Contact Us Form

or Call Us At 866-593-2195

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

How Much is Your Cash Flow "Tension" Costing Your Company -
Our Largest Factoring Companies
Can Give
Your Freight Company
The Money Your Company Needs

 

 

freight factoring rates

trucking factoring companies reviews

factoring companies for trucking industry

trucking factoring services

Medium-Size freight brokerage companies, specifically those who have actually not been in existence for extremely long, will frequently find it tough to protect a loan. Banks are commonly hesitant to lend cash to businesses that don't have a great deal of income and properties. They also want evidence of the practicality of a business and hence require that many operations, especially small ones, be in company for a particular quantity of time before they are willing to turn over any cash. Because of this, a small business typically has a couple of cash generating options when needs arise. One choice available, but commonly neglected, is receivable Financing. This is an exceptional method for a small company to obtain cash.

The Secrets of Making People Like You Get - Choose 

A Truck�Factoring Company  Instead Of A Regular Bank Funding

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

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

Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow. What is truck factoring ? One solution is called largest factoring companies. Truck Factoring is the procedure of selling invoices to a financier rather than waiting to gather the cash from the customer. Oh, the Irony- Truck factoring has an ironic difference: It is the financial foundation of numerous of America's most effective businesses. Why is this paradoxical ? Since staffing factoring is not taught in business colleges, is rarely mentioned in company strategies and is fairly unknown to bulk of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of businesses to grow and succeed. Truck Factoring has been around for countless years. Accounts Receivable Factoring Businesses 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 customer has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business deals, a large percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Using the purest definition of the word, these big customer finance companies are truly simply big Trucking Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost immediately, even though you do not make payment up until you are ready.

For this service, the credit card business charges Sears a charge (typical common normal fees vary from 2 to four percent of the sale). The Advantages Accounts Receivable Factoring can offer many benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually currently been provided, a company can factor (sell) its receivables for money at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the company needs that can be met with instant  money.

Largest Factoring Companies provides the ways for a manufacturer to replenish inventory and make even more products to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not simply a cash management device for manufacturers: Practically any kind company can benefit from Receivable Financing. Typically, a business that extends credit will have 10 to 20 percent of its annual sales tied up in invoices at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, however you can sell that invoice for the cash to meet those obligations. Using truck factoring companies is a quick and easy procedure. The factor purchases the invoice at a price cut, usually a couple of percentage points less than the stated value of the invoice.

 

 

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

E-mail Us


or complete the
OnLine


Trucking Factoring Request Kind

 

The United states Trucking Association
specifies that there are about
195,000 truck drivers with freight trucking
companies and
300,000 personal providers trucking
companies licensed to
run in the U.S. that transported,
according to their newest listings of millions of
items, supplies and
basic materials .
There are numerous usual
providers either going solo or in
groups on our country
roadways transporting these
crucial products to our
stores, factories and ports.

Alsotruck factoring
firms benefit
several of them and offer their
receivables financing services
countrywide counting
including the following states.


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

largest-factoring-companies

 

Watch Our Freight Factoring YouTube Videos For More Information

 

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

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

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

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

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

 

EveryTruckJob.com is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

United States Trucking Companies

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.

 

"

Hanson Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Hanson 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. Cash was flowing and times were good for all.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. Worse still, it was noticed by Hanson 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 Hanson, Lonnie Porter, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.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? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Hanson hadn't gone elsewhere. They had just gone home.This current state-of-affairs was causing Lonnie Porter 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. At night he would speak to his wife Viola and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Lonnie 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. Why couldn�t he work out how to resolve this financial problem with his business?""I think I know what it could be,"" Lonnie said. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Viola would look at her husband lovingly, and holding his hand would say 'It's such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Viola was trying so hard to support her husband in these worrying times, while Lonnie was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Lonnie strolled into his office and was determined to sit down and make every phone call to every client who had owed Hanson money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Lonnie knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. Wasting money, wasting time - even with the best of intentions, Lonnie knew that he was in trouble.

 

Poor Lonnie 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.

 

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

 

""Sure thing Dawn, come on in."" Lonnie relaxed back into his chair and looked up at Dawnerley.""Well Lonnie, this afternoon I did some research, trying to work out how we're going to get out of this mess."" 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's really very simple. So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Lonnie interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.��I see,� Lonnie said. �And then what?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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. Once we arrive at a mutual agreement, the funding begins.�Lonnie was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""I don't know, Dawn - it just sounds too good to be true"", Lonnie said quietly.""Now, now, I know, I thought the same thing. But think about it, Lonnie: 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 Lonnie,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Lonnie.""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. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Lonnie said.Lonnie took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we're having with these clients who still owe us money.""Lonnie took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Hanson Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Lonnie was very concerned about losing these relationships. Lonnie knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Dawn, thank you."" Dawn nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Lonnie keep the shirt on his back, and possibly hers too.Lonnie 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 Hanson 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, Hanson could receive up to fifty-percent cash advances upon load pick-ups. Lonnie was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't 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 Willard about this,"" muttered Lonnie to himself.Willard is Lonnie's son-in-law, and he really admired the ideas behind Hanson, so much so that only two years before he had started his own transportation service business. Lonnie knew then what struggles Willard would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Hanson was hurting, a little guy like Willard was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Lonnie was beginning to find his way out of the hole his debtors had created for him.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. Lonnie recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

More Trucking Factoring Companies Story Articles

"

The Future of a Trucking Company, and Factoring William Brown let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Brown Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

William�s father had started as an owner-operator and had grown Brown 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 William's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in William�s hands and he wanted to live to see it in better shape for his sons.

 

To move Brown Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Brown Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. William 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?� 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.

 

William knew he was right in his forward thinking. What would be the next step for Brown Trucking? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

But was factoring the answer? If he was being honest, he didn't really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

William had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a 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 sounded like a great scheme to him.

 

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

 

Feeling happier now, William stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Brown 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 wouldn't be inheriting a financial mess.

 

"

 

 

Watch Our Factoring Video For More Information

 

 

 

 

 

 

 

 

 

Trucking Factoring  Articles

�So It is not a loan?� Reginald Hart asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Reginald 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 Clifton. His company was called Patterson Trucking, named after both of his grandfathers, Francisco and Roy. They had both been hardworking men, and had done a lot to make Reginald the same.Six months ago disaster struck Clifton's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Reginald depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Reginald had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Reginald wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Sherry 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.Sherry explained. �it is really not a loan at all: we actually buy your accounts receivable. We're not giving you finance to be repaid later: we're purchasing something from you, and when you can you can buy it back. This is a win-win situation: we're 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.Reginald agreed. It sounded good to him, almost too good.Sherry laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Sherry smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.��In any case, thank you for coming to see me.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Sherry said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Reginald filled the form out, with Sherry available to help him if he needed it. The completed profile gave Sherry and her company all the information they needed on Clifton's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Reginald filled out his form, Sherry was pretty sure he was a perfect candidate for factoring.Sherry took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Clifton�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Reginald 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 shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Sherry 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 terrifying panic attacks that occurred regardless of 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been 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 long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Patterson Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just didn't have the energy left to try and save the business. But 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. Clifton's eyes opened, he sat forward in his chair and turned on his computer. 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 Corporations Work with Factoring Firms.

 

As the operator of your own establishment, you may likely be more than wary already of the challenge in making certain that capital issues do not become a predicament down the line. After all, the most unfortunate thing that can quite possibly develop for your company is to find yourself embroiled in a long and difficult situation that leaves you forever looking for the resources you require on an continual manner.

 

For any kind of business in this case, the problem can come for waiting for work to clear up and actually be provided into your statement. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with momentary available resources dilemmas. Fortunately, there are approaches out there for enterprises to explore-- and just one of these is factoring companies.

 

Factoring agencies will, in trade for your statements, give you with the finances right now to ensure that you don't need to worry about the lingering time span which could make paying the bills and getting materialsmore challenging. With this type of setup, invoice factoring can end up being extraordinarily useful for numerous establishments who ought to get out of a cash pitfall which they have gotten themselves in.

 

Due to the fact that, relying on the scale of the work, it can take up to 60 days for a number of business enterprises to get paid then it's vital to blanket your own back and not leave yourself cash short to pay off the costs. After all, how many firms have two months cash flow just lying there to handle all their expenditures until they get paid?

 

This is primarily true of trucking enterprises. They generally take care of tons of invoices which means a huge volume of collection time demands business owner themselves. Seeking to get paid out in time can become an incredible hassle and this is precisely why you make use of trucking factoring companies who are happy to help out truckers particularly.

 

As we all know, trucking is an remarkably large business with many firms out there hiring hundreds of vehicle drivers. The sad thing is, several of these drivers end up in income predicaments for the reason that they are still waiting for work from six weeks in the past to actually pay them. When this is the condition for a truck organization, depending on factoring companies for reinforcement may be the most recommended option left.

 

This indicates that a truck organization can pay off the paychecks of the workers, keep all the cars refilled with fuel and continue to escalate, evolve and expand without continually waiting for the funds which is taking too long to come in. Trucking Companies functioning without a factoring program used are leaving themselves at substantial risk, as rivals cash out fast and go on to grow.

 

There's absolutely almost nothing to be troubled about when it comes to employing a Factoring establishment-- they aren't like a banking company or any individual who is going to leave you with a large pile of personal debt to pay back. You give them legitimate invoices from job you have already accomplished , you are just speeding the payment process.

 

In the United states of America, where truck firms prosper, factoring establishments are not considered accepting loan of in any capacity. This private contract then permits both parties to profit and take joy in a comfortable future-- it gives the factoring agency a guaranteed asset of income to put into the list and it furnishes the trucking business the required funds that they worked hard to obtain.

 

The trucking firm provides their accounts to the factoring company. The trucking factoring provider then take the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been employed for decades by many varying business sectors-- but none much more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it signifies that you are acquiring the money today and can actually start off setting the resources to function.

 

Anyway, an IOU or an invoice is not going to cover overheads, is it? For trucking establishments when the funds can be good one day and gone the next, it's up to the drivers to work prudently and to guarantee they are leaving themselves with a significant quantity of time and finance to get through the week until they are compensated again.

 

So the next period your trucking business is enduring some temporary capital dilemmas and you are spending excessive time chasing slowly paying clienteles, why not begin looking into making use of a factoring companies as a means to get your finances and give yourself a more at ease future in the eyes of your trucking staff and your bank balance?

 

 

 

 

 

 

"

Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

Trucking Factoring companies don't offer loans, and you don't go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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 Won't Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is 'buying' your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it's easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. 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.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 you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you don't 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

"

 

 

Accounts Receivable Buyers

 

Accounts Receivable Factor

 

Accounts Receivable Factoring

 

Accounts Receivable Factoring Companies

 

Accounts Receivable Factoring Rates

 

Accounts Receivable Financing

 

Accounts Receivable Financing Companies

 

Accounts Receivable Financing Rates

 

Accounts Receivable Lending

 

Accounts Receivable Loans

 

Best Factoring Companies

 

Best Factoring Companies For Freight Brokers

 

Best Freight Factoring Companies

 

Best Invoice Factoring Company

 

Best Rated Factoring Companies

 

Best Truck Factoring Companies

 

Best Trucking Factoring Company

 

Business Accounts Receivable Loans

 

Buy Accounts Receivable

 

Buy Receivables

 

Factoring Business

 

Factoring Companies Brokers

 

Factoring Companies For Freight Brokers

 

Factoring Companies For Small Businesses

 

Factoring Companies Reviews

 

Factoring Companies Truckers

 

Factoring Companies Used By Trucking Companies

 

Factoring Company

 

Factoring Company Rates

 

Factoring Financing

 

Factoring Loan

 

Factoring Loans

 

Factoring Receivables Companies

 

Factoring Services

 

Factoring Services For Trucking Companies

 

Factoring Small Business

 

Find The Best Factoring Companies

 

Freight Bill Factoring

 

Freight Bill Factoring Companies

 

Freight Broker Factoring Companies

 

 

 

Freight Factoring Companies

 

Freight Factoring Company

 

Freight Factoring Services

 

Freight Invoice Factoring

 

Invoice Factoring Companies

 

Invoice Factoring Rates

 

Invoice Factoring Reviews

 

Invoice Factoring Services

 

Largest Factoring Companies

 

List Of Factoring Companies

 

Medical Factoring Companies

 

Medical Staffing Factoring

 

Oilfield Services Factoring Companies

 

Oilfield Factoring Companies

 

Oilfield Services Factoring

 

Receivable Factoring

 

Receivable Factoring Companies

 

Receivable Factoring Rates

 

Receivable Loan

 

Receivables Factoring

 

Receivables Factoring Companies

 

Receivables Factoring Rates

 

Receivables Factoring With Recourse

 

Reviews The Best Factoring Company For Trucking

 

Sale Of Accounts Receivable

 

Sale Receivables

 

Sell Account Receivables

 

Sell Receivables

 

Sell Your Accounts Receivable

 

Staffing Factoring

 

Staffing Factoring Companies

 

Staffing Factoring Companies

 

Top Factoring Companies

 

Top Invoice Factoring Companies

 

Top Rated Factoring Companies

 

Transportation Factoring

 

Transportation Factoring Trucking

 

Truck Factoring Companies

 

Trucker Factoring

 

Trucking Factoring Companies