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Six Types of Companies - Which Group Are You In? -
Our Accounts Receivable Factoring Company
Can Give
Your Freight Company
The Money You Want

Grand Prairie Factoring Companies

and Grand-Prairie-Factoring-Companies.freelandcustom.com.

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How To Rob Banks Legally - Select 

A Trucking�Factoring Company  Instead Of A Traditional Bank Financing

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

 

Your Company could have been aware of freight invoice factoring but your company could mistake what it is or much more importantly exactly what it can do for your firm. Factoring also called receivables finance is a form of asset based lending that can enhance a company's short-term cash needs. It is not a loan; no debt obligation is taken on by freight factoring ,and the money is unrestricted. Freight Bill Factoring Companies in Working Cash Flow Grand Prairie Factoring Companies at Freelandcustom.com- offering account receivable factoring packages grand-prairie-factoring-companies

Freelandcustom.com-Grand Prairie Factoring Companies

Nebraska

Freight Bill Factoring Companies

The trucking company gives their statements to the factoring agency. The trucking factoring company then receive the payment amounts from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for many years by numerous varied fields-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you work with, it implies that you are receiving the cash today and can actually begin setting the cash to operate.

 

 

Designbyinc.Com

Account Receivables Financing Companies

The trucking establishment presents their statements to the factoring business. The trucking factoring company then collect the payments from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for long times by plenty of varied business-- but none much more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it means that you are obtaining the cash today and can actually start off putting the money to do work.

 

 



Governmentfactoring.Org

 

 

 

Trucking Factoring Company

The trucking company gives their statements to the factoring agency. The trucking factoring company then receive the payment amounts from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for many years by numerous varied fields-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you work with, it implies that you are receiving the cash today and can actually begin setting the cash to operate.

 

 



Governmentfactoring.Org

Receivables Financing Factoring

 

At one time or another, every company, even effective ones, have experienced bad cash 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 solutions are offered and you do not have to borrow. Exactly what is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of offering accounts receivable to an investor instead of waiting to collect the cash from the client. Oh, the Irony- Trucking factoring has an ironic difference: It is the financial backbone of many of America's most successful companies. Why is this ironic ? Because factoring is not instructed in business colleges, is seldom discussed in business strategies and is fairly unknown to the majority of most of American company people.

Yet it is a financial process that releases up billions of dollars every year, allowing thousands of businesses to grow and prosper. Invoice Factoring has 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 unpaid receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a large portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest meaning of the word, these big customer finance companies are truly just big FACTORING Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, even though you do not make payment until you are prepared.

For this service, the charge card company charges Sears a fee (typical common normal fees vary from two to 4 percent of the sale). The Advantages Receivable Funding can offer numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already been delivered, 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 simply a few of the company requirements that can be met with instant  cash.

Receivable Loan Financing offers the means for a manufacturer to replenish stock and make even more products to sell: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a cash management tool for manufacturers: Almost any type company can benefit from Staffing Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a 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 offer that invoice for the cash to meet those obligations. Using trucking factoring companies is a fast and easy procedure. The factor purchases the invoice at a discount, typically a couple of percentage points less than the stated value of the invoice.

http://Cashflowfactoring.Co.Uk

 

commercial factoring definition

 

Grand Prairie is a city in Dallas, Ellis, and Tarrant counties in the U.S. state of Texas and is a part of the Mid-Cities region in the Dallas�Fort Worth metroplex. Grand Prairie is a suburb of Dallas with a population of 175,396 according to the 2010 census making it the fifteenth most populous city in the state of Texas.[4]According to the city's 2008 Comprehensive Annual Financial Report,[9] the top employers in the city are:

 

 

 

Grand Prairie Factoring Companies

Please call our
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or

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San Antonio Factoring Companies at YKLFactoring.com

 

Nebraska

 

The United states Transportation Association
specifies that there are about
195,000 employees with freight trucking
businesses and
300,000 personal providers trucking
firms licensed to
operate in America that transported,
according to their most current searchings for billions of
items, supplies and
fundamental materials .
There are several common
providers either going solo or in
groups on our nation
roadways carrying these
vital products to our
shops, factories and ports.

Furthermore  trucking factoring
firms aid
many of them and offer their
factoring services
nationally comprising
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

Grand Prairie Factoring Companies

 

View Our Truck Factoring Companies YouTube Videos For More Information

 

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

 

 

 

View Our Freight Factoring Companies Videos For More Information

 

 

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commercial factoring definition

 

Trucking Factoring Companies-Truckingfactoring.Org

 

 

 

Trucking Invoice Factoring Companies

 

"

�So, this is not a loan?� Andre Carter asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Andre smiled at him, shaking her head.�Not quite,� she said.Andre Carter owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Barry. He named his business Olson Trucking, named after Kevin and Wayne, his two grandfathers. Both of these men had been very hardworking and had set a great example for Barry.Disaster had struck half a year ago, when two trucks in Barry�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. Andre depended on his full fleet, and missing two trucks was devastating . In addition, he just did not 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. You could go a month or more before bills were completely paid off. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Andre 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.And that's why he found himself across the desk from this woman. Andre knew she was employed by a Factoring company and that her name was Patsy. Andre 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.She sat there now, and explained. �It�s not a loan, we purchase 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.Andre 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.�Patsy nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Patsy with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Andre filled the form out, with Patsy available to help him if he needed it. The completed profile gave Patsy and her company all the information they needed on Barry'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. Listening as Andre filled out his form, Patsy was pretty sure he was a perfect candidate for factoring.When the form was done Patsy took it and slid it into her briefcase. She then stood, reached across the desk and shook Barry�s hand. He also stood up, and they smiled at each other. Andre walked Patsy to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Patsy and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Andre couldn�t help but think back to when he had first started the 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 he had gotten bored. He wasn't passionate about 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 Olson Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Andre opened his eyes, sat forward, turned his computer on. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

 

More Trucking Invoice Factoring Companies -Articles

Trucking Factoring Companies-Truckingfactoring.Org

 

 

 

Transportation Invoice Factoring

 

"

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

 

. Worse still, it was noticed by Sanders in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Louis Bryant, CEO of Sanders felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not 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 Sanders hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Louis Bryant to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Tammy, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Louis would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Louis said. ""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."" Tammy would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Louis knew very well that Tammy 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 next day Louis strolled into his office and was determined to sit down and make every phone call to every client who had owed Sanders money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Louis was realising just how much trouble he was in.Poor Louis 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.

 

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

 

""Sure thing Marlene, come on in."" Louis leaned back in his chair and looked expectantly at Marleneerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Louis."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Marleneerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Louis interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Louis replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. 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. The funding commences once we�ve arrived at an agreement.�Louis leaned forward and reviewed the paperwork closely.""I do not know, Marlene - it just sounds too good to be true"", Louis said quietly.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Louis,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Louis.""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. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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 Louis.Louis took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Louis took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Sanders. Just because they were experiencing difficulties paying their own bills now, Louis was very concerned about losing these relationships. Louis knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Marlene, thank you."" Marlene nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Louis sat behind his desk and looked over the details Marlene had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Sanders Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Louis was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Louis was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Andy the good news,"" muttered Louis to himself.His son-in-law Andy had liked the idea of Sanders so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. At that time Louis knew the struggles Andy would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Sanders was hurting, a little guy like Andy was about to catch his death. But, an antidote may have been found in freight factoring and Louis was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Louis found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Louis recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

 

 

 

 

More Trucking Invoice Factoring Companies -Articles

 

 

Trucking Factoring Companies-Truckingfactoring.Org

 

 

 

Freight Bill Factoring Companies

 

Precisely why Truck Agencies Employ Factoring Companies.

 

As the operator of your own business enterprise, you may be more than wary already of the difficulty in making certain that cash flow issues do not become a predicament down the line. Anyway, the most horrible thing that can in all probability transpire for your establishment is to find yourself involved in a long and troublesome condition that leaves you forever searching for the money you are in need of on an ongoing basis.

 

For any company in this situation, the trouble can come for waiting for work to lapse and actually be brought in into your account. Statements, checks, and the like could take a while to actually to beprocessed which may leave you with temporary available resources problems. The good news is, there are solutions out there for companies to explore-- and just one of these is factoring agencies.

 

Factoring firms will, in exchange for your invoices, give you with the cash money today to ensure you do not have to worry about the delaying time frame that could make paying the expenses and purchasing toolsmore tough. With this kind of system, invoice factoring can come to be tremendously useful for several businesses who have to get out of a cash lure which they have found themselves in.

 

Because, basing on the volume of the work, it can take up to 60 days for several companies to get compensated then it is vital to cover your own back and definitely not leave yourself cash short to pay the expenses. After all, how many businesses have two months income just occupying there to cover all their expenses until they get paid?

 

This is especially true of truck agencies. They generally deal with good deals of statements which means a significant amount of collection period concerns business owner themselves. Striving to get paid off promptly can turn into an incredible difficulty and this is exactly why you work with trucking factoring providers who are happy to help out truckers mainly.

 

As we all understand, trucking is an incredibly enormous business with countless agencies out there handling hundreds of drivers. However, numerous of these drivers end up in money predicaments simply because they are still expecting work from six weeks back to actually pay them. When this is the case for a trucking agency, depending on factoring firms for aid could be the most effective alternative left.

 

This means that a trucking company can pay the wages of the workers, keep all the cars refilled with gas and continue to surmount, progress and expand without constantly waiting for the resources which is taking too long to come in. Trucking Firms working without a factoring program applied are leaving themselves at substantial hazard, as contenders cash out quickly and go on to expand.

 

There's absolutely nothing at all to be troubled about when it comes to working with a Factoring establishment-- they usually are not like a bank or somebody who is going to leave you with a massive stockpile of liability to repay. You give them authentic invoices from job you have already finished , you are simply speeding the repayment system.

 

In the Usa, where truck establishments do well, factoring establishments are not considered borrowing in any capacity. This confidential settlement then enables both groups to make money and take pleasure in a good future-- it provides the factoring agency a warranted asset of cash flow to include in the list and it provides the trucking company the needed finances that they worked hard to gain.

 

The trucking establishment provides their statements to the factoring agency. The trucking factoring firm then take the payments from the trucking company's customers. Factoring has been in existence for centuries and has been used for long times by several varying fields-- but none more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending upon who you deal with, it signifies that you are receiving the cash today and can actually start setting the resources to operate.

 

After all, an IOU or an invoice is not actually going to finance overheads, is it? For trucking agencies when the funds can be fantastic one day and gone the next, it is up to the vehicle drivers to work sensibly and to guarantee they are leaving themselves with a significant volume of time and money to get through the week until they are compensated once more.

 

So the next instance your trucking company is enduring some short-term cash flow troubles and you are shelling out an excessive amount of time chasing sluggish paying customers, why not begin taking into consideration using a factoring companies as a method to get your money and give yourself a more at ease future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

 

More Freight Bill Factoring Companies -Articles

 

 

 

Grand Prairie Factoring Companies

 

 

 

Trucking Factoring Companies-Truckingfactoring.Org

 

 

 

Freight Factoring Companies For Brokers

 

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Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Terry Morgan just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Terry is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Morgan 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 Terry's father had started this business working as an owner-operator and eventually growing Morgan Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Terry�s mother strapped herself into a cab 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 Terry's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Morgan 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. He knew that turning down these requests made Morgan Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Terry allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Terry knew he was right in his forward thinking. How would he take Morgan Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Terry 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. 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 Terry it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. 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. Factoring was based on the credit of his customers and on their reliability which worked well for Terry 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 think poorly of Morgan 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.

 

Terry stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Morgan 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.

 

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More Freight Factoring Companies For Brokers -Articles

 

 

 

 

 

 

 

 

Grand Prairie Factoring Companies

 

 

 

 

 

 

Trucking Factoring Companies-Truckingfactoring.Org

 

Trucking Factoring Companies Reviews

 

Date Published- 2014- 01-20 Factoring For Trucking Companies

 

"

Traditional Bank Loans

 

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

 

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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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.

 

"
Trucking Factoring Companies-Truckingfactoring.Org

 

 

 

commercial factoring definition

 

 

More Freight Factoring Companies For Brokers -Articles

 

 

 

"

Traditional Bank Loans

 

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

 

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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

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

 

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

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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.

 

"

 

Receivables Financing Factoring

 

Grand Prairie Factoring Companies

 

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