Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

The Most Expensive Mistake of Your Life - Our Freight Factoring Companies Can Give
Your Trucking Company The Money Your Company Needs

factorinvoices.org

factoring trucking receivables

factoring services for trucking companies

factoring services for trucking companies

trucking factoring

Factoring invoices is beneficial for a number of factors. It permits a truck firm to raise cash without acquiring new debt. While financial obligation is in some cases essential, the majority of trucking firms would prefer to raise money without obtaining cash. Debt is risky, and when it cannot be repaid, assets can be repossessed. If the debt is large enough, it could even force a truck companies out of business.

 

 

 

 

 

 

 

I gave away my receivables - and made more money too - Select A Truck�Factoring Company  Instead Of A Typical Bank Funding

Exactly how to Enhance Cash Flow Without Borrowing -Cash Money flow is one of the main reasons businesses fail.

At one time or another, every company, even successful ones, have experienced poor money flow.

Money flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only locations you can get funding. Other options are offered and you do not have to borrow money. Exactly what is truck factoring ? One option is called trucking factoring. Truck Factoring is the process of offering accounts receivable to a financier rather than waiting to collect the money from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial backbone of numerous of America's most successful businesses. Why is this ironic ? Since accounts receivable factoring is not taught in business colleges, is rarely mentioned in business plans and is relatively unknown to the majority of most of American business individuals.

Yet it is a financial procedure that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Staffing Factoring has been around for thousands of years. Receivable Loan Financing Companies are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a large percentage of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Utilizing the purest meaning of the word, these big consumer finance companies are truly just big Truck Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, although you do not pay up until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal charges vary from two to 4 percent of the sale). The Advantages Commercial Factoring can offer many benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been provided, a company can factor (sell) its receivables for money at a little price cut 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  cash.

Trucking Factoring provides the ways for a manufacturer to replenish stock and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management device for producers: Almost any kind business can benefit from FACTORING. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable 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 expense or this week s payroll with a client s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a quick and simple process. The factor buys the invoice at a discount, typically a couple of portion points less than the face value of the invoice.

 

 

Please call our
truck factoring experts at
1 - 888-239-9162
or

E-mail Us
or complete the
OnLine
Trucking Factoring Request Kind

 

 

colorado-springs-factoring-companies

 

The United states Truck Organization
specifies that there around
200,000 work with transportation
companies and
300,000 personal providers trucking
firms certified to
run in the States that transferred,
according to their most current listings of millions of
products, supplies and
fundamental products .
There are a number of common
carriers either going solo or in
teams on our nation
highways transporting these
important products to our
shops, manufacturingplants and harbors.

Furthermore freight factoring
corporations aid
many of them and offer their
receivables financing services
nationwidecomprising
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

 

"

Colorado Springs is the second-largest city in Colorado, after Denver. It is the seat of El Paso County, making up about three-quarters of the county's population. It is located on the edge of the Rocky Mountains, with Pikes Peak (14,110 ft) towering beside it to the west. To the east begin the Great Plains.The city was founded in 1871. Gen. William Jackson Palmer, a Pennsylvania-born Civil War veteran, came across the scenic spot in his railroad travels and was inspired to begin a new resort community there. The subsequent development of Colorado Springs was iuenced in part by an iux of English tourists later in the 1870s and by the discovery of gold in nearby Cripple Creek in the 1890s. Millionaire businessmen and philanthropists, such as Spencer Penrose, Charles Tutt, and Winfield Scott Stratton, helped to establish the city's infrastructure and shape its popularity as a tourist destination.During World War II, Colorado Springs sold a large amount of land just south of the city to the military. The U.S. Army established Fort Carson as a training facility. The military presence in Colorado Springs continued to grow with the establishment of the U.S. Air Force Academy there in the 1950s, and later, the construction of Peterson Air Force Base, Falcon Air Force Base, and Cheyenne Mountain Air Force Base. The bases are all home to space command centers (with Cheyenne Mountain housing the headquarters for the North American Aerospace Defense Command [NORAD]) and have collectively earned Colorado Springs its national reputation as the leading center for military space operations.The city's economy is still based heavily on tourism, although in more recent years, Colorado Springs has gained a strong foothold in the electronics, high-technology, and manufacturing industries. The city is the headquarters of the U.S. Olympic Committee and Olympic Training Center facility.Colorado Springs is a Home Rule Municipality that is the county seat and most populous city of El Paso County, Colorado, United States. Colorado Springs is located in the east central portion of the state. It is situated on Fountain Creek and is located 60 miles (97 km) south of the Colorado State Capitol in Denver. At 6,035 feet (1,839 m) the city stands over one mile (1.6 km) above sea level, though some areas of the city are significantly higher and lower. Colorado Springs is situated near the base of one of the most famous American mountains, Pikes Peak, rising over 8,000 feet above the city on the eastern edge of the Southern Rocky Mountains. The United States Air Force Academy is located in Colorado Springs. The city is often referred to as ""The Springs.""The city had an estimated population of 439,886 in 2013., making it the second most populous city in the state of Colorado, behind Denver, and the 41st most populous city in the United States, while the Colorado Springs Metropolitan Statistical Area had an estimated population of 678,319 in 2013. The city covers 194.7 square miles (504 km2), making it Colorado's largest city in area. Colorado Springs was selected as the No. 1 Best Big City in ""Best Places to Live"" by Money magazine in 2006, and placed number one in Outside's 2009 list of America's Best Cities

 

"

 

Watch Our Trucking Factoring Companies YouTube Videos For More Information

 

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:

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.

 

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

 

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.

 

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.

 

"

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

 

. Worse still, it was noticed by Graham in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Graham, Luis Curtis, 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 gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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. They had just gone home.This current state-of-affairs was causing Luis Curtis 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, Rita, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Luis would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Luis. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" All Rita could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Rita was trying so hard to support her husband in these worrying times, while Luis was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Luis strolled into his office and was determined to sit down and make every phone call to every client who had owed Graham money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Luis was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Connieerley knocked at his door.

 

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

 

""Of course Connie, please come in."" Luis leaned back in his chair and looked expectantly at Connieerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Luis."" 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 of factoring?"" Connieerley asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Luis interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.""Luis replied cautiously ""I see - and what happens then?""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. There�s a lot of flexibility depending on the business volume and credit histories. 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.�Luis was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I do not know, Connie - it just sounds too good to be true"", Luis said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Luis: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Luis,"" 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.

 

""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" Luis said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Luis 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 Graham. Just because they were experiencing difficulties paying their own bills now, Luis was very concerned about losing these relationships. Luis knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Connie, thank you."" Connie nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Luis keep the shirt on his back, and possibly hers too.Luis stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Graham 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. Luis was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Luis 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 Jeff about this,"" muttered Luis to himself.Luis's son-in-law, Jeff, loved the idea behind Graham 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 Luis knew the struggles Jeff would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Graham was hurting, a little guy like Jeff was about to catch his death. But, an antidote may have been found in freight factoring and Luis was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Luis found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Luis looked back on the dismal months of life before freight factoring and almost shuddered at the thought. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Colorado Springs is the second-largest city in Colorado, after Denver. It is the seat of El Paso County, making up about three-quarters of the county's population. It is located on the edge of the Rocky Mountains, with Pikes Peak (14,110 ft) towering beside it to the west. To the east begin the Great Plains.The city was founded in 1871. Gen. William Jackson Palmer, a Pennsylvania-born Civil War veteran, came across the scenic spot in his railroad travels and was inspired to begin a new resort community there. The subsequent development of Colorado Springs was iuenced in part by an iux of English tourists later in the 1870s and by the discovery of gold in nearby Cripple Creek in the 1890s. Millionaire businessmen and philanthropists, such as Spencer Penrose, Charles Tutt, and Winfield Scott Stratton, helped to establish the city's infrastructure and shape its popularity as a tourist destination.During World War II, Colorado Springs sold a large amount of land just south of the city to the military. The U.S. Army established Fort Carson as a training facility. The military presence in Colorado Springs continued to grow with the establishment of the U.S. Air Force Academy there in the 1950s, and later, the construction of Peterson Air Force Base, Falcon Air Force Base, and Cheyenne Mountain Air Force Base. The bases are all home to space command centers (with Cheyenne Mountain housing the headquarters for the North American Aerospace Defense Command [NORAD]) and have collectively earned Colorado Springs its national reputation as the leading center for military space operations.The city's economy is still based heavily on tourism, although in more recent years, Colorado Springs has gained a strong foothold in the electronics, high-technology, and manufacturing industries. The city is the headquarters of the U.S. Olympic Committee and Olympic Training Center facility.Colorado Springs is a Home Rule Municipality that is the county seat and most populous city of El Paso County, Colorado, United States. Colorado Springs is located in the east central portion of the state. It is situated on Fountain Creek and is located 60 miles (97 km) south of the Colorado State Capitol in Denver. At 6,035 feet (1,839 m) the city stands over one mile (1.6 km) above sea level, though some areas of the city are significantly higher and lower. Colorado Springs is situated near the base of one of the most famous American mountains, Pikes Peak, rising over 8,000 feet above the city on the eastern edge of the Southern Rocky Mountains. The United States Air Force Academy is located in Colorado Springs. The city is often referred to as ""The Springs.""The city had an estimated population of 439,886 in 2013., making it the second most populous city in the state of Colorado, behind Denver, and the 41st most populous city in the United States, while the Colorado Springs Metropolitan Statistical Area had an estimated population of 678,319 in 2013. The city covers 194.7 square miles (504 km2), making it Colorado's largest city in area. Colorado Springs was selected as the No. 1 Best Big City in ""Best Places to Live"" by Money magazine in 2006, and placed number one in Outside's 2009 list of America's Best Cities

 

"

 

More Trucking Factoring Companies Story Articles

"

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

 

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

 

To move Simmons Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Simmons 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. Shawn chuckled, thinking about his father. 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?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Shawn believed a successful man is always thinking of his next step. What would be the next step for Simmons Trucking? And how would he be able to 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? If he was being honest, he did not really understand how it all worked. 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 Shawn to do his homework. Shawn 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?

 

But it turned out to be quite easy. 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

For Shawn it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Shawn because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Simmons 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.

 

Shawn 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 Simmons Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

"

 

 

View Our Freight Factoring Companies Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Mathew Franklin, reclining back into his chair and crossing his legs. The woman sitting across the desk from Mathew smiled at him, shaking her head.�No, not exactly,� she stated.Mathew 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 Derrick. He named his business Barrett Trucking, named after Shane and Leon, his two grandfathers. They had both been hardworking men, and had done a lot to make Mathew the same.Six months ago disaster struck Derrick'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. Mathew 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.Mathew wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Kelly and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Mathew agreed. It sounded perfect - perhaps too good?.Kelly laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Kelly nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That's why we do what we do.""Well, I'm very grateful that you came to see me today.""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 Kelly with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Mathew completed the form, with Kelly offering advice as needed.

 

The profile filled Kelly and her company in on Derrick�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Mathew completed his form, Kelly listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Kelly took it and slid it into her briefcase. Standing up, she reached over the desk and shook Derrick's hand. He also stood up, and they smiled at each other. They said their goodbyes and Mathew walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Kelly 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 wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Mathew couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. His passion didn�t lie with the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Barrett Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But 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 did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Mathew 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 Truck Companies Use Factoring Companies.

 

As the owner of your own business enterprise, you may likely be much more than knowledgeable already of the challenge in making certain that cash flow concerns do not become a difficulty down the line. After all, the most horrible thing that can in all probability occur for your establishment is to find yourself swept up in a long and challenging predicament that leaves you forever trying to find the finances you need to have on an recurring basis.

 

For any sort of company in this position, the dilemma can come for waiting for work to lapse and actually be settled into your bank account. Bill of sales, checks, and the like can take a long time to actually to beprocessed which can easily leave you with temporary cash flow difficulties. Thankfully, there are approaches out there for industries to check out-- and one of these is factoring agencies.

 

Factoring agencies will, in substitution for your accounts, give you with the money immediately so you do not need to worry about the waiting time span that could make paying the expenses and purchasing materialsmore challenging. With this type of system, invoice factoring can end up being incredibly beneficial for countless businesses who have to get out of a cash lure which they have found themselves in.

 

Since, depending on the scale of the project, it can take up to 60 days for several companies to get compensated then it is vital to cover your own back and not leave yourself resources short to pay the bills. After all, how many establishments possess two months income just lying there to handle all their overheads until they earn?

 

This is most notably correct of trucking firms. They often handle lots of accounts which means a serious quantity of collection period entails company owner themselves. Attempting to get compensated promptly can develop into an extraordinary inconvenience and this is exactly why you make use of trucking factoring companies who are pleased to help out truckers particularly.

 

As all of us know, trucking is an astonishingly large industry with a lot of organizations out there hiring hundreds of operators. Unfortunately, many of these drivers wind up in money dilemmas considering that they are still expecting work from six weeks in the past to actually pay them. When this is the situation for a truck company, consulting factoring firms for support might be the best option left.

 

This means that a trucking corporation can compensate the paychecks of the staff, keep all the trucks loaded with fuel and continue to escalate, rise and expand without continually waiting for the resources which is taking too long to come in. Trucking Companies running without a factoring program applied are leaving themselves at significant danger, as contenders cash out promptly and continue to grow.

 

There's honestly nothing at all to be worried about when it comes to using a Factoring establishment-- they typically are not like a bank or someone who is going to leave you with a large stockpile of personal debt to repay. You give them genuine invoices from output you have already accomplished , you are only just speeding up the payment process.

 

In the United States, where trucking companies thrive, factoring companies are not considered getting a loan in any capacity. This private settlement then makes it possible for both parties to benefit and indulge in a comfortable future-- it gives the factoring company a guaranteed asset of revenue to include in the list and it supplies the trucking firm the required finances that they sweated to generate.

 

The trucking enterprise presents their statements to the factoring enterprise. The trucking factoring business then receive the payments from the trucking company's customers. Factoring has been in existence for hundreds of years and has been employed for long times by numerous varied markets-- but none more so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are acquiring the money today and can actually start putting the funds to work.

 

After all, an IOU or an invoice is not actually going to pay for costs, is it? For trucking establishments when the funds can be excellent one day and gone the next, it is up to the drivers to work smartly and to ascertain they are leaving themselves with a substantial measure of time and finance to get through the week up until they are paid once more.

 

So the next instance your trucking business is bearing some short-term capital challenges and you are devoting excessive time chasing sluggish paying customers, why not begin looking at using a factoring businesses as a manner to get your money and give yourself a more comfortable future in the eyes of your trucking personnel 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 is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not offer loans, and you do not 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. 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.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

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

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.

 

2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This 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. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. 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.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.

 

As you can see, 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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.

 

"

 

 

 

 

Factoring Companies by City

New York City

Los Angeles


Chicago


Houston


Philadelphia


Phoenix


San Antonio


San Diego


Dallas


San Jose

Austin


Jacksonville


Indianapolis


San Francisco


Columbus


Fort Worth


Charlotte


Detroit


El Paso


Memphis

 

 

Boston


Seattle


Denver


Washington DC


Nashville-Davidson


Baltimore


Louisville/Jefferson


Portland


Oklahoma City


Milwaukee


Las Vegas


Albuquerque


Tucson


Fresno


Sacramento


Long Beach


Kansas City


Mesa


Virginia Beach


Atlanta

 

Colorado Springs


Raleigh


Omaha


Miami


Oakland


Tulsa


Minneapolis


Cleveland


Wichita


Arlington

 

New Orleans

Bakersfield

Tampa

Honolulu

Anaheim

Aurora

Santa Ana

St. Louis

Riverside

Corpus Christi

Pittsburgh

Lexington Fayette

Anchorage

Stockton

Cincinnati

St. Paul

Toledo


Newark

Greensboro

Plano

Henderson

Lincoln

Buffalo

Fort Wayne

Jersey

Chula Vista

Orlando

St. Petersburg

Norfolk

Chandler

Laredo

Madison

Durham

Lubbock

Winston Salem

Garland

Glendale

Hialeah

Reno

Baton Rouge

Irvine

Chesapeake

Irving

Scottsdale

North Las Vegas

Fremont

Gilbert town

San Bernardino

Boise

Birmingham

Rochester

Richmond

Spokane

Des Moines