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Do Your Receivables Turn as Quickly as You Would Like -
Our Invoice Factoring Company
Can Give
Your Trucking Company
The Cash Your Company Needs

San Antonio Factoring Companies

and San-Antonio-Factoring-Companies.freelandcustom.com.

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For The Business Who Wants To Look Better - Pick 

An Accounts Receivable Factoring Company Instead Of A Typical Bank Funding

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

 

You might have discovered factoring but your company may mistake exactly what it is or more notably exactly what it might do for your business. Staffing Factoring also known as accounts receivable funding is a kind of asset based financing that can boost a business' short-term cash flow. It is not a loan; no debt obligation is taken on by factoring ,and the financing is unrestricted. Factoring Industry Invoice Trucking Companies in Factoring Receivables Rates San Antonio Factoring Companies at Freelandcustom.com- offering factoring for trucking packages san-antonio-factoring-companies

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Connecticut

Factoring Industry Invoice Trucking Companies

As all of us know, trucking is an exceptionally enormous industry with many organizations out there hiring hundreds of drivers. Regretfully, several of these drivers land up in finances troubles because they are still waiting for work from six weeks earlier to actually pay them. When this is the case for a trucking company, choosing factoring companies for reinforcement could be the most ideal alternative left.

 

 

Factoringloan.Org

Best Trucking Factoring Company

Factoring firms will, in substitution for your bill of sales, supply you with the money asap to ensure you don't have to stress over the lingering period which could make paying out the bills and purchasing toolsmore tough. With this style of arrangement, invoice factoring can end up being incredibly useful for lots of establishments who need to get out of a cash ploy which they have discovered themselves in.

 

 



Receivablefactoring.Co.Uk

 

 

 

Truck Factoring Definition

As all of us know, trucking is an exceptionally enormous industry with many organizations out there hiring hundreds of drivers. Regretfully, several of these drivers land up in finances troubles because they are still waiting for work from six weeks earlier to actually pay them. When this is the case for a trucking company, choosing factoring companies for reinforcement could be the most ideal alternative left.

 

 



Receivablefactoring.Co.Uk

Accounts Receivable Financing Companies

 

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow. Exactly what is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial backbone of many of America's most effective businesses. Why is this ironic ? Because factoring is not instructed in business colleges, is rarely discussed in company strategies and is relatively unidentified to bulk of most of American business individuals.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Accounts Receivable Factoring has actually been around for countless years. Receivable Funding Companies are investors who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a large percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest definition of the word, these large customer finance companies are truly simply big FACTORING Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not pay until you are ready.

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

Commercial Factoring provides the ways for a manufacturer to replenish stock and make more items to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a money management device for producers: Practically any type business can benefit from Accounts Receivable Factoring. Generally, a business that extends credit will have 10 to 20 percent of its annual sales tied up 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 expense or today s payroll with a customer s invoice, but you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a fast and easy process. The factoring company purchases the invoice at a discount, usually a couple of portion points less than the stated value of the invoice.

http://Nursestaffingagency.Org

 

accounts receivable financing calculator

 

San Antonio has a diversified economy with an approximately $96.8 billion metropolitan GDP, ranking 4th among Texas metropolitan areas and 38th in the United States. San Antonio's economy is focused primarily within military, health care, government civil service, financial services, oil and gas and tourism sectors. Within the past twenty years, San Antonio has become a significant location for American-based call centers and has added a significant manufacturing sector centered around automobiles.Located about 10 miles northwest of Downtown is the Medical Center, which is a conglomerate of various hospitals, clinics, and research (see Southwest Research Institute) and higher educational institutions. The city is also home to one of the largest military concentrations in the United States. The defense industry in San Antonio employs over 89,000 and provides a $5.25 billion impact to the city's economy.Over twenty million tourists visit the city and its attractions every year, contributing substantially to the city's economy, primarily due to The Alamo and Riverwalk. The Convention Center alone hosts more than 300 events each year with over 750,000 convention delegates from around the world. Tourism employs 94,000 citizens and makes an economic impact of over $10.7 billion in the local economy as revealed in the Economic Impact Study conducted every two years by the San Antonio Tourism Council and the research team. Tourism also brings new annual revenues to the City of San Antonio and other governmental entities with the hotel & motel tax, sales taxes and other revenues from hospitality agreements and contracts. This number exceeded over $300 million in 2012date=March 2014.San Antonio is home to six Fortune 500 companies: Inc.. -B, the 14th largest private company in the United States is also headquartered in San Antonio. Other companies headquartered in San Antonio include:In 2013, San Antonio ranked No. 11 on ' list of the Best Places for Business and Careers, boasting a ranking of 9th best market for job growth.

 

 

 

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Connecticut

 

The U.s. Trucking Organization
mentions that there are about
200,000 work with truck
firms and
300,000 private providers trucking
companies accredited to
run in the States that transported,
according to their most current data of millions
items, materials and
standard materials .
There are numerous typical
providers either going solo or in
groups on our country
roadways transporting these
vital products to our
shops, manufacturing facilities and ports.

Plus  truck factoring
companies help
several of them and offer their
receivable loan services
countrywide counting
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 Antonio Factoring Companies

 

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

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.

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

 

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.

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

 

EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

 

 

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"

�So It is not a loan?� asked Michael Jackson, reclining back into his chair and crossing his legs. The woman sitting across the desk from Michael smiled at him, shaking her head.�Not quite,� she stated.Michael 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 Kurt. He named his business Morris Trucking, named after Harvey and Peter, his two grandfathers. Both of these men had been very hardworking and had set a great example for Kurt.Six months ago disaster struck Kurt'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 Kurt'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 Michael 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Michael was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Her name was Annette and she worked for a factoring company. Michael had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.Annette explained. �it is really not a loan at all: we actually buy your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Michael nodded. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Annette smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Annette said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Michael filled the form out, with Annette available to help him if he needed it. The completed profile gave Annette and her company all the information they needed on Kurt's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Michael completed his form, Annette listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Annette took it and slid it into her briefcase. She then stood, reached across the desk and shook Kurt�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Michael walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Annette though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.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 wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. 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 he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Morris Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. 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 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. Kurt's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

 

More Factoring Trucking Receivables -Articles

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Trucking Factoring Companies Reviews

 

"

Richards Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Richards Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Cash was flowing and times were good for all.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. And worse yet, Richards had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Richards, Ben Reynolds, 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 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Richards hadn't gone elsewhere. The had just gone!.The situation looked dire to Ben Reynolds. 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, Wilma, 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 ask.Ben would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Ben. ""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."" All Wilma could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Ben knew very well that Wilma 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 Ben walked into his office with a spring in his step, determined to call each and every client who owed money to Richards Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ben 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, Ben 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 Mariaerley knocked at his door.

 

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

 

""Of course Maria, please come in."" Ben leaned back in his chair and looked expectantly at Mariaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ben."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Ben interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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.""Ben replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Ben leaned forward and reviewed the paperwork closely.""I do not know, Maria - it just sounds too good to be true"", Ben said quietly.""Now, now, I know, I thought the same thing. But think about it, Ben: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Ben,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Ben.""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. 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,"" said Ben.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Ben thought about this and agreed with Mariaerley. The customers who were in debt to Richards Truck & Haul were professional resources of the company, but they were also long-standing friends. Ben wasn't prepared to lose these relationships just because they were having financial issues at the moment. Ben knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. 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 Maria, and thankyou."" Maria nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Ben stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Richards 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. Ben 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 Victor the good news,"" muttered Ben to himself.Ben's son-in-law, Victor, loved the idea behind Richards and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Ben knew the struggles Victor would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Richards was hurting, a little guy like Victor was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Ben 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, Ben 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 used that time to refocus their efforts in being competitive in new territories. Ben looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Ben hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

 

 

 

 

 

More My Company has 9 New Products - Imagine-Articles

 

 

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Factoring Services For Trucking Companies

 

The reason why Truck Firms Utilize Factoring Companies.

 

As the operator of your own firm, you may perhaps be more than mindful already of the hardship in making certain that capital concerns do not become a difficulty down the line. After all, the toughest thing that can possibly take place for your company is to find yourself swept up in a long and perplexing situation that leaves you forever trying to find the resources you necessitate on an continual basis.

 

For any type of enterprise in this situation, the issue 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 beprocessed which could leave you with momentary capital troubles. Thankfully, there are solutions out there for businesses to look into-- and one of these is factoring agencies.

 

Factoring firms will, in substitution for your accounts, grant you with the funds right away to ensure that you do not need to stress over the lingering time span that could make paying off the expenses and acquiring toolsmore hard. With this kind of arrangement, invoice factoring can come to be incredibly useful for countless enterprises who have to avoid a cash pitfall which they have discovered themselves in.

 

For the reason that, depending upon the size of the job, it can take up to 60 days for some firms to get compensated then it is very important to cover your own back and definitely not leave yourself funds short to pay the costs. After all, how many establishments possess two months revenue just lying there to address all their costs until they earn?

 

This is particularly correct of trucking agencies. They often deal with tons of statements which means a huge volume of collection time involves company owner themselves. Striving to get compensated in time can turn into an unbelievable headache and this is the key reasons why you employ truck factoring organizations who are glad to help out truckers particularly.

 

As we all recognize, trucking is an exceptionally massive market with many companies out there employing hundreds of drivers. Unfortunately, numerous of these drivers land up in finances difficulties simply because they are still expecting work from six weeks earlier to actually pay them. When this is the case for a truck agency, depending on factoring providers for reinforcement maybe the best choice left.

 

This means that a trucking business can pay out the paychecks of the staff, keep all the trucks loaded with fuel and continue to go up, develop and expand without constantly waiting for the funds which is taking too prolonged to come in. Trucking Companies working without a factoring program implemented are leaving themselves at substantial risk, as contenders cash out promptly and proceed to expand.

 

There's absolutely not much to be troubled about when it comes to employing a Factoring contractor-- they commonly are not like a banking company or somebody who is going to leave you with a huge mass of personal debt to pay back. You give them legitimate invoices from output you have already completed , you are merely quickening the repayment system.

 

In the United states of America, where truck companies survive, factoring firms are not considered getting a loan in any capacity. This confidential arrangement then lets both parties to make money and indulge in a comfortable future-- it gives the factoring provider a warranted asset of revenue to put into the list and it provides the trucking firm the required money that they sweated to get.

 

The trucking business presents their invoices to the factoring business. The trucking factoring agency then acquire the payments from the trucking company's customers. Factoring has been all around for centuries and has been used for several years by several various markets-- but none more 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 means that you are acquiring the funds today and can actually begin setting the resources to work.

 

Once and for all, an IOU or an invoice is not going to cover overheads, is it? For trucking agencies when the funds can be excellent one day and gone the next, it is up to the drivers to work smartly and to guarantee they are leaving themselves with a notable volume of time and finance to get through the week till they are handed over once again.

 

So the next moment your trucking establishment is enduring some momentary cash flow dilemmas and you are putting in too much time chasing slow paying customers, why not start off looking into employing a factoring businesses as a means to get your finances and give yourself a more convenient future in the eyes of your trucking workers and your bank difference?

 

 

 

 

 

 

 

More Factoring Services For Trucking Companies -Articles

 

 

 

San Antonio Factoring Companies

 

 

 

Recruitmentandstaffing.Net/

 

 

 

Trucking Invoice Factoring Companies

 

"

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

 

More than forty years ago Erik's father had started this business working as an owner-operator and eventually growing Jacobs 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 Erik's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Erik's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Jacobs Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Jacobs Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Erik chuckled, thinking about his father. His father had been against placing 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. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Erik had to really consider what his next step was going to be. 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

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 didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Erik it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Erik because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Jacobs Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Erik stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Erik could actually expand Jacobs Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

 

 

 

 

More Trucking Invoice Factoring Companies -Articles

 

 

 

 

 

 

 

 

San Antonio Factoring Companies

 

 

 

 

 

 

Recruitmentandstaffing.Net/

 

Accounts Receivable Lending Companies

 

Date Published- 2014- 11-18 Transportation Factoring Company

 

"

Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

"
Recruitmentandstaffing.Net/

 

 

 

accounts receivable financing calculator

 

 

More Trucking Invoice Factoring Companies -Articles

 

 

 

"

Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. 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 give loans, and the money you get from the Trucking Factoring company does not put you in debt. 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. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. 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. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

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

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

"

 

Accounts Receivable Financing Companies

 

San Antonio Factoring Companies

 

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