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Do Your Receivables Turn as Quickly as You Would Like - Our Freight Factoring Company Can Give
Your Freight Company The Money You Need

businessfinanceresource.org

freight factoring definition

best trucking factoring

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Using a Truck Factoring Company is advantageous for several factors. It enables a truck firm to raise money without obtaining new debt. While financial obligation is sometimes required, most truck companies would like to raise money without borrowing cash. Debt is high-risk, and when it cannot be paid back, properties can be repossessed. If the financial obligation is large enough, it could even force a truck businesses out of business.

 

 

 

 

 

 

 

Cash For Companies. Tell Us What You Want - Pick A Receivable Loan C0mpany Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of selling invoices to a financier instead of waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the monetary backbone of numerous of America's most successful businesses. Why is this paradoxical ? Because receivable funding is not instructed in business colleges, is seldom mentioned in business strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing countless companies to grow and prosper. Receivable Funding has been around for countless years. Trucking Factoring Businesses are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest meaning of the word, these big customer finance business are really just large Receivable Loan Funding Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically instantly, although you do not make payment up until you are ready.

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

Truck Factoring provides the means for a manufacturer to renew stock and make even more items to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a money management device for producers: Practically any type business can take advantage of Invoice Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can sell that invoice for the cash to meet those obligations. Using trucking factoring companies is a fast and simple procedure. The factor buys the invoice at a discount, usually a couple of portion points less than the face value of the invoice.

 

 

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kansas-city-factoring-companies

 

The U.s. Truck Organization
states that there are about
200,000 employees with transportation
companies and
300,000 private providers trucking
companies certified to
operate in the States that carried,
according to their most current searchings for billions of
items, materials and
standard materials .
There are numerous usual
providers either going solo or in
teams on our country
roadways transferring these
important products to our
shops, manufacturing facilities and shipping ports.

Also freight factoring
corporations benefit
several of them and offer their
receivables financing facilities
nationwidecounting
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming

 

"

Kansas City is one of ten regional office cities for the United States Government. The U.S. Government is the largest employer in the Kansas City metro area, with more than 146 federal agencies maintaining a presence. The Internal Revenue Service maintains a large service center in Kansas City that is nearly 1,400,000 square feet (130,000 m2). The IRS facility is one of only two facilities in the nation to process paper returns. The IRS has approximately 2,700 full-time employees in Kansas City and upwards of 4,000 employees during peak tax season with the addition of temporary employees. The General Services Administration has more than 800 employees in Kansas City, with most located at the Bannister Federal Complex in South Kansas City. The Bannister Complex is also home to the Kansas City Plant, which is a National Nuclear Security Administration facility operated by Honeywell. Honeywell employs nearly 2,700 at the Kansas City Plant, which produces and assembles 85 percent of the non-nuclear components of the United States nuclear bomb arsenal. The Social Security Administration has more than 1,700 employees in the Kansas City area, with more than 1,200 located at its Mid-America Program Service Center (MAMPSC) in downtown Kansas City. Company operates a large manufacturing facility just outside of Kansas City in Claycomo at the City Assembly Plant, which currently builds the F-150. It has previously assembled the Of late, it has been developing some academic and economic institutions related to animal health sciences, an effort most recently bolstered by the selection of Manhattan, Kansas, at one end of the Kansas City Animal Health Corridor, as the site for the National Bio and Agro-Defense Facility, which is tasked, among other things, to research animal-related diseases.Numerous agriculture companies operate out of the city. Dairy Farmers of America, the largest Dairy Co-op in the United States is located here. Kansas City Board of Trade is the principal trading Exchange for hard red winter wheat � the principal ingredient of bread.Tnew oblong headquarters in downtown Kansas CityThe business community is serviced by two major business magazines, the Kansas City Business Journal (published weekly) and Ingram's Magazine (published monthly), as well as numerous other smaller publications, including a local society journal, the Independent (published weekly). Kansas City is literally ""on the money."" Bills issued by the Federal Reserve Bank of Kansas City are marked the letter ""J"" and/or number ""10."" The single dollar bills have Kansas City's name on them. The Kansas City Federal Reserve built a new bank building that opened in 2008 and relocated near Union Station. Missouri is the only state to have two of the 12 Federal Reserve Bank headquarters (St. Louis also has a headquarters). Kansas City's effort to get the bank was helped by former Kansas City mayor who as senator broke a tie to get the Federal Reserve Act passed.The national headquarters for the Veterans of Foreign Wars is headquartered just south of Downtown Kansas City.With a Gross Metropolitan Product of $41.68 billion in 2004, Kansas City's (Missouri side only) economy makes up 20.5% of the Gross State Product of Missouri. In 2014. Kansas City was ranked as the number six city for real estate investment.

 

"

 

View Our Freight Factoring YouTube Videos For More Information

 

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:

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.

 

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

 

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

 

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

 

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

 

 

"

Since the mid 1980s Bishop Truck & Haul have been successfully running their freight business. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Bishop Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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 to a crawl

 

. And worse yet, Bishop 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. Spring changed to summer, summer changed to fall, and the CEO of Bishop, Andre Fletcher, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing 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. 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 Andre Fletcher to have some very restless nights. Andre was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. In the evenings he would discuss his concerns with his wife, Agnes, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Andre would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But 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 Andre. ""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."" Agnes would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Agnes was trying so hard to support her husband in these worrying times, while Andre was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Andre strolled into his office and was determined to sit down and make every phone call to every client who had owed Bishop 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. A waste of time - a waste of money - he had the best intentions, but all the while Andre was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Lydiaerley knocked at his door.

 

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

 

""Of course Lydia, please come in."" Andre leaned back in his chair and looked expectantly at Lydiaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Andre."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Lydiaerley asked.""It does sound vaguely familiar. What is it?"" he said.""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?"" Andre 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. 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�s a broad view.""I see,� Andre said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. We come to an agreement and the funding starts pouring out.�Andre was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Lydia - it just sounds too good to be true"", Andre said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Andre: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Andre,"" she drew a circle around a paragraph on the document 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. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Andre.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Andre thought about this and agreed with Lydiaerley. The customers who were in debt to Bishop Truck & Haul were professional resources of the company, but they were also long-standing friends. Andre wasn't prepared to lose these relationships just because they were having financial issues at the moment. Andre 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. 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 Lydia, thank you."" Lydia nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Andre sat behind his desk and looked over the details Lydia had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Bishop Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Bishop could receive up to fifty-percent cash advances upon load pick-ups. Andre was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Wayne the good news,"" Andre muttered to himself.His son-in-law Wayne had liked the idea of Bishop 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. Andre knew then what struggles Wayne would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Bishop was hurting, a little guy like Wayne was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Andre was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Andre found himself beginning to dig his way out of the hole his delinquent account holders 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. Andre recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Andre hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Kansas City is one of ten regional office cities for the United States Government. The U.S. Government is the largest employer in the Kansas City metro area, with more than 146 federal agencies maintaining a presence. The Internal Revenue Service maintains a large service center in Kansas City that is nearly 1,400,000 square feet (130,000 m2). The IRS facility is one of only two facilities in the nation to process paper returns. The IRS has approximately 2,700 full-time employees in Kansas City and upwards of 4,000 employees during peak tax season with the addition of temporary employees. The General Services Administration has more than 800 employees in Kansas City, with most located at the Bannister Federal Complex in South Kansas City. The Bannister Complex is also home to the Kansas City Plant, which is a National Nuclear Security Administration facility operated by Honeywell. Honeywell employs nearly 2,700 at the Kansas City Plant, which produces and assembles 85 percent of the non-nuclear components of the United States nuclear bomb arsenal. The Social Security Administration has more than 1,700 employees in the Kansas City area, with more than 1,200 located at its Mid-America Program Service Center (MAMPSC) in downtown Kansas City. Company operates a large manufacturing facility just outside of Kansas City in Claycomo at the City Assembly Plant, which currently builds the F-150. It has previously assembled the Of late, it has been developing some academic and economic institutions related to animal health sciences, an effort most recently bolstered by the selection of Manhattan, Kansas, at one end of the Kansas City Animal Health Corridor, as the site for the National Bio and Agro-Defense Facility, which is tasked, among other things, to research animal-related diseases.Numerous agriculture companies operate out of the city. Dairy Farmers of America, the largest Dairy Co-op in the United States is located here. Kansas City Board of Trade is the principal trading Exchange for hard red winter wheat � the principal ingredient of bread.Tnew oblong headquarters in downtown Kansas CityThe business community is serviced by two major business magazines, the Kansas City Business Journal (published weekly) and Ingram's Magazine (published monthly), as well as numerous other smaller publications, including a local society journal, the Independent (published weekly). Kansas City is literally ""on the money."" Bills issued by the Federal Reserve Bank of Kansas City are marked the letter ""J"" and/or number ""10."" The single dollar bills have Kansas City's name on them. The Kansas City Federal Reserve built a new bank building that opened in 2008 and relocated near Union Station. Missouri is the only state to have two of the 12 Federal Reserve Bank headquarters (St. Louis also has a headquarters). Kansas City's effort to get the bank was helped by former Kansas City mayor who as senator broke a tie to get the Federal Reserve Act passed.The national headquarters for the Veterans of Foreign Wars is headquartered just south of Downtown Kansas City.With a Gross Metropolitan Product of $41.68 billion in 2004, Kansas City's (Missouri side only) economy makes up 20.5% of the Gross State Product of Missouri. In 2014. Kansas City was ranked as the number six city for real estate investment.

 

"

 

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.

 

 

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Kent Cook asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Kent Cook 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 Charlie. He named his business Perry Trucking, named after Reginald and Alex, his two grandfathers. They had both been hardworking men, and had done a lot to make Kent the same.Disaster had struck half a year ago, when two trucks in Charlie�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 Charlie'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.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Kent 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.And that's why he found himself across the desk from this woman. Kent knew she was employed by a Factoring company and that her name was Amber. 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 is really not a loan at all: we actually buy 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.Kent agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Amber nodded. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Amber said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Kent filled the form out, with Amber available to help him if he needed it. The completed profile gave Amber and her company all the information they needed on Charlie'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. Listening as Kent filled out his form, Amber was pretty sure he was a perfect candidate for factoring.Amber took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Charlie's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Kent walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Amber and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Kent couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. 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 Perry Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Charlie's eyes opened, he sat forward in his chair and turned on his computer. 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

The reason why Truck Firms Use Factoring Firms.

 

As the owner of your own company, you may perhaps be much more than mindful already of the challenge in making certain that cash flow matters do not become a dilemma down the line. After all, the most unfortunate thing that can possibly come about for your business is to find yourself dragged in a long and tough situation that leaves you forever searching for the resources you need to have on an continuous basis.

 

For any kind of firm in this scenario, the complication can come for waiting for work to clear up and actually be brought in into your balance. Invoices, checks, and the like can take some time to actually to beprocessed which can easily leave you with temporary cash flow dilemmas. The good news is, there are approaches out there for businesses to check out-- and one of these is factoring firms.

 

Factoring companies will, in substitution for your bill of sales, offer you with the cash right now so that you do not need to fret about the waiting period that could make paying the expenses and purchasing materialsmore troublesome. With this form of arrangement, invoice factoring can become tremendously helpful for lots of firms who need to get out of a money pitfall which they have found themselves in.

 

Because, depending on the size of the project, it can take up to 60 days for several establishments to get paid out then it is very important to cover your own back and definitely not leave yourself funds short to settle the monthly bills. After all, how many enterprises possess two months cash flow just lying there to pay for all their costs until they earn?

 

This is most especially true of truck firms. They usually take care of good deals of statements which means a notable volume of collection time demands business owner themselves. Trying to get paid off promptly can become an extraordinary headache and this is the key reasons why you work with trucking factoring agencies who are glad to help out truckers mainly.

 

As we all understand, trucking is an unbelievably huge business with numerous organizations out there employing hundreds of drivers. Unfortunately, several of these drivers end up in finances problems due to the fact that they are still anticipating work from six weeks previously to actually pay them. When this is the scenario for a trucking organization, turning to factoring firms for aid maybe the most ideal option left.

 

This implies that a trucking organization can provide the wages of the workers, keep all the trucks filled with fuel and continue to escalate, grow and expand without always waiting for the funds which is taking too long to come in. Trucking Firms functioning without a factoring system put in place are leaving themselves at substantial hazard, as competitions cash out promptly and continue to grow.

 

There's genuinely nothing to be troubled about when it comes to utilizing a Factoring establishment-- they usually are not like a bank or a person who is going to leave you with a large stack of financial debt to pay back. You give them legitimate invoices from job you have already finished , you are only speeding the repayment process.

 

In the United States, where truck agencies develop, factoring establishments are not considered taking on loan in any capacity. This confidential deal then enables both groups to profit and take pleasure in a convenient future-- it provides the factoring agency a guaranteed resource of revenue to add to the list and it gives the trucking company the required cash that they worked hard to earn.

 

The trucking establishment gives their statements to the factoring agency. The trucking factoring business then collect the payment amounts from the trucking company's clients. Factoring has been in existence for centuries and has been used for long times by lots of diverse business sectors-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you deal with, it signifies that you are receiving the money today and can actually begin setting the money to do work.

 

After all, an IOU or an invoice is certainly not going to finance bills, is it? For trucking agencies when the hard earned cash can be excellent one day and gone the next, it is up to the drivers to work prudently and to ensure they are leaving themselves with a substantial volume of time and finance to get through the week till they are handed over again.

 

So the next occasion your trucking establishment is bearing some temporary cash flow problems and you are investing way too much time chasing inactive paying customers, why not start considering using a factoring companies as a way to get your finances and give yourself a more pleasant future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

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

 

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

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

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Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines

 

 

 

 

 

Philadelphia

 

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