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The Company Who Won the Prize For -
Our Receivable Financing Company
Can Give
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Business Owners! Want Quick Curls? - Choose 

A Factoring Company Instead Of A Regular Bank Financing

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

 

You could have been aware of freight invoice factoring but most people might just mistake exactly what it is or more importantly what it might do for your business. Factoring likewise known as receivables finance is a form of asset based financing that can boost a firm's short-term cash flow. This is not a loan; no debt is assumed by freight bill factoring ,and the funds are unconditional. Freight Broker Factoring Companies in Sale Of Receivable San Jose Factoring Companies at Freelandcustom.com- affording factoring consultants facilities san-jose-factoring-companies

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This implies that a truck organization can provide the wages of the personnel, keep all the trucks topped off with gas and continue to surmount, flourish and expand without constantly waiting for the resources which is taking too prolonged to come in. Trucking Establishments working without a factoring program used are leaving themselves at significant danger, as competitions cash out quickly and continue to develop.

 

 

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Receivable Funding Companies

The key reasons why Trucking Establishments Utilize Factoring Firms.

 

As the operator of your own establishment, you may perhaps be more than aware already of the challenge in making certain that cash flow issues do not become a predicament down the line. After all, the most disappointing thing that can potentially transpire for your company is to find yourself dragged in a long and difficult condition that leaves you forever looking for the money you need to have on an continuing manner.

 

 



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Trucking Factoring Rates

This implies that a truck organization can provide the wages of the personnel, keep all the trucks topped off with gas and continue to surmount, flourish and expand without constantly waiting for the resources which is taking too prolonged to come in. Trucking Establishments working without a factoring program used are leaving themselves at significant danger, as competitions cash out quickly and continue to develop.

 

 



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Accounts Receivable Loans

 

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the process of selling accounts receivable to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the monetary foundation of many of America's most successful businesses. Why is this paradoxical ? Because truck factoring is not instructed in business colleges, is rarely mentioned in company strategies and is relatively unidentified to bulk of most of American business people.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Loan Financing has actually been around for countless years. Receivable Loan Financing Businesses are financiers who pay cash for the right to get the future payments on your invoices. An unpaid 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 solely with business-to-business deals, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these large customer finance business are truly just big Invoice Factoring Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, even though you do not make payment up until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal charges range from 2 to four percent of the sale). The Advantages Receivable Financing can provide many advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a company can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business requirements that can be met with instant  money.

Invoice Factoring provides the ways for a producer to renew stock and make even more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a cash management device for producers: Almost any type business can benefit from Staffing Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a client s invoice, but you can offer that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a quick and easy process. The factoring company purchases the invoice at a price cut, typically a few percentage points less than the stated value of the invoice.

Factoringindustry.Org

 

accounts receivable financing is based on

 

"

The large concentration of high-technology engineering, computer, and microprocessor companies around San Jose has led the area to be known as Silicon Valley. As the largest city in the valley, San Jose has billed itself ""the capital of Silicon Valley."" Area schools such as the University of California, Berkeley, University of California, Santa Cruz, San Jose State University, San Francisco State University, California State University, East Bay, Santa Clara University, and Stan University pump thousands of engineering and computer science graduates into the local economy every year.High economic growth during the tech bubble caused employment, housing prices, and traffic congestion to peak in the late 1990s. As the economy slowed in the early 2000s, employment and traffic congestion diminished somewhat. In the mid-2000s, traffic along major highways again began to worsen as the economy improved. San Jose had 405,000 jobs within its city limits in 2006, and an unemployment rate of 4.6%. In 2000, San Jose residents had the highest median household income of any city in the United States with a population over 300,000, and currently has the highest median income of any U.S. city with over 280,000 people.San Jose lists many companies with 1,000 employees or more, Sizable government employers include the city government, Santa Clara County, and San Jose State University. Cer's United States division has its offices in San Jose. Prior to its closing, Netcom had its headquarters in San Jose.The cost of living in San Jose and the surrounding areas is among the highest in California and the nation. Housing costs are the primary reason for the high cost of living, although the costs in all areas tracked by the ACCRA Cost of Living Index are above the national average. Households in the city limits have the highest disposable income of any city in the U.S. with over 500,000 residents.San Jose residents produce more U.S. patents than any other city. Thirty-five percent of all venture capital funds in the U.S. are invested in San Jose and Silicon Valley companies.In January 2014 Magazine reported that had ranked San Jose-Sunnyvale-Santa Clara metro area as the happiest place to work in the USA. The report cited a large concentration of technology jobs that typically offer a high salary and opportunity for growth, in addition to companies providing ""fun and innovative work environments"" as some of the reasons for the ranking

 

"

 

 

San Jose Factoring Companies

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Georgia

 

The U.s. Truck Association
states that there around
200,000 workers with transportation
firms and
276,000 personal companies trucking
firms licensed to
run in the United States that transported,
according to their most current data of millions
items, materials and
standard materials .
There are numerous common
providers either going solo or in
teams on our country
highways transporting these
important items to our
stores, manufacturingplants and ports.

Also  freight bill factoring
corporations support
countless of them and offer their
receivable loan facilities
nationwide including
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

San Jose Factoring Companies

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

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.

 

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

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

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

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.

 

 

 

Watch Our Freight Factoring Companies Videos For More Information

 

 

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accounts receivable financing is based on

 

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"

�So, this is not a loan?� Eric Powell 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.Eric was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Marshall. He named his business Gomez Trucking, named after Barry and Ted, his two grandfathers. They had both been hardworking men, and had done a lot to make Eric the same.Six months ago disaster struck Marshall's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Eric depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Eric had on hand.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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Eric wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Eric knew she was employed by a Factoring company and that her name was Nancy. 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.Nancy explained. �it is really not a loan at all: we actually buy 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.Eric nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Nancy smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Nancy with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Eric filled the form out, with Nancy available to help him if he needed it. The profile filled Nancy and her company in on Marshall�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Eric completed his form, Nancy listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Nancy took it and slid it into her briefcase. She then stood, reached across the desk and shook Marshall�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Eric walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He 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 Nancy and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. He could feel it all fading away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Gomez Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing 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. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Eric 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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Best Trucking Factoring Company

 

"

Since the mid 1980s Sullivan 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 Sullivan 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. Times were great for everyone, and the cash was flowing.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, Sullivan had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Mike White, CEO of Sullivan felt a chill go down his spine whenever he would look at the weekly A/R 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 things different, or wrong, when it came to collecting overdue 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. The had just gone!.The situation looked dire to Mike White. 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, Dawn, and still find no relief from the worry and frustration.

 

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

 

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

 

After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Rubyerley knocked at his door.

 

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

 

""Sure thing Ruby, come on in."" Mike relaxed back into his chair and looked up at Rubyerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Mike."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Rubyerley asked.""It does sound vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Mike interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Mike said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Leaning forward, Mike studied the documents very closely.""I do not know, Ruby - it just sounds too good to be true"", Mike said quietly.""Now, now, I know, I thought the same thing. 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. And they're flexible Mike,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Mike.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Mike said.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.""Mike thought about this and agreed with Rubyerley. The clients who owed them money were long standing friends and professional resources of Sullivan. They did not want to throw away these relationships because they were having trouble paying their bills now. Mike knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Ruby, and thankyou."" Ruby nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Mike sat behind his desk and looked over the details Ruby had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Sullivan Truck & Haul 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, Sullivan could receive up to fifty-percent cash advances upon load pick-ups. Mike was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Ronald about this,"" Mike muttered to himself.Mike's son-in-law, Ronald, loved the idea behind Sullivan and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. Mike knew then what struggles Ronald would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Sullivan was struggling then the little guys, like Ronald, were going to be in even more trouble.

 

But, maybe the answer for both of them was in freight factoring, and Mike was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Mike found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Mike recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

 

 

 

 

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Freight Forwarding Factoring

 

Reasons why Trucking Companies Use Factoring Firms.

 

As the owner of your own business, you may likely be more than knowledgeable already of the hardship in making certain that capital issues do not become a predicament down the line. After all, the most disappointing thing that can quite possibly take place for your establishment is to find yourself embroiled in a long and complicated circumstance that leaves you forever trying to find the funds you require on an continuous manner.

 

For any sort of business in this position, the complication can come for waiting for work to clear up and actually be provided into your account. Bill of sales, checks, and the like can take some time to actually to be taken care of which can leave you with temporary available resources difficulties. Thank goodness, there are solutions out there for establishments to investigate-- and among these is factoring providers.

 

Factoring agencies will, in trade for your bill of sales, grant you with the money asap to ensure that you do not need to stress over the waiting duration that could make paying the expenses and obtaining toolsmore challenging. With this style of system, invoice factoring can become exceptionally beneficial for a lot of establishments who need to avoid a money pitfall which they have gotten themselves in.

 

Given that, basing on the scale of the work, it can take up to 60 days for a number of enterprises to get paid then it is crucial to take care of your own back and certainly not leave yourself money short to pay the bills. After all, how many establishments possess two months income just occupying there to cover all their bills until they get paid?

 

This is particularly true of trucking companies. They often deal with numbers of accounts which means a notable volume of collection period demands company owner themselves. Striving to get compensated in time can end up being an incredible trouble and this is exactly why you employ truck factoring companies who are pleased to help out truckers primarily.

 

As most of us realize, trucking is an amazingly big industry with many organizations out there hiring hundreds of operators. Regrettably, several of these drivers end up in money dilemmas given that they are still anticipating work from six weeks back to actually compensate them. When this is the situation for a truck agency, resorting to factoring companies for support could be the most recommended alternative left.

 

This signifies that a truck firm can pay the paychecks of the staff, keep all the cars filled with fuel and continue to scale, evolve and expand without consistently waiting for the money which is taking too long to come in. Trucking Enterprises working without a factoring program implemented are leaving themselves at considerable danger, as rivals cash out promptly and proceed to grow.

 

There's genuinely very little to be worried about when it comes to working with a Factoring establishment-- they are not like a financial institution or a person who is going to leave you with a huge mass of personal debt to pay back. You give them genuine invoices from job you have already accomplished , you are merely speeding the payment system.

 

In the Usa, where truck companies do well, factoring enterprises are not considered borrowing in any capacity. This private deal then lets both groups to make money and enjoy a good future-- it gives the factoring business a secured asset of cash flow to include in the list and it gives the trucking business the needed funds that they worked hard to get.

 

The trucking company gives their invoices to the factoring establishment. The trucking factoring agency then acquire the payments from the trucking company's clients. Factoring has been all around for centuries and has been employed for several years by plenty of different business sectors-- but none exceeding so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending upon who you work with, it signifies that you are getting the cash today and can actually begin putting the funds to do work.

 

Once and for all, an IOU or an invoice is not actually going to pay for overheads, is it? For trucking firms when the funds can be good one day and gone the next, it is up to the drivers to work smartly and to make sure they are leaving themselves with a significant volume of time and finance to get through the week up until they are handed over once again.

 

So the next instance your trucking business is bearing some short-term cash flow dilemmas and you are devoting way too much time chasing slow paying clienteles, why not start off considering utilizing a factoring businesses as a method to get your cash and give yourself a more at ease future in the eyes of your trucking staff and your bank dividend?

 

 

 

 

 

 

 

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Freight Factoring Companies For Brokers

 

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

 

More than forty years ago Javier's father had started this business working as an owner-operator and eventually growing Gilbert Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Javier'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 Javier�s hands and he wanted to live to see it in better shape for his sons.

 

To move Gilbert 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 all have families and the usual household bills. 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, Gilbert 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. Javier allowed himself a good hard chuckle. 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.

 

Javier believed a successful man is always thinking of his next step. How would he take Gilbert Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Javier to do his homework. Javier 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?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Javier 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 Gilbert 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, Javier 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. He suddenly realized that, with this new cash flow, he could actually expand Gilbert Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

 

 

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Freight Broker Factoring

 

Date Published- 2014- 08-02 Trucking Factoring Companies Reviews

 

"

Traditional 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see 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 efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

"
Freightfactoring.Co.Uk

 

 

 

accounts receivable financing is based on

 

 

More Freight Factoring Companies For Brokers -Articles

 

 

 

"

Traditional 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. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

As you can see 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 efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

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Accounts Receivable Loans

 

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