Contact Us Form

or Call Us At 800-986-1854

Email Us

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home page

How I Improved My Profits in One Evening - Our Freight Invoice Factoring Companies Can Provide
Your Trucking Company The Cash You Want

smallbusinessfactoring.org

best trucking factoring

factoring trucking business

trucking factoring company

best trucking factoring company

Trucking Factoring is helpful for a number of factors. It enables a trucking company to raise money without acquiring brand-new financial obligation. While debt is sometimes essential, the majority of freight broker firm would prefer to raise money without borrowing money. Financial obligation is high-risk, and when it cannot be repaid, possessions can be repossessed. If the debt is big enough, it might even require a truck companies out of business.

 

 

 

 

 

 

 

Take This One Minute Test - Select A Truck�Factoring Company  Instead Of A Regular Bank Funding

Exactly how to Increase Money Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only locations you can get funding. Other solutions are offered and you do not have to borrow. Exactly what is trucking factoring ? One solution is called truck factoring. Truck Factoring is the procedure of offering accounts receivable to an investor instead of waiting to collect the cash from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of many of America's most successful companies. Why is this ironic ? Since staffing factoring is not taught in business colleges, is seldom mentioned in business strategies and is relatively unknown to bulk of most of American company individuals.

Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Invoice Factoring has actually been around for countless years. Receivable Financing Businesses are financiers who pay cash for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has agreed pay in the near future. Factoring Principals--Although factoring deals solely with business-to-business deals, a big portion of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest definition of the word, these big customer finance business are truly simply big Factoring Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The store gets paid practically immediately, although you do not make payment up until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees range from 2 to 4 percent of the sale). The Benefits Invoice Factoring can provide numerous benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually already been provided, a company can factor (sell) its receivables for cash at a small discount off the amount of the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant  cash.

Receivable Funding provides the means for a producer to renew stock and make more products to sell: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a money management tool for producers: Practically any kind company can take advantage of Accounts Receivable Factoring. Generally, 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 minute about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a customer s invoice, but you can sell that invoice for the money to meet those responsibilities. Using trucking factoring companies is a quick and simple procedure. The factor purchases the invoice at a price cut, typically a few percentage points less than the face value of the invoice.

 

 

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

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

 

 

tulsa-factoring-companies

 

The United states Transportation Association
states that there are about
205,000 workers with transportation
companies and
276,000 private companies trucking
firms licensed to
operate in America that transferred,
according to their most current searchings for billions of
items, supplies and
standard materials .
There are numerous usual
providers either going solo or in
teams on our nation
highways carrying these
important products to our
shops, factories and ports.

And freight factoring
companies benefit
several of them and offer their
receivables financing facilities
countrywideincluding
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.[

 

"

 

View Our Truck Factoring Companies YouTube Videos For More Information

 

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

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.

 

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.

 

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

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

 

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.

 

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

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

 

 

"

Kelley Truck and Haul has been in business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, Kelley 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.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. And worse yet, Kelley had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. Spring changed to summer, summer changed to fall, and the CEO of Kelley, Tyler Owens, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.He had already been to the administrators to ask what the actual problem was. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Kelley money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Kelley hadn't gone elsewhere. The had just gone!.To Tyler Owens the situation looked desperate. Tyler was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Elsie, and neither were unable to stop the constant worry over the lack of funds.""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Tyler would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I know what it is,"" said Tyler. ""I've relied too long on the profits I receive from invoices alone. 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.

 

""Tyler 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 Tyler strolled into his office and was determined to sit down and make every phone call to every client who had owed Kelley money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Tyler was realising just how much trouble he was in.After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Saraerley knocked at his door.

 

""Can I have a word with you Tyler?"" she queried, standing in the doorway.

 

""Of course Sara, please come in."" Tyler leaned back in his chair and looked expectantly at Saraerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Tyler."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" Saraerley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Tyler interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. 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,� Tyler said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

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.�Tyler was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Sara,"" he said.""Now, now, I know, I thought the same thing. But think about it, Tyler: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Tyler,"" she underlined a paragraph on the paper before him.""Just how flexible?"" asked Tyler.""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,"" said Tyler.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Tyler thought about this and agreed with Saraerley. The customers who were in debt to Kelley 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. Tyler knew only too well that the whole economy was floundering, and that it was not going to change overnight. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Sara, thank you."" Sara nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Tyler keep the shirt on his back, and possibly hers too.Tyler stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. What other issues could freight factoring help Kelley with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Kelley could receive up to fifty-percent cash advances upon load pick-ups. Tyler 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 Edwin about this,"" muttered Tyler to himself.Tyler's son-in-law, Edwin, loved the idea behind Kelley 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. Tyler knew then what struggles Edwin would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Kelley was hurting, a little guy like Edwin was about to catch his death. But, an antidote may have been found in freight factoring and Tyler was soon to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Tyler found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Tyler recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Tyler hadn't discovered freight factoring at just the right time, his business may not be operating 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

The Future of a Trucking Company, and Factoring Frederick Hicks let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Hicks 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.

 

Frederick�s father had started as an owner-operator and had grown Hicks Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Frederick's mother had jumped into the cab at times to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Frederick'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. He knew that turning down these requests made Hicks Trucking look inefficient and weak in what was currently a strong market.

 

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

 

Frederick knew he was right in his forward thinking. How would he take Hicks 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. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? 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. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Now it was time for Frederick to do his homework. Frederick had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly 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 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. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. 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 sounded like a great scheme to him.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Frederick because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Hicks 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, Frederick 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. With the capabilities of this new cash flow, Frederick could actually expand Hicks 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.

 

 

 

View Our Truck Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So It is not a loan?� Kenneth Griffin asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Kenneth Griffin owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Guy. He named his business Allen Trucking, named after Darrell and Aaron, his two grandfathers. They had both been hardworking men, and had done a lot to make Kenneth the same.Disaster had struck half a year ago, when two trucks in Guy�s fifteen truck fleet went down. One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Kenneth 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.

 

Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Kenneth 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.That�s where the woman across the desk came in. Her name was Ramona and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Ramona explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Kenneth nodded. It sounded perfect - perhaps too good?.Ramona laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Ramona nodded. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Ramona said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Kenneth filled the form out, with Ramona available to help him if he needed it. The completed profile gave Ramona and her company all the information they needed on Guy'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Kenneth filled out his form, Ramona was pretty sure he was a perfect candidate for factoring.When the form was done Ramona took it and slid it into her briefcase. She then stood, reached across the desk and shook Guy�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Kenneth walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed 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 Ramona 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.All those long, sleepless nights. 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. 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 Allen Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.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 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. Guy's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

Why Truck Corporations Work with Factoring Firms.

 

As the manager of your own establishment, you may perhaps be more than wary already of the challenge in making sure that capital issues do not become a difficulty down the line. After all, the most unfortunate thing that can possibly take place for your company is to find yourself dragged in a long and challenging condition that leaves you forever searching for the funds you necessitate on an continuing manner.

 

For virtually any business enterprise in this situation, the trouble can come for waiting for work to clear up and actually be paid out into your bank account. Statements, checks, and the like can take a long time to actually to beprocessed which may leave you with momentary capital troubles. Thank goodness, there are approaches out there for firms to look into-- and among these is factoring agencies.

 

Factoring agencies will, in exchange for your statements, provide you with the cash today to ensure that you do not have to worry about the delaying phase that could make paying the expenses and obtaining toolsmore troublesome. With this kind of setup, invoice factoring can become tremendously helpful for lots of companies who have to get out of a cash lure which they have gotten themselves in.

 

Since, depending on the scale of the work, it can take up to 60 days for some business enterprises to get compensated then it is very important to blanket your own back and not leave yourself funds short to settle the monthly bills. After all, how many companies possess two months income just occupying there to cover all their costs till they make money?

 

This is most especially true of truck firms. They often manage bunches of accounts which means a notable amount of collection period involves business owner themselves. Making an effort to get paid promptly can turn into an unbelievable struggle and this is why you make use of truck factoring firms who are glad to help out truckers specifically.

 

As all of us realize, trucking is an extremely large business with a lot of organizations out there employing hundreds of vehicle drivers. However, several of these drivers end up in money difficulties given that they are still awaiting work from six weeks previously to actually compensate them. When this is the case for a truck business, depending on factoring firms for support maybe the most effective option left.

 

This means that a trucking business can pay the wages of the work force, keep all the trucks loaded with gas and continue to escalate, evolve and expand without constantly waiting for the money which is taking too long to come in. Trucking Business enterprises running without a factoring system put in place are leaving themselves at considerable danger, as contenders cash out fast and carry on to grow.

 

There's honestly very little to be troubled about when it comes to employing a Factoring establishment-- they typically are not like a bank or an individual who is going to leave you with a large stockpile of financial debt to pay back. You give them authentic invoices from work you have already finished , you are only facilitating the payment system.

 

In the Usa, where trucking agencies thrive, factoring enterprises are not considered getting a loan in any capacity. This private settlement then makes it possible for both groups to benefit and experience a good future-- it provides the factoring provider a secured asset of cash flow to put into the list and it offers the trucking firm the needed finances that they sweated to earn.

 

The trucking establishment presents their statements to the factoring establishment. The trucking factoring business then acquire the installment payments from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for several years by a lot of various business sectors-- but none exceeding so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending on who you work with, it means that you are obtaining the finances today and can actually start off setting the funds to operate.

 

After all, an IOU or an invoice is not going to fund spendings, is it? For trucking establishments when the funds can be really good one day and gone the next, it is up to the drivers to work prudently and to make certain they are leaving themselves with a substantial amount of time and finance to get through the week till they are paid for again.

 

So the next occasion your trucking company is enduring some temporary cash flow issues and you are shelling out excessive time chasing slow paying customers, why not start off looking into making use of a factoring businesses as a means to get your money and give yourself a more worry-free future in the eyes of your trucking team and your bank difference?

 

 

 

 

 

 

"

Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. 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. 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.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

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

 

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. 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. 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. 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 makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. Receive Your 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is 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. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you 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.

 

"

 

 

 

 

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