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How To Burn Off Receivables, Hour-by-Hour -
Our Truck Factoring Company
Can Provide
Your Truck Company
The Cash Your Company Needs

San Diego Factoring Companies

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Profits That Lie Hidden In Your Company - Choose 

A Factoring Company Instead Of A Traditional Bank Funding

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

 

Your Company may discovered freight bill factoring but you may well not know what it is or even more notably what it might do for your firm. Freight Bill Factoring likewise called accounts receivable financing is a kind of asset based financing that will boost a business' short-term cash flow. This is not a loan; no debt is assumed by freight brokerage factoring ,and the financing is unconstrained. Account Receivable Finance Companies in Factor Invoices San Diego Factoring Companies at Freelandcustom.com- supplying loans receivables deals san-diego-factoring-companies

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Account Receivable Finance Companies

Given that, relying on the size of the job, it can take up to 60 days for several businesses to get compensated then it's important to take care of your own back and certainly not leave yourself resources short to settle the monthly bills. After all, how many business enterprises possess two months income just lying there to handle all their overheads till they get paid?

 

 

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Trucking Factoring Companies Reviews

Because, relying on the volume of the job, it can take up to 60 days for many business enterprises to get paid out then it's critical to blanket your own back and certainly not leave yourself money short to pay the expenses. After all, how many businesses possess two months income just occupying there to handle all their spendings till they get paid?

 

 



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Small Business Lines Of Credit Companies

Given that, relying on the size of the job, it can take up to 60 days for several businesses to get compensated then it's important to take care of your own back and certainly not leave yourself resources short to settle the monthly bills. After all, how many business enterprises possess two months income just lying there to handle all their overheads till they get paid?

 

 



Usloadsource.Com

Accounts Receivable Financing Rates

 

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

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are offered and you do not have to borrow. Exactly what is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the process of selling invoices to a financier rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of numerous of America's most successful companies. Why is this ironic ? Since staffing factoring is not instructed in business colleges, is seldom mentioned in business plans and is relatively unknown to bulk of most of American company people.

Yet it is a financial process that frees billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Financing has actually been around for thousands of years. FACTORING Businesses are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these big consumer finance companies are really simply big Accounts Receivable Factoring Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, even though you do not make payment until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal fees range from 2 to four percent of the sale). The Benefits Receivable Financing can provide many benefits to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has currently been provided, a business can factor (sell) its receivables for money at a little price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company requirements that can be met with instant  money.

Invoice Factoring offers the ways for a manufacturer to replenish stock and make even more products to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a cash management tool for producers: Almost any type business can take advantage of Receivable Funding. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in invoices at any given time. Think for a minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, but you can offer that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and simple process. The factoring company purchases the invoice at a discount, typically a few percentage points less than the stated value of the invoice.

http://Accountreceivablefactoring.Biz

 

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"

The economy of San Diego is iuenced by its deepwater port, which includes the only major submarine and shipbuilding yards on the West Coast. Several major national defense contractors were started and are headquartered in San Diego, including ]San Diego hosts the largest naval fleet in the world: it was in 2008 was home to 53 ships, over 120 tenant commands, and more than 35,000 sailors, soldiers, Department of Defense civilian employees and contractors. San Diego is home to the California National Guard's 79th Infantry Brigade Combat team. About 5 percent of all civilian jobs in the county are military-related, and 15,000 businesses in San Diego County rely on Department of Defense contracts. F/A-18 Hornet flying over San Diego and the USS John C. StennisMilitary bases in San Diego include US Navy facilities, Marine Corps bases, and Coast Guard stations. Marine Corps institutions in the city of San Diego include Marine Corps Air Station Miramar and Marine Corps Recruit Depot San Diego. The Navy has several institutions in the city, including Naval Base Point Loma, Naval Base San Diego (also known as the 32nd Street Naval Station), Naval Medical Center San Diego (also known as Bob Wilson Naval Hospital), the Space and Naval Warfare Systems Center San Diego, and Space and Naval Warfare Systems Command (""SPAWAR""). Also near San Diego but not within the city limits are Naval Amphibious Base Coronado and Naval Air Station North Island (which operates Naval Auxiliary Landing Facility San Clemente Island, Silver Strand Training Complex, and the Outlying Field Imperial Beach). San Diego is known as the ""birthplace of naval aviation"".The city is ""home to the majority of the U.S. Pacific Fleet's surface combatants, all of the Navy's West Coast amphibious ships and a variety of Coast Guard and Military Sealift Command vessels"". Two Nimitz class supercarriers, (the USS Carl Vinson, and USS Ronald Reagan), five amphibious assault ships, several Los Angeles-class ""fast attack"" submarines, the Hospital Ship USNS Mercy, carrier and submarine tenders, destroyers, cruisers, frigates, and many smaller ships are home-ported there. Four Navy vessels have been named USS San Diego.

 

"

 

 

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The American Trucking Association
states that there are about
205,000 employees with freight trucking
firms and
250,000 personal providers trucking
firms certified to
run in the States that transferred,
according to their most current listings of millions of
items, supplies and
basic materials .
There are a number of typical
carriers either going solo or in
teams on our nation
roadways transferring these
crucial products to our
shops, manufacturing facilities and shipping ports.

Moreover  trucking factoring
businesses benefit
numerous of them and offer their
receivables financing services
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

San Diego Factoring Companies

 

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

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

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

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.

 

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

 

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

 

 

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"

�So It is not a loan?� asked Enrique Owens, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Enrique 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 Zachary. His company was called Miles Trucking, named after both of his grandfathers, Karl and Everett. Both of these men had been very hardworking and had set a great example for Zachary.Six months ago disaster struck Zachary's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Enrique depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Enrique had on hand.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.Enrique wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Bonnie and she worked for a factoring company. Enrique 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 is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Enrique agreed. It sounded perfect - perhaps too good?.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Bonnie smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. 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 Bonnie with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Enrique completed the form, with Bonnie offering advice as needed.

 

The profile filled Bonnie and her company in on Zachary�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Enrique filled out his form, Bonnie was pretty sure he was a perfect candidate for factoring.When the form was done Bonnie took it and slid it into her briefcase. She then stood, reached across the desk and shook Zachary�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Enrique walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Bonnie though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He 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.Enrique couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Miles Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing 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. Zachary's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.

 

"

 

 

 

 

More Factoring Freight Brokers-Articles

Factoring Companies at Businessinvoice.Org

 

 

 

Trucking Factoring Companies Reviews

 

"

Martin 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 heady times from 2002 to 2007, Martin was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Martin 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, George Douglas, CEO of Martin felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Martin money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. The had just gone!.The situation looked dire to George Douglas. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Sandra, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would ask.George would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them 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,"" George said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Sandra could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""George knew very well that Sandra 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 George walked into his office with a spring in his step, determined to call each and every client who owed money to Martin Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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 George was realising just how much trouble he was in.Poor George 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.

 

""George, can I have a word?"" she queried, standing in the doorway.

 

""Of course Hilda, please come in."" George relaxed back into his chair and looked up at Hildaerley.""Well George, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" George interrupted.""Immediately, yes"" she added, ""it is 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. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""George 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.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�George was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Hilda,"" he said.""Now, now, I know, I thought the same thing. But think about it, George: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible George,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""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,"" George said.George took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""George thought about this and agreed with Hildaerley. The customers who were in debt to Martin Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, George was very concerned about losing these relationships. George knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all 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 Hilda, thank you."" Hilda nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.George 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 Martin 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, Martin 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.""I must tell Floyd the good news,"" George muttered to himself.George's son-in-law, Floyd, loved the idea behind Martin 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. George knew then what struggles Floyd would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Martin was struggling then the little guys, like Floyd, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and George was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, George found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. George looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

 

 

 

 

More Transportation Factoring Company -Articles

 

 

Factoring Companies at Businessinvoice.Org

 

 

 

Factoring Trucking Industry

 

The reason why Truck Corporations Use Factoring Companies.

 

As the owner of your own firm, you may perhaps be more than conscious already of the difficulty in making certain that capital matters do not become a problem down the line. After all, the worst thing that can in all probability occur for your establishment is to find yourself dragged in a long and hard situation that leaves you forever trying to find the resources you need on an continuing manner.

 

For virtually any enterprise in this situation, the dilemma can come for waiting for work to clear up and actually be brought in into your bank account. Bill of sales, checks, and the like could take a while to actually to be taken care of which can leave you with momentary capital difficulties. Fortunately, there are alternatives out there for companies to look into-- and among these is factoring firms.

 

Factoring providers will, in substitution for your invoices, provide you with the cash asap in order that you do not need to worry about the delaying duration which could make paying the expenses and acquiring toolsmore challenging. With this kind of arrangement, invoice factoring can end up being extremely practical for countless businesses who need to avoid a money lure which they have discovered themselves in.

 

Due to the fact that, basing on the volume of the task, it can take up to 60 days for a number of establishments to get paid out then it is vital to cover your own back and definitely not leave yourself funds short to pay off the bills. After all, how many enterprises possess two months cash flow just occupying there to address all their costs until they earn?

 

This is particularly correct of trucking establishments. They generally handle good deals of statements which means a substantial quantity of collection period entails business owner themselves. Trying to get compensated promptly can end up being an incredible headache and this is the reason why you employ trucking factoring organizations who are thrilled to help out truckers exclusively.

 

As we all realize, trucking is an extremely enormous field with a lot of companies out there utilizing hundreds of vehicle drivers. Sadly, plenty of these drivers wind up in income difficulties given that they are still awaiting work from six weeks back to actually compensate them. When this is the scenario for a truck organization, resorting to factoring providers for support might be the most ideal option left.

 

This implies that a trucking company can pay out the salaries of the work force, keep all the vehicles loaded with gas and continue to surmount, rise and expand without continually waiting for the finances which is taking too lengthy to come in. Trucking Companies operating without a factoring program applied are leaving themselves at critical hazard, as rivals cash out fast and proceed to expand.

 

There's absolutely almost nothing to be troubled about when it comes to working with a Factoring establishment-- they typically are not like a financial institution or any individual who is going to leave you with a substantial mound of financial obligation to pay back. You give them authentic invoices from job you have already finished , you are simply hastening the payment system.

 

In the United states of America, where truck establishments survive, factoring establishments are not considered taking on loan in any capacity. This private settlement then enables both parties to profit and take pleasure in a convenient future-- it gives the factoring firm a guaranteed resource of revenue to put into the list and it gives the trucking company the needed finances that they sweated to get.

 

The trucking company provides their accounts to the factoring enterprise. The trucking factoring provider then obtain the payments from the trucking company's customers. Factoring has been all around for hundreds of years and has been used for long times by several various 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 on who you deal with, it means that you are getting the cash today and can actually start putting the cash to do work.

 

After all, an IOU or an invoice is not actually going to cover overheads, is it? For trucking companies when the hard earned cash can be great one day and gone the next, it is up to the drivers to work sensibly and to guarantee they are leaving themselves with a considerable volume of time and money to get through the week up until they are compensated again.

 

So the next instance your trucking company is enduring some temporary capital troubles and you are spending a lot of time chasing slowly paying clienteles, why not start thinking of utilizing a factoring businesses as a way to get your money and give yourself a more convenient future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

 

More Factoring Trucking Industry -Articles

 

 

 

San Diego Factoring Companies

 

 

 

Factoring Companies at Businessinvoice.Org

 

 

 

Best Trucking Factoring Company

 

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

 

To move Ford 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. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. He knew that turning down these requests made Ford Trucking look inefficient and weak in what was currently a strong market.

 

His father would have told him to wait and to take his time adding on new technology. Bryan allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Bryan knew he was right in his forward thinking. What would be the next step for Ford Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without 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.

 

Bryan 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Bryan it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. 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 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 Bryan 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 would not have any problems, nor would they think poorly of Ford Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Bryan stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. He suddenly realized that, with this new cash flow, he could actually expand Ford 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 Best Trucking Factoring Company -Articles

 

 

 

 

 

 

 

 

San Diego Factoring Companies

 

 

 

 

 

 

Factoring Companies at Businessinvoice.Org

 

Freight Factoring Companies For Brokers

 

Date Published- 2014- 05-28 Factoring For Trucking

 

"

Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

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

 

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.

 

"
Factoring Companies at Businessinvoice.Org

 

 

 

accounts receivable financing companies

 

 

More Best Trucking Factoring Company -Articles

 

 

 

"

Traditional Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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. You will not Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

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

 

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

 

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.

 

"

 

Accounts Receivable Financing Rates

 

San Diego Factoring Companies

 

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New York

 

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Los Angeles

 

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Houston

 

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Phoenix

 

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San Diego

 

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Dallas

 

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San Jose

 

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Austin

 

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Jacksonville

 

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Indianapolis

 

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San Francisco

 

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Columbus

 

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Fort Worth

 

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Charlotte

 

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Detroit

 

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El Paso

 

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Atlanta

 

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Miami

 

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Orlando

 

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Memphis

 

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Boston

 

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Seattle

 

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Nashville Davidson

 

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Louisville Jefferson

 

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Portland

 

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