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How to Swim with The Banks without Being Eaten Alive - Our Accounts Receivable Factoring Company Can Provide
Your Freight Company The Cash Your Company Needs

transportation invoice factoring

best trucking factoring company

factoring trucking receivables

factoring trucking industry

Truck Factoring is beneficial for several reasons. It allows a trucking business to raise money without obtaining new financial obligation. While financial obligation is in some cases essential, most truck businesses would like to raise cash without borrowing money. Financial obligation is dangerous, and when it can not be paid back, assets can be repossessed. If the debt is huge enough, it might even require a freight broker firm out of business.








Imagine Holding Your banker Spellbound for 30 Minutes - Pick A Freight�Invoice Factoring Company  Instead Of A Regular Bank Financing

How to Enhance Cash Flow Without Borrowing -Cash Money flow is among the primary reasons businesses fail.

At one time or another, every business, even effective ones, have experienced poor money flow.

Cash flow does not have to be an issue 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 truck factoring ? One solution is called truck factoring. Truck Factoring is the process of selling accounts receivable to an investor rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial foundation of many of America's most effective businesses. Why is this paradoxical ? Because staffing factoring is not taught in business colleges, is rarely discussed in business strategies and is fairly unidentified to the majority of most of American business individuals.

Yet it is a financial procedure that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. FACTORING has been around for thousands of years. Trucking Factoring Businesses are investors who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance business are really simply large Receivable Loan Financing Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically immediately, even though you do not make payment up until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal fees vary from 2 to 4 percent of the sale). The Benefits Staffing Factoring can offer many advantages to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been provided, a business can factor (sell) its receivables for cash at a small discount off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be met with instant  cash.

Trucking Factoring provides the ways for a producer to renew stock and make more items to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not just a cash management tool for producers: Almost any type company can take advantage of Receivable Funding. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can offer that invoice for the cash to meet those responsibilities. Using trucking factoring companies is a fast and easy procedure. The factor buys the invoice at a price cut, typically a few portion points less than the stated value of the invoice.



Please call our
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1 - 888-239-9162

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Financing Receivable Companies


The U.s. Trucking Association
states that there are about
205,000 workers with truck
businesses and
250,000 private providers trucking
firms certified to
run in the U.S. that transferred,
according to their latest searchings for billions of
items, materials and
fundamental materials .
There are a number of common
providers either going solo or in
teams on our nation
roads transporting these
important items to our
shops, manufacturingplants and harbors.

Furthermore freight bill factoring
corporations benefit
several of them and offer their
receivables financing facilities
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


Financing Receivables sitemap

Receivables Loan Locations


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

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.

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.

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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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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




Stevens Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Stevens Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl


. And worse yet, Stevens 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 Stevens, Francis Chambers, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had 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? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Stevens money had jumped ship and decided to leave him holding the bag.


. 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 Stevens hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Francis Chambers to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Elaine and shake his head in frustration.


""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Francis would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" Francis said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""It's a hard economy. It might be awhile until things get settled up.


""Elaine was trying so hard to support her husband in these worrying times, while Francis was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Francis walked into his office with a spring in his step, determined to call each and every client who owed money to Stevens Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Francis 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. A waste of time - a waste of money - he had the best intentions, but all the while Francis was realising just how much trouble he was in.Poor Francis spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.


""Can I have a word with you Francis?"" she asked standing in the doorway.


""Sure thing Irma, come on in."" Francis relaxed back into his chair and looked up at Irmaerley.""Well Francis, this afternoon I did some research, trying to work out how we're going to get out of this mess."" 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?"" Irmaerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.


So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""""Immediately?"" Francis interrupted.""Yes, immediately,"" she continued, ""It's actually very simple. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.��Francis replied cautiously ""I see - and what happens then?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. The funding commences once we�ve arrived at an agreement.�Francis was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I don't know, Irma - it just sounds too good to be true"", Francis 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. And they're flexible Francis,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Francis.""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. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Francis.Francis took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we're in with these folks who owe us money.""Francis thought about this and agreed with Irmaerley. The customers who were in debt to Stevens Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Francis was very concerned about losing these relationships. Francis knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he didn't handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Irma, thank you."" Irma nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Francis 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 Stevens with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. Francis 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.""Well, I'll have to tell Danny about this,"" muttered Francis to himself.His son-in-law Danny had liked the idea of Stevens 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. Francis knew then what struggles Danny would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Stevens was struggling then the little guys, like Danny, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Francis 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 Francis 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 took that time and refocused effort to offering competitive prices in new territories. Francis 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.




More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Luis Graham let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Luis is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Graham Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.


More than forty years ago Luis's father had started this business working as an owner-operator and eventually growing Graham 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 Luis'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. But now things were different: the company was in Luis's hands and he needed to ensure that this business would be left in great shape for his sons.


To move Graham Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. 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, Graham Trucking looked weak in a very strong market.


He knew what his father would have said - 'wait, take your time before adding new technology'. Luis allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). 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.


Luis knew he was right in his forward thinking. What would be the next step for Graham Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.


He wondered about factoring - was this the answer for him? If he was being honest, he didn't really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.


Luis had to really consider what his next step was going to be. Luis had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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. 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. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing 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. 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. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.


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


Feeling happier now, Luis stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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. He suddenly realized that, with this new cash flow, he could actually expand Graham Trucking Company and who knows, move into Canada, which had always been his dream. 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.






Factoring Company Account Debt Buyer


Cash Receivable


Watch Our Truck Factoring Companies Videos For More Information








Trucking Factoring  Articles

�So, this is not a loan?� asked Todd White, reclining back into his chair and crossing his legs. The woman sitting across the desk from Todd smiled at him, shaking her head.�No, not exactly,� she stated.Todd White owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Fernando. His company was called Stevens Trucking, named after both of his grandfathers, Wesley and Clifford. They had both been hardworking men, and had done a lot to make Todd the same.Disaster had struck half a year ago, when two trucks in Fernando�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Fernando's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Todd wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't 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. Todd knew she was employed by a Factoring company and that her name was Lisa. Todd 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.Lisa 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're 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.Todd nodded. It sounded perfect - perhaps too good?.Lisa laughed. �You look like you don�t believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Lisa nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That's why we do what we do.��In any case, thank you for coming to see me.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Lisa said with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Todd filled the form out, with Lisa available to help him if he needed it. The profile filled Lisa and her company in on Fernando�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Todd filled out his form, Lisa was pretty sure he was a perfect candidate for factoring.When the form was done Lisa took it and slid it into her briefcase. Standing up, she reached over the desk and shook Fernando's hand. He also stood up, and they smiled at each other. They said their goodbyes and Todd 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 Lisa 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. He could feel it all fading away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was 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. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Stevens Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn't want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Fernando's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.





More Trucking Factoring Company Story Articles

Reasons why Trucking Companies Employ Factoring Companies.


As the owner of your ownbusiness enterprise, youmay likely be more thanconscious already of thechallenge in makingcertain thatcapitalmatters do not become apredicament down the line. After all, the worst thing that canin all probabilitycome about for yourenterprise is to find yourself embroiled in a long andperplexingcondition that leaves you foreversearching for the cash younecessitate on ancontinuousmanner.


Forvirtually anybusiness enterprise in thisposition, the problem can come for waiting for work to clear up and actually beprovided into yourbalance.Bill of sales, checks, and the like cantake a while to actually to be taken care of which can leave you withtemporaryavailable resourcesdilemmas.The good news is, there aresolutions out there forcompanies todelve into-- andamong these is factoringfirms.


Factoringproviders will, intrade for yourstatements,give you with theresourcesnowin order that you don't need tofret about thelingeringdurationwhich could makepaying out the bills andacquiringtoolsmorecomplicated. With thiskind ofarrangement, invoice factoring canend up beingextraordinarilypractical forseveral businesses who need toavoid amoneylure which they havegotten themselves in.


For the reason that,basing on thevolume of theproject, it can take up to 60 days for some businesses to get paid then it's important tocover up your own back and not leave yourselfmoney short tosettle theexpenses. After all, how many businessespossess two monthscash flow justoccupying there topay for all their expensestill theyearn?


This ismost especiallycorrect oftruckestablishments. Theygenerallymanage lots of invoices which means anotablequantity of collection timeconcerns business owner themselves.Seeking to get paid in time caneventually become anextraordinaryinconvenience and this isthe key reasons why youutilize trucking factoringproviders who areglad to help out truckersprimarily.


Asmost of usrecognize, trucking is anremarkablymassivefield witha lot ofagencies out thereworking with hundreds of drivers.However, many of these drivers end up in moneypredicamentsdue to the fact that they are still waiting for work from six weeksin the past to actually pay them. When this is the situation for a truckingorganization,resorting to factoring companies forreinforcementcould be theideal choice left.


This means that atruckcorporation canpay off the wages of thepersonnel, keep all thecars topped off withgas and continue tosurmount,rise and expand without always waiting for theresources which is taking too long to come in. TruckingEnterprises running without a factoring programestablished are leaving themselves at significant risk, as competitors cash outquickly andcarry on todevelop.


There's genuinelyalmost nothing to bedistressed about when it comes toemploying a Factoringbusiness-- theyusually are not like abanking company or somebody who is going to leave you with asubstantialstockpile of debt to pay back. You give them genuine invoices fromjob you have alreadyfinalized , you are merelyspeeding the paymentsystem.


In the United States, where trucking companies thrive, factoringproviders are not consideredaccepting loan of in any capacity. This confidentialarrangement then allows bothgroups tomake money and enjoy a comfortable future-- itprovides the factoringbusiness asecuredresource of income toinclude in the list and itprovides the truckingbusiness the needed cash that theysweated to earn.


The trucking companypresents theirstatements to the factoringenterprise. The trucking factoringagency thentake theinstallment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has beenutilized for many years byseveralvarious industries-- but noneexceeding so than truckers. While youmight possiblylose out on a small part of the money, something like 1-3 % depending on who youteam up with, itsignifies that you arereceiving thefunds today and can actuallybegin putting thefunds tooperate.


Anyway, an IOU or an invoice iscertainly not going tofinanceoverheads, is it? For truckingagencies when theincome can bereally good one day and gone the next, it's up to the drivers to work sensibly and tomake sure that they are leaving themselves with aconsiderablequantity of time and finance to get through the weektill they are paidonce more.


So the nextmoment your truckingcompany isbearing sometemporary cash flowchallenges and you aredevoting too much time chasinginactive payingclienteles, why not startlooking atutilizing a factoringcompanies as a way to get yourfinances and give yourself a morepleasant future in the eyes of your truckingworkers and your bank balance?








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. Once the loan is paid off, you can then apply for another loan if the need arises.


Trucking Factoring Companies


Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. 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.There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.


2.No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it's easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.


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


4.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 don't have to worry about the building up of interest, as every penny in the account is yours to spend on the business.


As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.


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







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