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Little Cash Flow Leaks That Keep Companies Poor -
Our Freight Factoring Company
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Thousands Now Play Who Never Thought They Could - Choose 

A Truck�Factoring Company  Instead Of A Typical Bank Funding

Exactly how to Increase Money Flow Without Loaning -Cash Money flow is among the main reasons companies fail.

 

You may well have discovered freight factoring but your company may likely not know exactly what it is or even more significantly exactly what it can possibly do for your company. Accounts Receivable Factoring also referred to as accounts receivable funding is a kind of asset based lending that will increase a firm's short-term cash needs. It is not a loan; no debt obligation is taken on by Staffing Factoring ,and the funds are unconstrained. Discounting Factoring Invoice Companies in Factoring In Business Fort Worth Factoring Companies at Freelandcustom.com- giving accounts receivables funding deals fort-worth-factoring-companies

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Discounting Factoring Invoice Companies

Factoring firms will, in trade for your statements, supply you with the funds now to make sure that you don't need to worry about the lingering time span which could make paying out the bills and purchasing toolsmore challenging. With this kind of system, invoice factoring can come to be exceptionally beneficial for countless enterprises who have to get out of a money lure which they have discovered themselves in.

 

 

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Factoring Loans Companies

As most of us know, trucking is an exceptionally big market with countless firms out there working with hundreds of vehicle drivers. However, plenty of these drivers wind up in finances dilemmas given that they are still anticipating work from six weeks back to actually compensate them. When this is the circumstance for a trucking company, depending on factoring agencies for assistance may be the finest choice left.

 

 



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Invoice Factoring Company Companies

Factoring firms will, in trade for your statements, supply you with the funds now to make sure that you don't need to worry about the lingering time span which could make paying out the bills and purchasing toolsmore challenging. With this kind of system, invoice factoring can come to be exceptionally beneficial for countless enterprises who have to get out of a money lure which they have discovered themselves in.

 

 



Trucking Factoring Companies-Messagecrew.Com

Best Invoice Factoring Company

 

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get financing. Other options are available and you do not have to borrow money. What is truck factoring ? One solution is called truck factoring. Trucking Factoring is the procedure of offering invoices to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary foundation of numerous of America's most successful businesses. Why is this ironic ? Since truck factoring is not taught in business colleges, is seldom mentioned in business strategies and is relatively unidentified to the majority of most of American company people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of companies to grow and succeed. Trucking Factoring has been around for thousands of years. Receivable Funding Companies are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business transactions, a large portion of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these large consumer finance companies are truly simply large Receivable Funding Businesses of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, even though you do not make payment up until you are prepared.

For this service, the credit card business charges Sears a charge (typical common normal fees range from 2 to 4 percent of the sale). The Advantages Receivable Financing can provide numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has currently been provided, a business can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be satisfied with instant  cash.

Trucking Factoring offers the means for a manufacturer to renew stock and make more products to sell: There is no longer a need to wait for earlier sales to be paid. FACTORING is not just a cash management tool for producers: Practically any type business can benefit from Commercial Factoring. 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 how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the money to meet those obligations. Using trucking factoring companies is a quick and easy process. The factoring company purchases the invoice at a price cut, typically a few percentage points less than the face value of the invoice.

http://Freightbills.Org/

 

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Fort Worth, city (1990 pop. 447,619), seat of Tarrant co., N Tex., on the Trinity River 30 mi (48 km) W of Dallas; settled 1843, inc. 1873. An army post was established on the site in 1847, and after the Civil War became an Old West cow town. The first railroad (completed 1876) helped establish Fort Worth as a meatpacking and cattle-shipping point, and it soon also became a center for milling and shipping wheat. In 1919 oil was discovered to the west, and refineries and related installations were built. Fort Worth, which in its rivalry with Dallas calls itself the city ""where the West begins,"" has been financially revitalized since the construction of major industrial parks in the 1980s, and suburban expansion continues. Oil and gas, cattle, and grain remain important, but newer industries, such as aerospace and electronic equipment manufacture, wholesaling and distribution, transportation, communications, and food processing, have led economic development. The airline industry is critical, with both the Dallas�Fort Worth International Airport and Alliance cargo airport in or near the city;is based there.Fort Worth is the seat of Texas Christian Univ., Texas Wesleyan Univ., and a Baptist seminary. The Tarrant County Convention Center, Kimbell Art Museum, Amon Carter Museum, Modern Art Museum of Fort Worth, quadrennial Van Cliburn International Piano Competition, Texas Motor Speedway, Bass Performance Center (in Sundance Square), and the old stockyards are among its visitor attractions.

 

"

 

 

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The United states Truck Organization
specifies that there are about
200,000 truck drivers with freight trucking
businesses and
250,000 personal service providers trucking
companies accredited to
run in America that carried,
according to their latest searchings for billions of
products, supplies and
fundamental materials .
There are several typical
carriers either going solo or in
groups on our nation
highways carrying these
vital products to our
stores, factories and harbors.

Plus  freight bill factoring
companies service
several of them and offer their
receivables financing services
nationwide including
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

Fort Worth Factoring Companies

 

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

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

List of Trucking Companies for Owner/Operators and Company Drivers

 

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.

 

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 Top 50 Trucking Companies list, based on data prepared by 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 Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.

 

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.

 

 

 

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Trucking Factoring Rates

 

"

�So, this is not a loan?� asked Ronnie Willis, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Ronnie 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 Samuel. He named his business Spencer Trucking, named after Brandon and Willard, his two grandfathers. They had both been hardworking men, and had done a lot to make Ronnie the same.Six months ago disaster struck Samuel'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. Ronnie depended on his full fleet, and missing two trucks was devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Ronnie wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Jennie and she worked for a factoring company. Ronnie 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.Jennie 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Ronnie agreed. It sounded perfect - perhaps too good?.Jennie laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Jennie nodded. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Jennie with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Ronnie filled the form out, with Jennie available to help him if he needed it. The profile filled Jennie and her company in on Samuel�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 Ronnie filled out his form, Jennie was pretty sure he was a perfect candidate for factoring.When the form was done Jennie took it and slid it into her briefcase. Standing up, she reached over the desk and shook Samuel's hand. He stood before they shook as well, and then smiled. They said their goodbyes and Ronnie walked her to the door, and then returned to 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 had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Jennie and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.Ronnie couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Spencer Trucking. So he did it. For the second time in his short life he created 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 about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

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, because of factoring, he was sure he wouldn�t have to. Ronnie opened his eyes, sat forward, turned his computer on. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

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Factoring Truck Loads

 

"

Harris Truck and Haul has been in 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, Harris was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed down. And worse yet, Harris had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Harris, Donald Lee, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Harris hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Donald Lee to have some very restless nights. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Helen, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Donald 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 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. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Donald. ""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."" Helen would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Helen was trying so hard to support her husband in these worrying times, while Donald was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Donald strolled into his office and was determined to sit down and make every phone call to every client who had owed Harris money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Donald knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Donald was realising just how much trouble he was in.Poor Donald 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 Donald?"" she queried, standing in the doorway.

 

""Of course Kim, please come in."" Donald relaxed back into his chair and looked up at Kimerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Donald."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.She began, ""Well, it is really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Donald interrupted.""Yes, immediately,"" she continued, ""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. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""I see,� Donald said. �And then what?""Following the completion of their review and once we have 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. The funding commences once we�ve arrived at an agreement.�Donald was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Kim,"" he said.""Now, now, I know, I thought the same thing. But think about it, Donald: 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. They appear to be very flexible, Donald,"" 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. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it 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,"" Donald said.Donald took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Donald thought about this and agreed with Kimerley. The clients who owed them money were long standing friends and professional resources of Harris. Donald wasn't prepared to lose these relationships just because they were having financial issues at the moment. Donald knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Kim, and thankyou."" Kim nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Donald keep the shirt on his back, and possibly hers too.Donald 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 Harris 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, Harris could receive up to fifty-percent cash advances upon load pick-ups. Donald was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Brad about this,"" muttered Donald to himself.His son-in-law Brad had liked the idea of Harris so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Donald knew then what struggles Brad would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Harris was hurting, a little guy like Brad was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Donald 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, Donald found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Donald looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

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Factoring Trucking Receivables

 

The key reasons why Truck Agencies Utilize Factoring Firms.

 

As the manager of your own firm, you may likely be more than mindful already of the challenge in making certain that cash flow matters do not become a dilemma down the line. After all, the most unfortunate thing that can quite possibly take place for your company is to find yourself swept up in a long and difficult situation that leaves you forever searching for the cash you really need on an ongoing basis.

 

For pretty much any business enterprise in this circumstance, the complication can come for waiting for work to lapse and actually be brought in into your balance. Invoices, checks, and the like could take a while to actually to beprocessed which can certainly leave you with short-term available resources difficulties. Luckily, there are opportunities out there for establishments to consider-- and among these is factoring firms.

 

Factoring firms will, in substitution for your bill of sales, provide you with the resources asap to ensure that you do not have to fret about the waiting period that could make paying the bills and getting materialsmore troublesome. With this type of arrangement, invoice factoring can become exceptionally useful for various firms who ought to get out of a cash lure which they have gotten themselves in.

 

Considering that, depending upon the volume of the task, it can take up to 60 days for many enterprises to get compensated then it is important to take care of your own back and definitely not leave yourself cash short to settle the bills. After all, how many establishments possess two months revenue just lying there to handle all their overheads till they get paid?

 

This is particularly true of truck establishments. They tend to deal with numbers of statements which means a huge volume of collection period demands company owner themselves. Attempting to get paid in time can develop into an amazing headache and this is the key reasons why you work with truck factoring companies who are glad to help out truckers mainly.

 

As most of us understand, trucking is an astonishingly huge business with plenty of firms out there working with hundreds of drivers. However, plenty of these drivers end up in finances difficulties for the reason that they are still waiting for work from six weeks back to actually compensate them. When this is the situation for a trucking firm, depending on factoring companies for aid may be the most effective option left.

 

This indicates that a trucking corporation can compensate the salaries of the staff, keep all the cars topped off with gas and continue to scale, grow and expand without constantly waiting for the funds which is taking too lengthy to come in. Trucking Enterprises functioning without a factoring program established are leaving themselves at substantial danger, as competitions cash out rapidly and carry on to broaden.

 

There's genuinely almost nothing to be distressed about when it comes to using a Factoring company-- they typically are not like a banking company or a person who is going to leave you with a big mass of financial debt to repay. You give them legitimate invoices from output you have already completed , you are simply expediting the payment process.

 

In the United States, where trucking enterprises do well, factoring companies are not considered taking on loan in any capacity. This private arrangement then allows both parties to benefit and take pleasure in a comfortable future-- it gives the factoring firm a guaranteed resource of cash flow to put into the list and it supplies the trucking company the needed finances that they sweated to gain.

 

The trucking enterprise presents their statements to the factoring firm. The trucking factoring company then take the installment payments from the trucking company's clients. Factoring has been all around for hundreds of years and has been employed for several years by lots of different fields-- but none exceeding 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 indicates that you are getting the cash today and can actually start putting the resources to perform.

 

Anyway, an IOU or an invoice is certainly not going to finance expenditures, is it? For trucking agencies when the hard earned cash can be very good one day and gone the next, it is up to the drivers to work prudently and to ascertain they are leaving themselves with a substantial quantity of time and finance to get through the week till they are paid again.

 

So the next occasion your trucking company is having some momentary cash flow problems and you are devoting a bit too much time chasing slowly paying clients, why not start looking into employing a factoring businesses as a manner to get your finances and give yourself a more convenient future in the eyes of your trucking staff and your bank difference?

 

 

 

 

 

 

 

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Trucking Factoring Companies Reviews

 

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

 

Carlos�s father had started as an owner-operator and had grown Henderson 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 Carlos's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Carlos's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. 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 Henderson 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. Carlos 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). 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.

 

Carlos believed a successful man is always thinking of his next step. What would be the next step for Henderson 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. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Carlos to do his homework. Carlos had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

However, it all turned out to be very simple. 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. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a 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.

 

It was really refreshing dealing with the factoring people. 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 Carlos because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Henderson Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Carlos 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 Henderson 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 Trucking Factoring Companies Reviews -Articles

 

 

 

 

 

 

 

 

Fort Worth Factoring Companies

 

 

 

 

 

 

www.Stellarspeed.Com

 

Factoring Service Companies

 

Date Published- 2014- 11-21 Trucking Factoring Services

 

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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.

 

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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

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

 

2. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. 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 do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

"
www.Stellarspeed.Com

 

 

 

assigned receivables financing

 

 

More Trucking Factoring Companies Reviews -Articles

 

 

 

"

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.

 

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. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

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

 

2. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. 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 do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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

 

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Best Invoice Factoring Company

 

Fort Worth Factoring Companies

 

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