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This is Marie Antoinette - Escaping - Our Trucking Factoring Companies Can Provide Your Truck Company The Cash Your Company Needs


at medicalaccountsreceivable.org

and Detroit-Invoice-Factoring-Companies.medicalaccountsreceivable.org.

transportation factoring trucking trucking factoring company factoring truck loads trucking invoice factoring companies

 

Using a Truck Factoring Company is advantageous for a number of factors. It permits a trucking company to raise cash without obtaining new financial obligation. While debt is often needed, most truck businesses would choose to raise money without obtaining money. Financial obligation is dangerous, and when it cannot be paid back, assets can be repossessed. If the debt is big enough, it could even compel a truck companies out of business.

 

How To Burn Off Receivables, Hour-by-Hour - Choose A Truck�Factoring Company  Instead Of A Regular Bank Financing

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

At one time or another, every business, even effective ones, have experienced bad cash flow.

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow money. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of selling accounts receivable to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Truck factoring has an ironic distinction: It is the monetary backbone of numerous of America's most effective businesses. Why is this paradoxical ? Because truck factoring is not taught in business colleges, is rarely discussed in company plans and is fairly unknown to the majority of most of American business people.

Yet it is a financial procedure that frees billions of dollars every year, enabling countless businesses to grow and succeed. Factoring has actually been around for thousands of years. Accounts Receivable Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your customer has actually to pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance companies are truly just large Receivable Funding Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically instantly, although you do not make payment up until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal fees vary from two to 4 percent of the sale). The Benefits Accounts Receivable Factoring can provide many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on an item that has already been provided, a company can factor (sell) its receivables for cash at a little discount off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be met with instant  cash.

Invoice Factoring provides the means for a manufacturer to renew stock and make more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a money management device for producers: Practically any kind company can benefit from Receivable Funding. Generally, a company that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and easy process. The factor buys the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

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The American Truck Organization specifies that there are about 200,000  truck drivers with transportation businesses and 276,000 private providers trucking firms accredited to run in the United States that  transported, according to their newest searchings for billions of  products, materials and basic materials . There are several  usual providers either going solo or in groups on our nation roads carrying these crucial items to our stores, factories and shipping ports.

Plus freight factoring companies aid many of them and offer their factoring facilities countrywide 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

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Receivable loan company Calculator
This calculator will show you how much you will make by using our receivable loan company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our receivable loan company
Enter the principal balance of your receivable loan company
(call your receivable loan company lender and ask for the current payoff amount):
Enter the amount of your monthly receivable loan company payment:
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EveryTruckJob.com 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 andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. 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

 

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

 

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

 

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

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

 

 

 

 

 

About 80,500 people work in downtown Detroit, comprising one-fifth of the city's employment base.[139][140] A number of major corporations are based downtown, including General Motors, Quicken Loans, and Ally Financial. Downtown Detroit's corporate residents also include major technology, insurance, energy, advertising, architecture, and law firms, such as Compuware, Blue Cross Blue Shield, DTE Energy, Lowe Campbell Ewald, Rossetti Architects, and several prominent law firms. Downtown also contains large offices for all of the major nationwide consulting firms-- Deloitte, PricewaterhouseCoopers, and Ernst & Young�as well as large offices for corporations officially based outside the city, like Chrysler, Comerica, and several other banks. In sum, Detroit has a highly concentrated base of financial, automotive, and technology firms, accented by a full range of professional services firms.Thousands more employers work a few miles north of downtown in Detroit's Midtown. Midtown's anchors are the Detroit Medical Center, the city's largest single employer, Wayne State University, and Henry Ford Health System. Midtown is also home to watchmaker Shinola�its headquarters, factory and flagship store�and an array of small and/or startup company's, with a recent uptick in retailing activity.A number of the city's downtown employers are relatively new, as there has been a marked trend of companies moving from satellite suburbs around Metropolitan Detroit into the downtown core. Compuware completed its world headquarters in downtown Detroit in 2003. OnStar, Blue Cross Blue Shield, and HP Enterprise Services have located at the Renaissance Center. PricewaterhouseCoopers Plaza offices are adjacent to Ford Field, and Ernst & Young completed its office building at One Kennedy Square in 2006. Perhaps most prominently, in 2010, Quicken Loans, one of the largest mortgage lenders, relocated its world headquarters and 4,000 employees to downtown Detroit, consolidating its suburban offices, a move that its outspoken CEO Dan Gilbert intended to help revive the historic downtown area.[141] In July 2013, prominent advertising firm Lowe Campbell Ewald announced their move from Warren to Downtown Detroit to a building located adjacent to Ford Field.[142][143]Some Fortune 500 companies headquartered in Detroit include General Motors, Ally Financial, and DTE Energy.[144]In April 2014, the Department of Labor reported the city's unemployment rate at 14.5%.[145]The city of Detroit has made efforts to lure the region's growth by creating a wireless Internet zone, offering many business tax incentives, creating recreational spaces such as the Detroit RiverWalk along the entire Detroit International Riverfront, Campus Martius Park, and greenways such as the Dequindre Cut, and facilitating the building and renovation of residential high-rises in the center city.The city has cleared sections of land while retaining a number of historically significant vacant buildings in order to spur redevelopment;[146] though the city has struggled with finances, it issued bonds in 2008 to provide funding for ongoing work to demolish blighted properties.[82] In 2006, downtown Detroit reported $1.3 billion in restorations and new developments which increased the number of construction jobs in the city.[46] In the decade prior to 2006, downtown Detroit gained more than $15 billion in new investment from private and public sectors.[147] The Westin Book Cadillac Hotel completed a $200-million reconstruction in 2008, and is in Detroit's Washington Boulevard Historic DistrictDespite Detroit's recent financial issues, many developers remain unfazed by the city's problems.[148] Midtown Detroit is one of the most successful areas of Detroit with a residential occupancy rate of 96%.[149] Numerous developments are currently in various stages of construction, including an $82 million reconstruction of the David Whitney Building in downtown Detroit & the Woodward Garden Block Development in Detroit's midtown area.[150]Downtown Detroit's population of young professionals is growing and retail is expanding.[151][152][153] A number of luxury high rises have been built, including Riverfront Towers. The east river development plans include the newly renovated historic Alden Park Towers, and more apartment and condominium developments. This dynamic is luring many younger residents to the city's Downtown, along with Corktown,[154] and the revitalized Midtown and New Center areas.[139][151][152] A 2007 study found that Detroit's new downtown residents are predominantly young professionals (57 percent are ages 25�34, 45 percent have bachelor's degrees, 34 percent have a master's or professional degree).[139][151][155]In July 2012, the U.S. Patent and Trademark Office opened its Elijah J. McCoy Satellite Office in Detroit's Rivertown/Warehouse District as its first location outside Metropolitan Washington, DC.[156]On June 5, 2013, Whole Foods Market opened a new 10 million dollar, 21,000-square-foot market at Woodward and Mack avenues in Midtown, its first store in the city of Detroit. Eight weeks later the CEO of Whole Foods said that the store was exceeding its wildest expectations.[157] On July 25, 2013, Meijer, a midwestern retail chain, opened its first supercenter store in the city of Detroit,[158] a 20 million dollar, 190,000-square-foot store at 8 Mile Road and Woodward in the northern part of the city that is the centerpiece of a new 72 million dollar shopping center named Gateway Plaza.[159] On June 30, 2014, Meijer started construction on its second supercenter store in Detroit. [160] On May 21, 2014 JPMorgan Chase said it was injecting $100 million over five years into the Detroit economy to kick-start projects and provide development funding for employment, residential-development and other community-related programs. It is the largest commitment made to any one city by the nation's biggest bank. Of the $100 million, $50 million will go toward development projects, $25 million will go toward city blight removal, $12.5 million for job training, $7 million for small businesses in the city and, $5.5 million will go toward the M-1 light rail project.[161]Surrounding areas[edit]Main article: Economy of metropolitan DetroitDetroit and the surrounding region constitute a major center of commerce and global trade, most notably as home to America's 'Big Three' automobile companies, General Motors, Ford, and Chrysler. Detroit's six county Metropolitan Statistical Area (MSA) has a population of about 4.3 million and a workforce of about 2.1 million.[162] In May 2012, the Department of Labor reported metropolitan Detroit's unemployment rate at 9.9%.[145][163] The Detroit MSA had a Gross Metropolitan Product (GMP) of $197.7 billion in 2010.[164]Top City EmployersSource: Crain's Detroit Business[165] Rank Company/Organization # 1 Detroit Medical Center 11,497 2 City of Detroit 9,591 3 Quicken Loans 9,192 4 Henry Ford Health System 8,807 5 Detroit Public Schools 6,586 6 U.S. Government 6,308 7 Wayne State University 6,023 8 Chrysler 5,426 9 Blue Cross Blue Shield 5,415 10 General Motors 4,327 11 State of Michigan 3,911 12 DTE Energy 3,700 13 St. John Providence Health System 3,566 14 U.S. Postal Service 2,643 15 Wayne County 2,566 16 MGM Grand Detroit 2,551 17 MotorCity Casino 1,973 18 Compuware 1,912 19 Detroit Diesel 1,685 20 Greektown Casino 1,521 21 Comerica 1,194 22 Deloitte 942 23 Johnson Controls 760 24 PricewaterhouseCoopers 756 25 Ally Financial 715 Distribution of Detroit's Economy.svg Labor force distribution in Detroit by category: Construction Manufacturing Trade, transportation, utilities Information Finance Professional and business services Education and health services Leisure and hospitality Other services Government Firms in the region pursue emerging technologies including biotechnology, nanotechnology, information technology, and hydrogen fuel cell development.Metro Detroit area is one of the leading health care economies in the U.S. according to a 2003 study measuring health care industry components, with the region's hospital sector ranked fourth in the nation.[166] Compuware World Headquarters viewed from Bagley Memorial Fountain on Cadillac SquareCasino gaming plays an important economic role, with Detroit the largest city in the United States to offer casino resort hotels.[167] Caesars Windsor, Canada's largest, complements the MGM Grand Detroit, MotorCity Casino, and Greektown Casino in Detroit. The casino hotels contribute significant tax revenue along with thousands of jobs for residents. Gaming revenues have grown steadily, with Detroit ranked as the fifth largest gambling market in the United States for 2007. When Casino Windsor is included, Detroit's gambling market ranks third or fourth.There are about four thousand factories in the area.[168] The domestic auto industry is primarily headquartered in Metro Detroit.The area is also an important source of engineering job opportunities.[169] A 2004 Border Transportation Partnership study showed that 150,000 jobs in the Windsor-Detroit region and $13 billion in annual production depend on the City of Detroit's international border crossing.[170] One Detroit Center overlooks the city's financial district.A rise in automated manufacturing using robotic technology has created related industries in the area.[171][172]In addition to property taxes, residents pay an income tax rate of 2.50%.[173]Detroit automakers and local manufacturers have made significant restructurings in response to market competition. GM made its initial public offering (IPO) of stock in 2010, after bankruptcy, bailout, and restructuring by the federal government.[174] Domestic automakers reported significant 2010 profits, interpreted by some analysts as indicating the beginning of an industry rebound and an economic recovery for the Detroit area

 

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White 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 White 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 down. And worse yet, White had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Mark Stevens, CEO of White 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 something wrong or different when it came to reaching out to delinquent 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. They couldn't afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of White hadn't gone elsewhere. The had just gone!.To Mark Stevens the situation looked desperate. 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. At night he would speak to his wife Betty and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.Mark would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" said Mark. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Betty would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Mark knew very well that Betty was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Mark walked into his office with a spring in his step, determined to call each and every client who owed money to White Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Mark knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Mark knew that he was in trouble.

 

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

 

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

 

""Of course Dolores, please come in."" Mark leaned back in his chair and looked expectantly at Doloreserely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Mark."" 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?"" Doloreserley asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Mark interrupted ""Immediately?"".""Immediately, yes"" she added, ""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�s a broad view.��I see,� Mark said. �And then what?��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. 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. Once we arrive at a mutual agreement, the funding begins.�Mark leaned forward and reviewed the paperwork closely.""I don't know, Dolores - it just sounds too good to be true"", Mark 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 Mark,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Mark.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. """"That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. It'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,"" Mark said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Mark took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to White Truck & Haul were professional resources of the company, but they were also long-standing friends. Mark wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. If he 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.""Let me go over this tonight Dolores, and thankyou."" Dolores nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Mark keep the shirt on his back, and possibly hers too.Mark stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help White Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, White could receive up to fifty-percent cash advances upon load pick-ups. 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 Todd about this,"" muttered Mark to himself.Mark's son-in-law, Todd, loved the idea behind White and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Mark knew the struggles Todd would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as White was struggling then the little guys, like Todd, were going to be in even more trouble.

 

But, an antidote may have been found in freight factoring and Mark 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 Mark was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Mark 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.

 

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More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Bernard Burns let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Burns 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 Bernard's father had started this business working as an owner-operator and eventually growing Burns 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 Bernard's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Bernard�s hands and he wanted to live to see it in better shape for his sons.

 

To move Burns 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, Burns Trucking looked weak in a very strong market.

 

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

 

Bernard knew he was right in his forward thinking. How would he take Burns 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. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Now it was time for Bernard to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. 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! 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. 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. 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. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Bernard 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 Burns 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.

 

Feeling happier now, Bernard 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. With the capabilities of this new cash flow, Bernard could actually expand Burns Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

 

 

 

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Trucking Factoring  Articles

�So It is not a loan?� asked Ralph Roberts, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she stated.Ralph was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Franklin. He named his business Burke Trucking, named after Melvin and Jack, his two grandfathers. Both of these men had been very hardworking and had set a great example for Franklin.Six months ago disaster struck Franklin's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Ralph depended on his full fleet, and missing two trucks was devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Ralph was an excellent business man, and he certainly hadn't done anything wrong. 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. Ralph knew she was employed by a Factoring company and that her name was Tracy. Ralph 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're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Ralph nodded. It sounded perfect - perhaps too good?.Tracy laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Tracy nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.��Well, I'm very grateful that you came to see me today.��No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Tracy with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Ralph filled the form out, with Tracy available to help him if he needed it. The completed profile gave Tracy and her company all the information they needed on Franklin's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Ralph completed his form, Tracy listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Tracy took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook Franklin's hand. He stood before they shook as well, and then smiled. Ralph walked Tracy to the door where they said 'Goodbye', then he went back into 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 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 Tracy 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 terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Ralph 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 successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Burke 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.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He was concerned that he just didn't 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 wouldn't have to - all because of Factoring. Franklin's eyes opened, he sat forward in his chair and turned on his computer. 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 Factoring Company Story Articles

The key reasons why Trucking Firms Make use of Factoring Companies.

 

As the operator of your own business, you may be more than aware already of the hardship in making certain that capital matters do not become a predicament down the line. After all, the most unfortunate thing that can quite possibly occur for your business is to find yourself dragged in a long and challenging situation that leaves you forever looking for the cash you are in need of on an continuous basis.

 

For any type of business enterprise in this instance, the complication can come for waiting for work to clear up and actually be paid into your balance. Bill of sales, checks, and the like can take some time to actually to beprocessed which can certainly leave you with short-term cash flow issues. Fortunately, there are alternatives out there for enterprises to examine-- and among these is factoring companies.

 

Factoring companies will, in trade for your statements, supply you with the funds today to make sure that you don't need to fret about the lingering time span that could make paying off the bills and purchasing materialsmore hard. With this style of setup, invoice factoring can come to be extremely practical for a lot of businesses who need to avoid a money lure which they have gotten themselves in.

 

Since, depending upon the scale of the task, it can take up to 60 days for many businesses to get compensated then it's very important to cover your own back and definitely not leave yourself funds short to settle the bills. After all, how many companies have two months earnings just occupying there to handle all their spendings until they make money?

 

This is most notably correct of truck agencies. They generally deal with tons of accounts which means a serious volume of collection period demands business owner themselves. Striving to get paid off promptly can end up being an extraordinary struggle and this is exactly why you use truck factoring companies who are thrilled to help out truckers specifically.

 

As most of us realize, trucking is an amazingly massive field with lots of organizations out there handling hundreds of drivers. Regrettably, many of these drivers wind up in money problems due to the fact that they are still expecting work from six weeks earlier to actually compensate them. When this is the scenario for a trucking organization, depending on factoring providers for reinforcement could be the finest alternative left.

 

This means that a truck organization can compensate the paychecks of the people, keep all the trucks refilled with fuel and continue to go up, evolve and expand without continually waiting for the money which is taking too prolonged to come in. Trucking Business enterprises operating without a factoring system implemented are leaving themselves at significant hazard, as contenders cash out promptly and continue to expand.

 

There's genuinely very little to be stressed about when it comes to using a Factoring company-- they aren't like a financial institution or an individual who is going to leave you with a massive stockpile of financial debt to repay. You give them legitimate invoices from work you have already accomplished , you are simply accelerating the repayment process.

 

In the United States, where trucking firms flourish, factoring enterprises are not considered getting a loan in any capacity. This confidential contract then enables both parties to make money and experience a worry-free future-- it provides the factoring company a warranted asset of income to add to the list and it provides the trucking business the needed cash that they worked hard to earn.

 

The trucking enterprise bestows their statements to the factoring establishment. The trucking factoring business then receive the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been utilized for several years by a lot of varied fields-- but none exceeding so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending upon who you work with, it means that you are getting the money today and can actually begin setting the cash to function.

 

Once and for all, an IOU or an invoice is not going to finance spendings, is it? For trucking enterprises when the hard earned cash can be fantastic one day and gone the next, it's up to the drivers to work sensibly and to guarantee they are leaving themselves with a considerable amount of time and finance to get through the week until they are compensated once again.

 

So the next instance your trucking establishment is having some momentary capital problems and you are putting in way too much time chasing slow paying clienteles, why not start off considering utilizing a factoring businesses as a means to get your money and give yourself a more comfortable future in the eyes of your trucking crew and your bank balance?

 

 

 

 

 

 

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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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies 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. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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. There's 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. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So not only are you relieved of those monthly loan payments, but you also 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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Invoice Factoring Companies by City

New York City
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Newark
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Henderson
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Laredo
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Irvine
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