Contact Us Form

or Call Us At 800-986-1854

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

The Company Who Won the Prize For - Our Receivable Financing Company Can Provide
Your Truck Company The Money You Want

smallbusinessfactoring.org

freight factoring definition

truck factoring definition

freight invoice factoring

trucking invoice factoring companies

Truck Factoring is advantageous for numerous reasons. It permits a trucking business to raise cash without acquiring new financial obligation. While financial obligation is sometimes essential, many trucking companies would choose to raise cash without borrowing money. Debt is risky, and when it can not be paid back, assets can be repossessed. If the debt is large enough, it might even force a freight brokerage out of business.

 

 

 

 

 

 

 

What Your Banker Doesn't Want You to Know - Select A Freight�Brokerage Factoring Company  Instead Of A Traditional Bank Funding

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

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

Cash flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get financing. Other options are offered and you do not have to borrow. What is trucking factoring ? One solution is called trucking factoring. Truck Factoring is the procedure of offering accounts receivable to a financier rather than waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has an ironic difference: It is the monetary backbone of numerous of America's most effective companies. Why is this ironic ? Because staffing factoring is not instructed in business colleges, is rarely mentioned in business plans and is relatively unidentified to bulk of most of American business people.

Yet it is a monetary procedure that frees billions of dollars every year, allowing countless businesses to grow and prosper. Factoring has been around for thousands of years. Accounts Receivable Factoring Companies are investors who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business transactions, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail deals. Using the purest meaning of the word, these big consumer finance companies are really simply big Accounts Receivable Factoring Businesses of consumer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store makes money almost 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 fees vary from 2 to 4 percent of the sale). The Advantages Receivable Financing can offer numerous benefits to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a small price cut off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be satisfied with instant  cash.

Receivable Funding offers the means for a producer to replenish inventory and make even more products to offer: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not just a cash management tool for producers: Practically any kind business can take advantage of Receivable Funding. Typically, a business that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a moment 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 money to satisfy those obligations. Using truck factoring companies is a quick and simple procedure. The factor buys the invoice at a price cut, usually 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

 

 

minneapolis-factoring-companies

 

The American Transportation Organization
specifies that there around
195,000 workers with truck
companies and
300,000 personal service providers trucking
companies accredited to
run in the States that carried,
according to their newest listings of millions of
products, materials and
fundamental products .
There are a number of usual
providers either going solo or in
teams on our nation
highways transporting these
vital items to our
stores, manufacturingplants and ports.

Also truck factoring
businesses help
many of them and offer their
factoring facilities
nationwideincluding
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

 

"

Minneapolis, the largest city in Minnesota and the seat of Hennepin County, is located in the southeast central part of the state on the Mississippi River. It is adjacent to its �twin city� of St. Paul.In 1680, Father Louis Hennepin visited the future site of Minneapolis and gave the Falls of St. Anthony their name. Lt. Zebulon Pike made a treaty with the Sioux Indians in 1805�1806, by which they ceded to the whites much land, including the Falls of St. Anthony and the site of Minneapolis. Fort Snelling was built in 1819�1820, and in 1823 the government built a lumber and flour mill. Flour milling became the major industry of early Minneapolis and made the city the milling capital of the world. The town of St. Anthony was established on the east bank of the Mississippi in 1848, and the town of Minneapolis grew up on the opposite bank of the river. The name Minneapolis is a combination of the Dakota Sioux word �minna,� for water, and the Greek word �polis,� for city. Minneapolis was incorporated as a city in 1867, and in 1872 the city of St. Anthony (chartered in 1860) was annexed to it. After the spread of the railroads in the 1870s, Minneapolis became the gateway to the Northern Great Plains.Minneapolis is a center of industry and commerce serving a large agricultural region. During the 20th century, manufacturing, food processing, milling, computers, health services, and graphic arts developed as Minneapolis's major industries. Fifteen Fortune 500 companies are headquartered in the Minneapolis�St. Paul metropolitan area. The city is the headquarters of the Ninth Federal Reserve Bank.The Twin Cities are known for their wide array of cultural attractions, and Minneapolis is home to many fine museums, including the Minneapolis Institute of Arts, the Walker Center, and the Frederick R. Weisman Art Museum at the University of Minnesota's Minneapolis campus.The Twin Cities, Minneapolis and St. Paul, hosted the 2008 Republican National ConventionThe Minneapolis�St. Paul area is the second largest economic center in the Midwest, behind Chicago. The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery. The city at one time produced farm implements..Availability of Wi-Fi, transportation solutions, medical trials, university research and development expenditures, advanced degrees held by the work force, and energy conservation are so far above the national average that in 2005, Popular Science named Minneapolis the ""Top Tech City"" in the U.S. The Twin Cities ranked the country's second best city in a 2006 Kiplinger's poll of Smart Places to Live and Minneapolis was one of the Seven Cool Cities for young professionals.The Twin Cities contribute 63.8% of the gross state product of Minnesota. The area's $199.6 billion gross metropolitan product and its per capita personal income rank thirteenth in the U.S. Recovering from the nation's recession in 2000, personal income grew 3.8% in 2005, though it was behind the national average of 5%. The city returned to peak employment during the fourth quarter of that year.The Federal Reserve Bank of Minneapolis, serves Minnesota, Montana, North and South Dakota, and parts of Wisconsin and Michigan. The smallest of the 12 regional banks in the Federal Reserve System, it operates a nationwide payments system, oversees member banks and bank holding companies, and serves as a banker for the U.S. Treasury. The Minneapolis Grain Exchange founded in 1881 is still located near the riverfront and is the only exchange for hard red spring wheat futures and options

 

"

 

Watch Our Trucking Factoring YouTube Videos For More Information

 

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

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

List of Trucking Companies for Owner/Operators and Company Drivers

 

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

 

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.

 

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. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. 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 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

 

 

"

Hamilton Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Hamilton 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. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl

 

. Worse still, it was noticed by Hamilton in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Tony Fernandez, CEO of Hamilton felt a chill go down his spine whenever he would look at the weekly A/R reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not the case. 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. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.The situation looked dire to Tony Fernandez. 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. In the evenings he would discuss his concerns with his wife, Gladys, and still find no relief from the worry and frustration.

 

""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would ask.Tony would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Tony. ""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."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Tony knew very well that Gladys was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Tony walked into his office with a spring in his step, determined to call each and every client who owed money to Hamilton Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Tony was realising just how much trouble he was in.Poor Tony spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

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

 

""Sure thing Tracy, come on in."" Tony relaxed back into his chair and looked up at Tracyerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Tony."" 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?"" she asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Tony interrupted ""Immediately?"".""Immediately, yes"" she added, ""it is actually very simple. 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.""I see,� Tony said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Tony studied the documents very closely.""It sounds too good to be true, Tracy,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Tony,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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,"" said Tony.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Tony 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 Hamilton. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. 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 did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Tracy, and thankyou."" Tracy nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Tony keep the shirt on his back, and possibly hers too.Tony sat behind his desk and looked over the details Tracy had not mentioned in their meeting. What other issues could freight factoring help Hamilton 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. Tony was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Francis the good news,"" muttered Tony to himself.Francis is Tony's son-in-law, and he really admired the ideas behind Hamilton, so much so that only two years before he had started his own transportation service business. Tony knew then what struggles Francis would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Hamilton was hurting, a little guy like Francis was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Tony was going to find out very soon.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Tony found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Tony recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Tony hadn't discovered freight factoring at just the right time, his business may not be operating today.

 

"

 

"

Minneapolis, the largest city in Minnesota and the seat of Hennepin County, is located in the southeast central part of the state on the Mississippi River. It is adjacent to its �twin city� of St. Paul.In 1680, Father Louis Hennepin visited the future site of Minneapolis and gave the Falls of St. Anthony their name. Lt. Zebulon Pike made a treaty with the Sioux Indians in 1805�1806, by which they ceded to the whites much land, including the Falls of St. Anthony and the site of Minneapolis. Fort Snelling was built in 1819�1820, and in 1823 the government built a lumber and flour mill. Flour milling became the major industry of early Minneapolis and made the city the milling capital of the world. The town of St. Anthony was established on the east bank of the Mississippi in 1848, and the town of Minneapolis grew up on the opposite bank of the river. The name Minneapolis is a combination of the Dakota Sioux word �minna,� for water, and the Greek word �polis,� for city. Minneapolis was incorporated as a city in 1867, and in 1872 the city of St. Anthony (chartered in 1860) was annexed to it. After the spread of the railroads in the 1870s, Minneapolis became the gateway to the Northern Great Plains.Minneapolis is a center of industry and commerce serving a large agricultural region. During the 20th century, manufacturing, food processing, milling, computers, health services, and graphic arts developed as Minneapolis's major industries. Fifteen Fortune 500 companies are headquartered in the Minneapolis�St. Paul metropolitan area. The city is the headquarters of the Ninth Federal Reserve Bank.The Twin Cities are known for their wide array of cultural attractions, and Minneapolis is home to many fine museums, including the Minneapolis Institute of Arts, the Walker Center, and the Frederick R. Weisman Art Museum at the University of Minnesota's Minneapolis campus.The Twin Cities, Minneapolis and St. Paul, hosted the 2008 Republican National ConventionThe Minneapolis�St. Paul area is the second largest economic center in the Midwest, behind Chicago. The economy of Minneapolis today is based in commerce, finance, rail and trucking services, health care, and industry. Smaller components are in publishing, milling, food processing, graphic arts, insurance, education, and high technology. Industry produces metal and automotive products, chemical and agricultural products, electronics, computers, precision medical instruments and devices, plastics, and machinery. The city at one time produced farm implements..Availability of Wi-Fi, transportation solutions, medical trials, university research and development expenditures, advanced degrees held by the work force, and energy conservation are so far above the national average that in 2005, Popular Science named Minneapolis the ""Top Tech City"" in the U.S. The Twin Cities ranked the country's second best city in a 2006 Kiplinger's poll of Smart Places to Live and Minneapolis was one of the Seven Cool Cities for young professionals.The Twin Cities contribute 63.8% of the gross state product of Minnesota. The area's $199.6 billion gross metropolitan product and its per capita personal income rank thirteenth in the U.S. Recovering from the nation's recession in 2000, personal income grew 3.8% in 2005, though it was behind the national average of 5%. The city returned to peak employment during the fourth quarter of that year.The Federal Reserve Bank of Minneapolis, serves Minnesota, Montana, North and South Dakota, and parts of Wisconsin and Michigan. The smallest of the 12 regional banks in the Federal Reserve System, it operates a nationwide payments system, oversees member banks and bank holding companies, and serves as a banker for the U.S. Treasury. The Minneapolis Grain Exchange founded in 1881 is still located near the riverfront and is the only exchange for hard red spring wheat futures and options

 

"

 

More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring Jeff Ortiz let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Jeff is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Ortiz Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Jeff's father had started this business working as an owner-operator and eventually growing Ortiz Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Jeff�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Jeff's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They all have families and the usual household bills. 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. Every time he had to turn down a request, Ortiz Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jeff allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Jeff believed a successful man is always thinking of his next step. What would be the next step for Ortiz 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. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

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 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. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Jeff to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

However, it all turned out to be very simple. 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. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. 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 didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Jeff 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 think poorly of Ortiz Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.

 

Feeling happier now, Jeff stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. 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. With the capabilities of this new cash flow, Jeff could actually expand Ortiz Trucking Company further across the country and perhaps even go international into Canada. 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.

 

 

 

Watch Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Ross Barnes asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she said.Ross 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 Wallace. His company was called Brown Trucking, named after both of his grandfathers, Angel and Jamie. They had both been hardworking men, and had done a lot to make Ross the same.Six months ago disaster struck Wallace'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. Ross 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Ross 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.And that's why he found himself across the desk from this woman. Ross knew she was employed by a Factoring company and that her name was Jackie. Ross had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Ross nodded. It sounded good to him, almost too good.The woman laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Jackie smiled, agreeing. �We get that a lot. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.""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 Jackie with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Ross filled the form out, with Jackie available to help him if he needed it. The profile filled Jackie and her company in on Wallace�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Ross completed his form, Jackie listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Jackie took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Wallace�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Ross 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. But now, after speaking to Jackie and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off 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.Ross couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Brown Trucking. So he did it. Once again he built a company from the ground up. The business had been an instant success.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he would not have to - all because of Factoring. Ross 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

Why Truck Companies Utilize Factoring Companies.

 

As the owner of your own business enterprise, you may likely be more than perceptive already of the difficulty in making certain that capital matters do not become a problem down the line. Anyway, the toughest thing that can possibly take place for your company is to find yourself swept up in a long and difficult circumstance that leaves you forever searching for the money you need to have on an continuing basis.

 

For virtually any business enterprise in this instance, the trouble can come for waiting for work to clear up and actually be compensated into your statement. Invoices, checks, and the like could take a long time to actually to be taken care of which can leave you with momentary cash flow issues. Fortunately, there are solutions out there for establishments to check out-- and just one of these is factoring providers.

 

Factoring agencies will, in trade for your invoices, grant you with the finances right away to ensure you do not need to fret about the delaying time span that could make paying out the expenses and getting materialsmore difficult. With this sort of setup, invoice factoring can come to be extremely beneficial for plenty of firms who have to get out of a money ploy which they have found themselves in.

 

Simply because, basing on the volume of the project, it can take up to 60 days for some businesses to get paid then it is critical to cover up your own back and certainly not leave yourself funds short to pay off the monthly bills. After all, how many businesses have two months profits just lying there to pay for all their expenses till they get paid?

 

This is primarily true of trucking agencies. They usually manage tons of accounts which means a huge quantity of collection period involves company owner themselves. Striving to get paid out promptly can become an incredible headache and this is the key reasons why you employ trucking factoring agencies who are glad to help out truckers primarily.

 

As we all determine, trucking is an exceptionally massive business with lots of agencies out there working with hundreds of operators. Regrettably, several of these drivers end up in money dilemmas since they are still awaiting work from six weeks ago to actually compensate them. When this is the scenario for a trucking firm, resorting to factoring agencies for help might be the finest alternative left.

 

This means that a truck company can pay out the salaries of the crew, keep all the trucks loaded with fuel and continue to escalate, grow and expand without constantly waiting for the cash which is taking too lengthy to come in. Trucking Establishments operating without a factoring program put in place are leaving themselves at considerable threat, as rivals cash out rapidly and continue to broaden.

 

There's absolutely very little to be worried about when it comes to utilizing a Factoring establishment-- they commonly are not like a financial institution or someone who is going to leave you with a significant stockpile of liability to repay. You give them legitimate invoices from work you have already finalized , you are only just expediting the payment system.

 

In the United States, where trucking firms succeed, factoring providers are not considered borrowing in any capacity. This private arrangement then enables both parties to benefit and enjoy a good future-- it provides the factoring provider a guaranteed resource of profit to add to the list and it provides the trucking business the needed finances that they sweated to get.

 

The trucking firm provides their invoices to the factoring agency. The trucking factoring company then receive the payment amounts from the trucking company's customers. Factoring has beenaround for centuries and has been adopted for several years by a lot of varying markets-- but none much more so than truckers. While you might possibly lose out on a small part of the money, something like 1-3 % depending on who you partner with, it indicates that you are receiving the finances today and can actually start putting the money to operate.

 

After all, an IOU or an invoice is certainly not going to pay for bills, is it? For trucking firms when the resources can be great one day and gone the next, it is up to the drivers to work smartly and to make certain they are leaving themselves with a substantial quantity of time and finance to get through the week up until they are paid once again.

 

So the next instance your trucking enterprise is enduring some momentary cash flow issues and you are spending a bit too much time chasing slowly paying customers, why not start off looking at making use of a factoring businesses as a way to get your finances and give yourself a more comfortable future in the eyes of your trucking workers 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. 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 you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

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

 

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

 

1. There is no 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. 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.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 you do not have to worry about monthly loan repayments, and you do not 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. 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 main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. 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.

 

"

 

 

 

 

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