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What Your Banker Doesn't Want You to Know - Our Freight Invoice Factoring Companies Can Give
Your Trucking Company The Money You Want

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trucking invoice factoring companies

Medium-Size freight businesses, specifically those who have not been around for extremely long, will frequently find it challenging to secure a loan. Banks are often reluctant to provide money to companies that do not have a lot of income and assets. They likewise want evidence of the viability of a business and hence need that the majority of operations, especially little ones, been around for a certain amount of time before they are eager to hand over any cash. Because of this, a medium-size business typically has few money producing options when needs occur. One alternative available, however frequently overlooked, is factoring. This is an outstanding method for a small business to acquire cash.

 

 

 

 

 

 

 

How To Make a Good Profits - Select A Freight�Invoice Factoring Company  Instead Of A Regular Bank Financing

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

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

Cash flow does not have to be a problem any more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One option is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to an investor rather than waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial foundation of numerous of America's most effective businesses. Why is this ironic ? Since 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 individuals.

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 actually been around for thousands of years. Invoice Factoring Businesses are investors 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 actually agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Utilizing the purest definition of the word, these big customer finance business are really simply large Receivable Funding Companies of customer paper. Consider it: You make a purchase at Sears and charge it to your MasterCard. The store gets paid almost immediately, even though you do not pay until you are prepared.

For this service, the credit card company charges Sears a charge (typical common normal charges vary from 2 to 4 percent of the sale). The Advantages Invoice Factoring can offer many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been provided, a business can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be satisfied with instant  cash.

Factoring provides the means for a manufacturer to replenish stock and make more products to sell: 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 company can take advantage of Commercial Factoring. Generally, 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 moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or this week s payroll with a customer s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and easy process. The factor buys the invoice at a price cut, usually a couple of percentage points less than the stated value of the invoice.

 

 

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The United states Truck Association
states that there around
195,000 employees with truck
companies and
250,000 personal providers trucking
companies accredited to
run in the U.S. that transported,
according to their most current data of millions
products, supplies and
basic materials .
There are several usual
carriers either going solo or in
groups on our nation
roadways carrying these
crucial products to our
stores, manufacturing facilities and ports.

Also freight invoice factoring
corporations benefit
numerous of them and offer their
receivable loan facilities
nationwidecounting
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

 

"

Tulsa, the second-largest city in Oklahoma and seat of Tulsa County, is located in the northeast part of the state on the Arkansas River.Tulsa was settled in the 1830s by Creek Indians from Alabama who were forcibly sent to the area (then part of Indian Territory) under the Indian Removal Act of 1830. Creek medicine men planted ashes from their old home at the new site, and the Creeks named their new village �Tulsy,� meaning old town, in memory of their former home in Tallassee, Ala. In time, the village became the town of Tulsa.The coming of the first railroad in 1882 attracted white settlers to Tulsa, and the town developed into a cattle-shipping center. When enormous oil deposits were discovered at nearby Red Fork in 1901 and at Glenn Pool in 1905, the city experienced rapid growth as a center of a booming petroleum industry. Tulsa was incorporated as a city in 1898 and chartered in 1908.Tulsa is the center of the state's petroleum and telecommunications industries and has a diversified economy. Other important industries include aerospace, chemicals, computer parts, automobile glass, fabricated metals, and industrial machinery. The city became a major inland port when the Tulsa port of Catoosa opened in 1971The United States Oil and Gas Association, formerly the Mid-Continent Oil and Gas Association, was founded in Tulsa on October 13, 1917, six months after the entry of the United States into World War I. At the time Tulsa called itself ""The Oil Capital of the World"". At its creation, the association worked to provide petroleum to the Allied forces. In the decades since its establishment, the association is recognized as a leading advocate for producers of domestic oil and gas.Though the oil industry has historically dominated Tulsa's economy, efforts in economic diversification have created a base in the sectors of aerospace, finance, technology, telecommunications, high tech, and manufacturing. The Tulsa International Airport (TUL) and the Tulsa Port of Catoosa, the nation's most inland seaport, connect the region with international trade and transportation. An American Airlines maintenance base at Tulsa International Airport is the city's largest employer and the largest maintenance facility in the world, serving as the airline's global maintenance and engineering headquarters, while the Tulsa Port of Catoosa and the Tulsa International Airport house extensive industrial parks.Products from Tulsa manufacturers account for about 60% of Oklahoma's exports, and in 2001, the city's total gross product was in the top one-third of metropolitan areas, states, and countries, with more than $29 billion in total goods, growing at a rate of $250 million each year. In 2006, magazine rated Tulsa as second in the nation in income growth, and one of the best cities in the country to do business with. Usually among the lowest in the nation in terms of cost of doing business, the Tulsa Metropolitan Area in 2005 was rated among the five lowest metropolitan areas in the United States for that category.A number of large financial corporations are headquartered in Tulsa, . Meanwhile, there are 30 companies in Tulsa that employ more than 1,000 people, though small businesses make up more than 80% of the city's companies.During a national recession from 2001 to 2003, the city lost 28,000 jobs. In response, a development initiative, Vision 2025, promised to incite economic growth and recreate lost jobs. Projects spurred by the initiative promised urban revitalization, infrastructure improvement, tourism development, riverfront retail development, and further diversification of the economy. As of 2007, employment levels have surpassed pre-recession heights and the city is in a significant economic development and investment surge. This economic improvement is also seen in Tulsa�s housing trends which show an average of a 6% increase in rent in 2010. Since 2006, more than 28,000 jobs have been added to the city.[

 

"

 

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

 

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.

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

 

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. 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

 

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

 

 

"

Baker 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 boom times from 2002 to 2007 Baker Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Baker 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, Gregory George, CEO of Baker felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? 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 Baker hadn't gone elsewhere. They had just gone home.The situation looked dire to Gregory George. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. After work he would confide in his wife, Pamela, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Gregory would stare off into the distance, and then slowly close his eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" said Gregory. ""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.

 

""Gregory knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Gregory strolled into his office and was determined to sit down and make every phone call to every client who had owed Baker money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Gregory 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, Gregory knew that he was in trouble.

 

Poor Gregory 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.

 

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

 

""Sure thing Lori, come on in."" Gregory relaxed back into his chair and looked up at Lorierley.""Well Gregory, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Gregory interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""Gregory replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. We come to an agreement and the funding starts pouring out.�Gregory leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Lori,"" he said.""Now, now, I know, I thought the same thing. But think about it, Gregory: 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 Gregory,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Gregory.""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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Gregory said.Gregory took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Gregory thought about this and agreed with Lorierley. The customers who were in debt to Baker Truck & Haul were professional resources of the company, but they were also long-standing friends. 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. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Lori, thank you."" Lori stood up and left Gregory's office, with the nice feeling of knowing that she may just have solved a very serious problem.Gregory sat behind his desk and looked over the details Lori had not mentioned in their meeting. What other issues could freight factoring help Baker 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. Gregory was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Gregory was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Jimmy about this,"" Gregory muttered to himself.Gregory's son-in-law, Jimmy, loved the idea behind Baker and highly respected his father-in-law for having such great business sense, that two years ago he got his capital together and started his own transportation company. At that time Gregory knew the struggles Jimmy would face, but he still encouraged him to follow his dream. With the faltering economy, if a big fish like Baker was hurting, a little guy like Jimmy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Gregory was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Gregory found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Gregory recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

"

Tulsa, the second-largest city in Oklahoma and seat of Tulsa County, is located in the northeast part of the state on the Arkansas River.Tulsa was settled in the 1830s by Creek Indians from Alabama who were forcibly sent to the area (then part of Indian Territory) under the Indian Removal Act of 1830. Creek medicine men planted ashes from their old home at the new site, and the Creeks named their new village �Tulsy,� meaning old town, in memory of their former home in Tallassee, Ala. In time, the village became the town of Tulsa.The coming of the first railroad in 1882 attracted white settlers to Tulsa, and the town developed into a cattle-shipping center. When enormous oil deposits were discovered at nearby Red Fork in 1901 and at Glenn Pool in 1905, the city experienced rapid growth as a center of a booming petroleum industry. Tulsa was incorporated as a city in 1898 and chartered in 1908.Tulsa is the center of the state's petroleum and telecommunications industries and has a diversified economy. Other important industries include aerospace, chemicals, computer parts, automobile glass, fabricated metals, and industrial machinery. The city became a major inland port when the Tulsa port of Catoosa opened in 1971The United States Oil and Gas Association, formerly the Mid-Continent Oil and Gas Association, was founded in Tulsa on October 13, 1917, six months after the entry of the United States into World War I. At the time Tulsa called itself ""The Oil Capital of the World"". At its creation, the association worked to provide petroleum to the Allied forces. In the decades since its establishment, the association is recognized as a leading advocate for producers of domestic oil and gas.Though the oil industry has historically dominated Tulsa's economy, efforts in economic diversification have created a base in the sectors of aerospace, finance, technology, telecommunications, high tech, and manufacturing. The Tulsa International Airport (TUL) and the Tulsa Port of Catoosa, the nation's most inland seaport, connect the region with international trade and transportation. An American Airlines maintenance base at Tulsa International Airport is the city's largest employer and the largest maintenance facility in the world, serving as the airline's global maintenance and engineering headquarters, while the Tulsa Port of Catoosa and the Tulsa International Airport house extensive industrial parks.Products from Tulsa manufacturers account for about 60% of Oklahoma's exports, and in 2001, the city's total gross product was in the top one-third of metropolitan areas, states, and countries, with more than $29 billion in total goods, growing at a rate of $250 million each year. In 2006, magazine rated Tulsa as second in the nation in income growth, and one of the best cities in the country to do business with. Usually among the lowest in the nation in terms of cost of doing business, the Tulsa Metropolitan Area in 2005 was rated among the five lowest metropolitan areas in the United States for that category.A number of large financial corporations are headquartered in Tulsa, . Meanwhile, there are 30 companies in Tulsa that employ more than 1,000 people, though small businesses make up more than 80% of the city's companies.During a national recession from 2001 to 2003, the city lost 28,000 jobs. In response, a development initiative, Vision 2025, promised to incite economic growth and recreate lost jobs. Projects spurred by the initiative promised urban revitalization, infrastructure improvement, tourism development, riverfront retail development, and further diversification of the economy. As of 2007, employment levels have surpassed pre-recession heights and the city is in a significant economic development and investment surge. This economic improvement is also seen in Tulsa�s housing trends which show an average of a 6% increase in rent in 2010. Since 2006, more than 28,000 jobs have been added to the city.[

 

"

 

More Trucking Factoring Companies Story Articles

"

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Patrick Perez just sat there letting it ring. 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. Perez Trucking Company was at a turning point of growth and Patrick had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Patrick's father had started this business working as an owner-operator and eventually growing Perez Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Patrick�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 Patrick's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Perez 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 all have families and the usual household bills. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Perez Trucking looked weak in a very strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Patrick chuckled, thinking about his father. He remembered when his father was totally against installing 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). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

Patrick knew he was right in his forward thinking. How would he take Perez Trucking to the next level? 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.

 

But was factoring the answer? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. 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 Patrick 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.

 

For Patrick it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies 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 Patrick because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Perez 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, Patrick 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 Perez Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

View Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� asked Christian Dixon, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Christian 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 Bryan. His company was called Mitchell Trucking, named after both of his grandfathers, Tom and Alexander. Both of these men had been very hardworking and had set a great example for Bryan.Six months ago disaster struck Bryan'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. Christian 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 Christian had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

Waiting a month or longer for bills to be paid was quite normal. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Christian wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Christian knew she was employed by a Factoring company and that her name was Rosa. 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.Rosa explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Christian nodded. It sounded perfect - perhaps too good?.Rosa laughed. �I'm not sure that you believe me,� she said.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Rosa nodded. �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.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Rosa said with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Christian filled the form out, with Rosa available to help him if he needed it. The completed profile gave Rosa and her company all the information they needed on Bryan'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. As Christian completed his form, Rosa listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Rosa took it and slid it into her briefcase. Standing up, she reached over the desk and shook Bryan's hand. He stood before they shook as well, and then smiled. Christian walked Rosa to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. But now, after speaking to Rosa and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. The 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 there, he was on the right path, and he was working to make things right.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. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Mitchell Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.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 did not have the energy left to try and save the business. 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 did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Bryan'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.

 

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More Trucking Factoring Company Story Articles

The key reasons why Trucking Corporations Make use of Factoring Companies.

 

As the manager of your own business, you may likely be more than mindful already of the hardship in making certain that cash flow issues do not become a difficulty down the line. Anyway, the most terrible thing that can possibly happen for your establishment is to find yourself dragged in a long and troublesome predicament that leaves you forever trying to find the finances you really need on an on-going basis.

 

For any sort of business enterprise in this situation, the challenge can come for waiting for work to clear up and actually be settled into your statement. Invoices, checks, and the like can take a long time to actually to beprocessed which can easily leave you with short-term cash flow difficulties. Luckily, there are opportunities out there for businesses to delve into-- and one of these is factoring agencies.

 

Factoring companies will, in substitution for your invoices, give you with the funds now to ensure that you do not need to worry about the lingering time frame that could make paying out the bills and obtaining materialsmore tough. With this sort of setup, invoice factoring can end up being tremendously useful for numerous establishments who need to avoid a money trap which they have gotten themselves in.

 

For the reason that, basing on the volume of the work, it can take up to 60 days for several firms to get paid then it is critical to cover your own back and certainly not leave yourself funds short to settle the monthly bills. After all, how many enterprises have two months cash flow just occupying there to deal with all their costs till they get paid?

 

This is most notably true of truck establishments. They often deal with lots of statements which means a notable volume of collection time involves company owner themselves. Seeking to get paid in time can develop into an unbelievable struggle and this is the key reasons why you employ trucking factoring providers who are delighted to help out truckers exclusively.

 

As all of us recognize, trucking is an amazingly massive field with a lot of organizations out there employing hundreds of drivers. Regrettably, plenty of these drivers wind up in money difficulties considering that they are still expecting work from six weeks previously to actually pay them. When this is the scenario for a truck organization, turning to factoring companies for solutions might be the very best choice left.

 

This implies that a truck organization can pay off the salaries of the work force, keep all the vehicles topped off with fuel and continue to go up, evolve and expand without constantly waiting for the resources which is taking too long to come in. Trucking Businesses working without a factoring program applied are leaving themselves at significant threat, as contenders cash out rapidly and continue to broaden.

 

There's genuinely nothing at all to be distressed about when it comes to using a Factoring firm-- they are not like a bank or an individual who is going to leave you with a considerable pile of personal debt to pay back. You give them genuine invoices from work you have already finalized , you are just speeding up the payment process.

 

In the United States, where trucking firms survive, factoring firms are not considered getting a loan in any capacity. This private settlement then allows both groups to profit and enjoy a worry-free future-- it provides the factoring provider a guaranteed asset of earnings to add to the list and it provides the trucking firm the required money that they sweated to get.

 

The trucking establishment bestows their statements to the factoring agency. The trucking factoring provider then acquire the payments from the trucking company's clients. Factoring has beenaround for centuries and has been utilized for several years by several varied business-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are getting the resources today and can actually start off setting the resources to do work.

 

Anyway, an IOU or an invoice is not going to finance spendings, is it? For trucking companies when the resources can be excellent one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a substantial quantity of time and money to get through the week up until they are compensated again.

 

So the next instance your trucking company is enduring some temporary capital challenges and you are spending a bit too much time chasing inactive paying clienteles, why not begin thinking of using a factoring businesses as a manner to get your money and give yourself a more at ease future in the eyes of your trucking crew and your bank difference?

 

 

 

 

 

 

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Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

Trucking Factoring Companies

 

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

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

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

 

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

 

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

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

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

 

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

 

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

 

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