completed the form, with Connie offering advice as needed.

 

The completed profile gave Connie and her company all the information they needed on Darryl'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 Ray completed his form, Connie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Connie took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Darryl�s hand. He stood before they shook as well, and then smiled. Ray walked Connie to the door where they said 'Goodbye', then he went back into 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. Talking to Connie though, learning about factoring, it felt like a weight had been lifted from 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 there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Castro Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.

 

The idea of cutting his losses, shutting down, laying off his workers, it actually made him 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. Ray opened his eyes, sat forward, turned his computer on. He had things 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 Truck Establishments Make use of Factoring Companies.

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

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

 

 

 

 

 

 

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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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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

 

1. There is no debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's 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. 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 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. 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.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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.

 

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