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Don't Even Think About Gpoing To The Bank Without Reading This Report -
Our Invoice Factoring Companies
Can Provide
Your Freight Company
The Money Your Company Needs



factoring trucking business

factoring trucking receivables

factoring trucking business

freight broker factoring companies

Invoice Factoring is helpful for several reasons. It permits a truck firm to raise cash without acquiring new financial obligation. While debt is occasionally essential, most trucking companies would choose to raise money without borrowing cash. Debt is high-risk, and when it cannot be repaid, properties can be repossessed. If the financial obligation is huge enough, it could even compel a trucking firms out of business.

Receivables Mysteriously Disappear from the Books - Pick 

A Receivable Loan C0mpany Instead Of A Regular Bank Financing

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

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

Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called invoice factoring companies. Truck Factoring is the process of offering invoices to a financier instead of waiting to collect the money from the customer. Oh, the Irony- Truck factoring has an ironic distinction: It is the monetary backbone of many of America's most successful companies. Why is this ironic ? Because receivable financing is not instructed in business colleges, is rarely discussed in company plans and is relatively unidentified to bulk of most of American company people.

Yet it is a financial procedure that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. Commercial Factoring has actually been around for thousands of years. Invoice Factoring Businesses are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your client has actually 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 use a form of factoring in their retail deals. Utilizing the purest definition of the word, these large consumer finance business are really just big Truck Factoring Companies of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost immediately, although you do not pay until you are prepared.

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

Invoice Factoring Companies offers the means for a manufacturer to replenish stock and make more products to offer: There is no longer a need to wait for earlier sales to be paid. FACTORING is not simply a cash management tool for producers: Almost any kind company can take advantage of Receivable Financing. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a fast and simple procedure. The factor purchases the invoice at a discount, typically a couple of percentage points less than the face value of the invoice.



Please call our
freight factoring specialists at
1 - 888-239-9162

E-mail Us

or complete the

Trucking Factoring Request Kind


The American Trucking Organization
specifies that there are about
200,000 employees with freight trucking
businesses and
276,000 personal companies trucking
firms certified to
operate in the U.S. that carried,
according to their newest data of millions
products, materials and
standard products .
There are a number of usual
providers either going solo or in
groups on our country
roadways carrying these
vital products to our
shops, factories and harbors.

Furthermoretrucking factoring
companies aid
several of them and offer their
receivable loan services
nationwide counting
including the following states.

: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware,Florida,
Georgia, Hawaii, Idaho State,Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,
Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska,
Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina,
North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina,
South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia,
Wisconsin, and Wyoming



Watch Our Truck Factoring Companies YouTube Videos For More Information


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:

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. 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 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


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.


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.


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.




Arnold Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Arnold was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. 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, Arnold 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, Tim Taylor, CEO of Arnold felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.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? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. 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 Tim Taylor. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Beatrice, and still find no relief from the worry and frustration.


""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Tim 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 on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Tim said. ""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."" All Beatrice could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Tim knew very well that Beatrice was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Tim strolled into his office and was determined to sit down and make every phone call to every client who had owed Arnold money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Tim was realising just how much trouble he was in.Poor Tim spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.


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


""Of course Susan, please come in."" Tim leaned back in his chair and looked expectantly at Susanerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Tim."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it's really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Tim interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.��Tim replied cautiously ""I see - and what happens then?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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.�Leaning forward, Tim studied the documents very closely.""It sounds too good to be true, Susan,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Tim,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.


""""It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Tim.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Tim took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Arnold. Just because they were experiencing difficulties paying their own bills now, Tim was very concerned about losing these relationships. Tim knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he didn't want to lose any more money, but he didn't want to lose business either.""Well, let me think about this tonight Susan, thank you."" Susan nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Tim sat behind his desk and looked over the details Susan had not mentioned in their meeting. What other issues could freight factoring help Arnold with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Arnold 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 Dave the good news,"" muttered Tim to himself.Tim's son-in-law, Dave, loved the idea behind Arnold 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 Tim knew the struggles Dave would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Arnold was struggling then the little guys, like Dave, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Tim 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, Tim found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Tim looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Tim hadn't discovered freight factoring at just the right time, his business may not be operating today.





More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Jorge Olson let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Jorge is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Olson Trucking Company was at a turning point of growth and Jorge had to decide if signing with a factoring company was the right way forward.


Jorge�s father had started as an owner-operator and had grown Olson Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Jorge's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Jorge�s hands and he wanted to live to see it in better shape for his sons.


To move Olson 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 had families and household bills too. 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. Every time he had to turn down a request, Olson Trucking looked weak in a very strong market.


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


Jorge believed a successful man is always thinking of his next step. How would he take Olson 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.


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


Now it was time for Jorge 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! 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. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.


It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jorge because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn't have any problems, nor would they think poorly of Olson 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.


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

�So, this is not a loan?� Anthony Rivera asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Anthony was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Steve. He named his business Day Trucking, named after Jacob and Gene, his two grandfathers. They had both been hardworking men, and had done a lot to make Anthony the same.Disaster had struck half a year ago, when two trucks in Steve�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Anthony 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 Anthony had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.


You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Anthony wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Colleen and she worked for a factoring company. Anthony 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 aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Anthony nodded. It sounded perfect - perhaps too good?.Colleen laughed. �You look like you don�t 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.�Colleen nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.��In any case, thank you for coming to see me.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Colleen with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.


Anthony filled the form out, with Colleen available to help him if he needed it. The profile filled Colleen and her company in on Steve�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Anthony completed his form, Colleen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Colleen took it and slid it into her briefcase. She then stood, reached across the desk and shook Steve�s hand. He stood before they shook as well, and then smiled. Anthony walked Colleen to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Colleen 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.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading 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.Anthony couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Day Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.


Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Anthony opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.





More Trucking Factoring Company Story Articles

Reasons why Trucking Companies Utilize Factoring Firms.


As the manager of your own company, you may likely be much more than conscious already of the difficulty in making sure that cash flow issues do not become a dilemma down the line. Anyway, the most terrible thing that can potentially transpire for your firm is to find yourself swept up in a long and complicated condition that leaves you forever looking for the finances you need to have on an ongoing basis.


For pretty much any business enterprise in this scenario, the complication can come for waiting for work to lapse and actually be provided into your bank account. Bill of sales, checks, and the like can take a long time to actually to be taken care of which can certainly leave you with temporary capital troubles. Thankfully, there are approaches out there for companies to delve into-- and among these is factoring firms.


Factoring companies will, in exchange for your statements, grant you with the money right now in order that you don't need to worry about the lingering period that could make paying out the bills and getting materialsmore tough. With this type of system, invoice factoring can become remarkably valuable for plenty of establishments who ought to get out of a cash trap which they have found themselves in.


Due to the fact that, basing on the size of the job, it can take up to 60 days for several business enterprises to get paid out then it's very important to cover up your own back and not leave yourself cash short to settle the monthly bills. After all, how many enterprises have two months revenue just lying there to pay for all their expenses till they earn?


This is specifically true of truck agencies. They generally manage good deals of statements which means a considerable amount of collection period involves company owner themselves. Attempting to get paid off promptly can end up being an amazing headache and this is exactly why you work with truck factoring organizations who are happy to help out truckers mainly.


As we all realize, trucking is an extremely huge field with a lot of companies out there handling hundreds of drivers. Unfortunately, quite a few of these drivers wind up in cash predicaments simply because they are still anticipating work from six weeks earlier to actually pay them. When this is the case for a truck business, consulting factoring providers for assistance maybe the very best option left.


This means that a trucking corporation can pay off the salaries of the workers, keep all the trucks filled with fuel and continue to go up, evolve and expand without constantly waiting for the funds which is taking too lengthy to come in. Trucking Firms working without a factoring system applied are leaving themselves at notable risk, as contenders cash out fast and go on to expand.


There's absolutely almost nothing to be worried about when it comes to using a Factoring contractor-- they aren't like a financial institution or someone who is going to leave you with a huge mass of debt to pay back. You give them legitimate invoices from output you have already finished , you are only facilitating the repayment system.


In the United States, where truck enterprises do well, factoring agencies are not considered borrowing in any capacity. This confidential agreement then enables both groups to benefit and take pleasure in a good future-- it gives the factoring provider a warranted asset of profit to include in the list and it provides the trucking company the required funds that they sweated to obtain.


The trucking company provides their accounts to the factoring establishment. The trucking factoring company then obtain the payments from the trucking company's customers. Factoring has beenaround for centuries and has been utilized for many years by a lot of varied sectors-- but none exceeding so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you team up with, it indicates that you are obtaining the finances today and can actually begin setting the cash to function.


Once and for all, an IOU or an invoice is not actually going to fund expenditures, is it? For trucking firms when the hard earned cash can be good one day and gone the next, it's up to the drivers to work prudently and to ensure they are leaving themselves with a substantial quantity of time and finance to get through the week up until they are paid for once more.


So the next time your trucking establishment is enduring some momentary capital dilemmas and you are shelling out way too much time chasing sluggish paying clients, why not start taking into consideration utilizing a factoring companies as a manner to get your finances and give yourself a more convenient future in the eyes of your trucking team and your bank dividend?








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. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.


Trucking Factoring Companies


Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once 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


Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.


1. You Won't Incur 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. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.


2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is 'buying' your accounts receivables. 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. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.


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


As you can see, 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. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.


In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.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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