Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

Take This One Minute Test - Our Freight Factoring Companies Can Provide
Your Trucking Company The Cash Your Company Needs

factorinvoices.org

freight factoring companies for brokers

factoring for trucking

factoring trucking receivables

transportation factoring solutions

Medium-Size freight businesses, particularly those who have not been in existence for really long, will commonly find it tough to secure a loan. Banks are typically hesitant to provide money to businesses that do not have a great deal of income and assets. They likewise want evidence of the practicality of a company and thus require that many operations, particularly little ones, been around for a certain quantity of time before they are prepared to hand over any cash. Due to the fact that of this, a small company typically has few money producing options when needs occur. One option readily available, but often overlooked, is factoring. This is an exceptional means for a small business to get money.

 

 

 

 

 

 

 

Do Your Receivables Turn as Quickly as You Would Like - Select The Best Factoring Company Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of selling invoices to a financier instead of waiting to collect the cash from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of many of America's most effective companies. Why is this paradoxical ? Because factoring is not taught in business colleges, is rarely discussed in company strategies and is relatively unidentified to bulk of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, allowing countless businesses to grow and prosper. FACTORING has actually been around for countless years. Receivable Loan Funding Companies are investors who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, 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 deals. Utilizing the purest definition of the word, these large consumer finance business are really simply large Truck Factoring Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, although you do not make payment until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges range from 2 to 4 percent of the sale). The Advantages Commercial Factoring can offer numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a business can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be satisfied with instant  money.

Accounts Receivable Factoring provides the means for a manufacturer to replenish 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 simply a cash management device for producers: Practically any kind company can take advantage of Invoice Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, however you can offer that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and easy procedure. The factor purchases the invoice at a price cut, typically a few portion points less than the face value of the invoice.

 

 

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

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

 

 

san-bernardino-factoring-companies

 

The U.s. Trucking Organization
states that there are about
195,000 truck drivers with freight trucking
firms and
276,000 personal providers trucking
companies certified to
run in America that carried,
according to their newest listings of millions of
items, supplies and
fundamental products .
There are numerous usual
carriers either going solo or in
teams on our country
roadways transferring these
vital products to our
shops, factories and ports.

Plus trucking factoring
firms aid
several of them and offer their
accounts receivablesfinancing services
countrywideincluding
including the following states.

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

 

"

San Bernardino is a city located in the Riverside-San Bernardino metropolitan area (sometimes called the ""Inland Empire""). It serves as the county seat of San Bernardino County, California, United States. As one of the Inland Empire's anchor cities, San Bernardino spans 81 square miles (210 km2) on the floor of the San Bernardino Valley, and has a population of 209,924 as of the 2010 census. San Bernardino is the 17th largest city in California, and the 99th largest city in the United States. San Bernardino is home to multiple diplomatic missions for the Inland Empire, being only one of only four California cities with multiple consulates (the three other cities being Los Angeles, San Diego and San Francisco). The governments of Guatemala (opening July 2014) and Mexico have established their consulates in the downtown area of the city.California State University, San Bernardino is located in the northeastern part of the city. The university also hosts the Coussoulis Arena. Other attractions in San Bernardino include ASU Fox Theatre, the McDonald's Museum, which is located on the original site of the world's first McDonald's, California Theatre, the San Bernardino Mountains, and San Manuel Amphitheater, the largest outdoor amphitheater in the United States. In addition, the city is home to the Inland Empire 66ers baseball team, they play their home games at San Manuel Stadium in downtown San Bernardino.In July 2012, San Bernardino became the largest city to that date to choose to file for protection under Chapter 9 of the U.S. Bankruptcy code; this has been superseded by Detroit's filing in July 2013. San Bernardino's case was filed on August 1. San Bernardino is the poorest city of its population size in California, and the second poorest in the US next to Detroit, MichiganGovernment, retail, and service industries dominate the economy of the city of San Bernardino. From 1998 to 2004, San Bernardino's economy grew by 26,217 jobs, a 37% increase, to 97,139. Government was both the largest and the fastest-growing employment sector, reaching close to 20,000 jobs in 2004. Other significant sectors were retail (16,000 jobs) and education (13,200 jobs). The Burlington Northern and Santa Fe Railway intermodal freight transport yard.The city's location close to the Cajon and San Gorgonio passes, and at the junctions of the I-10, I-215, and SR-210 freeways, positions it as an intermodal logistics hub. The city hosts the Burlington Northern and Santa Fe Railway's Intermodal freight transport yard, the Yellow Freight Systems' cross-docking trucking center, and Pacific Motor Trucking. Large warehouses for Kohl's, Mattel, Pep Boys, and Stater Bros. have been developed near the San Bernardino International Airport.Over the last few decades, the city's riverfront district along Hospitality Lane has drawn much of the regional economic development away from the historic downtown of the city so that the area now hosts a full complement of office buildings, big-box retailers, restaurants, and hotels situated around the Santa Ana River.[]The closing of Norton Air Force Base in 1994 resulted in the loss of 10,000 military and civilian jobs and sent San Bernardino's economy into a downturn that has been somewhat offset by more recent growth in the intermodal shipping industry. The jobless rate in the region rose to more than 12 percent during the years immediately after the base closing. As of 2007 households within one mile of the city core had a median income of only $20,480, less than half that of the Inland region as a whole. Over 15 percent of San Bernardino residents are unemployed as of 2012, and over 40 percent are on some form of public assistance. According to the US Census, 34.6 percent of residents live below the poverty level, making San Bernardino the poorest city for its population in California, and the second poorest in the US next to Detroit.Amazon.com has built a new 950,000-square-foot (22-acre) fulfillment warehouse on the south side of the airport, scheduled to open in fall of 2012, promising to create 1,000 new jobs, which will make it one of the city's largest employers

 

"

 

Watch Our Trucking Factoring YouTube Videos For More Information

 

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:

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

 

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

 

 

"

Freeman Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Freeman was a top rated accounts receivable mastermind of 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 down. Worse still, it was noticed by Freeman in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Freeman, Lee Arnold, 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 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Freeman hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Lee Arnold to have some very restless nights. 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. After work he would confide in his wife, Shannon, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Lee would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the 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 know what it is,"" Lee said. ""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."" 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.

 

""Lee knew very well that Shannon was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Lee walked into his office with a spring in his step, determined to call each and every client who owed money to Freeman Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Lee 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 Natalieerley knocked at his door.

 

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

 

""Of course Natalie, please come in."" Lee leaned back in his chair and looked expectantly at Natalieerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Lee."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Natalieerley asked.""It sounds 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.""Lee interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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.""Lee replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Lee leaned forward and reviewed the paperwork closely.""I do not know, Natalie - it just sounds too good to be true"", Lee said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Lee,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Lee.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Lee.Lee took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Lee thought about this and agreed with Natalieerley. The clients who owed them money were long standing friends and professional resources of Freeman. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Natalie, and thankyou."" Natalie nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Lee keep the shirt on his back, and possibly hers too.Lee sat behind his desk and looked over the details Natalie had not mentioned in their meeting. What other issues could freight factoring help Freeman 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. Lee was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Alfred the good news,"" Lee muttered to himself.His son-in-law Alfred had liked the idea of Freeman so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Lee knew the struggles Alfred would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Freeman was hurting, a little guy like Alfred was about to catch his death. But, an antidote may have been found in freight factoring and Lee was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Lee was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Lee looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

"

San Bernardino is a city located in the Riverside-San Bernardino metropolitan area (sometimes called the ""Inland Empire""). It serves as the county seat of San Bernardino County, California, United States. As one of the Inland Empire's anchor cities, San Bernardino spans 81 square miles (210 km2) on the floor of the San Bernardino Valley, and has a population of 209,924 as of the 2010 census. San Bernardino is the 17th largest city in California, and the 99th largest city in the United States. San Bernardino is home to multiple diplomatic missions for the Inland Empire, being only one of only four California cities with multiple consulates (the three other cities being Los Angeles, San Diego and San Francisco). The governments of Guatemala (opening July 2014) and Mexico have established their consulates in the downtown area of the city.California State University, San Bernardino is located in the northeastern part of the city. The university also hosts the Coussoulis Arena. Other attractions in San Bernardino include ASU Fox Theatre, the McDonald's Museum, which is located on the original site of the world's first McDonald's, California Theatre, the San Bernardino Mountains, and San Manuel Amphitheater, the largest outdoor amphitheater in the United States. In addition, the city is home to the Inland Empire 66ers baseball team, they play their home games at San Manuel Stadium in downtown San Bernardino.In July 2012, San Bernardino became the largest city to that date to choose to file for protection under Chapter 9 of the U.S. Bankruptcy code; this has been superseded by Detroit's filing in July 2013. San Bernardino's case was filed on August 1. San Bernardino is the poorest city of its population size in California, and the second poorest in the US next to Detroit, MichiganGovernment, retail, and service industries dominate the economy of the city of San Bernardino. From 1998 to 2004, San Bernardino's economy grew by 26,217 jobs, a 37% increase, to 97,139. Government was both the largest and the fastest-growing employment sector, reaching close to 20,000 jobs in 2004. Other significant sectors were retail (16,000 jobs) and education (13,200 jobs). The Burlington Northern and Santa Fe Railway intermodal freight transport yard.The city's location close to the Cajon and San Gorgonio passes, and at the junctions of the I-10, I-215, and SR-210 freeways, positions it as an intermodal logistics hub. The city hosts the Burlington Northern and Santa Fe Railway's Intermodal freight transport yard, the Yellow Freight Systems' cross-docking trucking center, and Pacific Motor Trucking. Large warehouses for Kohl's, Mattel, Pep Boys, and Stater Bros. have been developed near the San Bernardino International Airport.Over the last few decades, the city's riverfront district along Hospitality Lane has drawn much of the regional economic development away from the historic downtown of the city so that the area now hosts a full complement of office buildings, big-box retailers, restaurants, and hotels situated around the Santa Ana River.[]The closing of Norton Air Force Base in 1994 resulted in the loss of 10,000 military and civilian jobs and sent San Bernardino's economy into a downturn that has been somewhat offset by more recent growth in the intermodal shipping industry. The jobless rate in the region rose to more than 12 percent during the years immediately after the base closing. As of 2007 households within one mile of the city core had a median income of only $20,480, less than half that of the Inland region as a whole. Over 15 percent of San Bernardino residents are unemployed as of 2012, and over 40 percent are on some form of public assistance. According to the US Census, 34.6 percent of residents live below the poverty level, making San Bernardino the poorest city for its population in California, and the second poorest in the US next to Detroit.Amazon.com has built a new 950,000-square-foot (22-acre) fulfillment warehouse on the south side of the airport, scheduled to open in fall of 2012, promising to create 1,000 new jobs, which will make it one of the city's largest employers

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

Christian�s father had started as an owner-operator and had grown Dean 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 Christian'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 Christian�s hands and he wanted to live to see it in better shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Dean Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Christian chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� 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.

 

Christian believed a successful man is always thinking of his next step. What would be the next step for Dean Trucking? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Christian to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It sounded like a great scheme to him.

 

For Christian it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. 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 Christian because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Dean 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.

 

Christian stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Christian could actually expand Dean Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Adrian Austin asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Adrian was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Hugh. He named his business Boyd Trucking, named after Thomas and Alfred, his two grandfathers. They had both been hardworking men, and had done a lot to make Adrian the same.Six months ago disaster struck Hugh'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. The financial security of Hugh's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Adrian had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Adrian was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Michele and she worked for a factoring company. 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.Michele explained. �It�s not a loan, we purchase your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Adrian nodded. It sounded good to him, almost too good.Michele laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Michele nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Michele said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Adrian filled the form out, with Michele available to help him if he needed it. The completed profile gave Michele and her company all the information they needed on Hugh's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Adrian completed his form, Michele listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Michele took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Hugh�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Adrian 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 felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Michele and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.His mind wandered back to the very beginning, when he first started his business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really 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 about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Boyd 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 giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Hugh's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Reasons why Truck Agencies Make use of Factoring Firms.

 

As the manager of your own company, you may likely be much more than perceptive already of the difficulty in making certain that cash flow issues do not become a difficulty down the line. After all, the most disappointing thing that can quite possibly come about for your firm is to find yourself involved in a long and difficult circumstance that leaves you forever trying to find the funds you really need on an on-going basis.

 

For pretty much any business in this case, the complication can come for waiting for work to lapse and actually be paid out into your bank account. Statements, checks, and the like could take some time to actually to beprocessed which can easily leave you with temporary capital issues. Fortunately, there are alternatives out there for firms to delve into-- and one of these is factoring companies.

 

Factoring providers will, in trade for your accounts, supply you with the cash now in order that you do not need to stress over the waiting time frame that could make paying off the expenses and obtaining materialsmore troublesome. With this form of setup, invoice factoring can become exceptionally practical for various firms who ought to get out of a money ploy which they have found themselves in.

 

Given that, depending on the size of the task, it can take up to 60 days for a number of companies to get paid then it is very important to take care of your own back and not leave yourself money short to pay the monthly bills. After all, how many businesses have two months cash flow just occupying there to cover all their bills till they earn?

 

This is primarily true of truck agencies. They generally handle tons of invoices which means a considerable quantity of collection time involves business owner themselves. Attempting to get paid off in time can come to be an amazing struggle and this is the key reasons why you use truck factoring agencies who are thrilled to help out truckers primarily.

 

As most of us know, trucking is an exceptionally massive business with lots of companies out there hiring hundreds of vehicle drivers. Unfortunately, several of these drivers wind up in cash troubles considering that they are still expecting work from six weeks ago to actually pay them. When this is the condition for a trucking firm, turning to factoring firms for solutions might be the finest choice left.

 

This indicates that a truck company can pay off the salaries of the workers, keep all the cars filled with gas and continue to surmount, develop and expand without continually waiting for the finances which is taking too long to come in. Trucking Enterprises functioning without a factoring program put in place are leaving themselves at notable risk, as competitions cash out promptly and continue to broaden.

 

There's absolutely almost nothing to be distressed about when it comes to using a Factoring agency-- they are not like a banking company or any individual who is going to leave you with a big stack of financial debt to repay. You give them authentic invoices from work you have already completed , you are just expediting the payment process.

 

In the United States, where truck firms develop, factoring establishments are not considered taking on loan in any capacity. This confidential arrangement then allows both parties to make money and experience a good future-- it gives the factoring company a warranted asset of earnings to include in the list and it supplies the trucking business the needed cash that they sweated to generate.

 

The trucking establishment bestows their accounts to the factoring agency. The trucking factoring business then take the payments from the trucking company's clients. Factoring has been in existence for centuries and has been utilized for long times by a lot of varying industries-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it means that you are obtaining the finances today and can actually start putting the cash to operate.

 

Once and for all, an IOU or an invoice is not actually going to cover expenditures, is it? For trucking firms when the income can be very good one day and gone the next, it is up to the drivers to work sensibly and to ascertain they are leaving themselves with a significant measure of time and money to get through the week till they are paid once more.

 

So the next occasion your trucking establishment is enduring some momentary capital troubles and you are investing an excessive amount of time chasing slowly paying clienteles, why not start off thinking about utilizing a factoring businesses as a means to get your finances and give yourself a more at ease future in the eyes of your trucking team and your bank dividend?

 

 

 

 

 

 

"

Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. 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.

 

Trucking Factoring Companies

 

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

 

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. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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 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.

 

"

 

 

 

 

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