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How I Improved My Profits in One Evening -
Our Transportation Factoring
Can Provide
Your Trucking Company
The Money Your Company Needs



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Using a Truck Factoring Company is advantageous for several factors. It enables a truck firm to raise money without obtaining new debt. While financial obligation is sometimes required, most truck companies would like to raise money without borrowing cash. Debt is high-risk, and when it can't be paid back, properties can be repossessed. If the financial obligation is large enough, it could even force a truck businesses out of business.

Is The Life of a Receivable Worth $1 to You - Choose 

A Freight�Brokerage Factoring Company  Instead Of A Traditional Bank Funding

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

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

Money flow does not have to be a problem any ever 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 money. Exactly what is truck factoring ? One option is called transportation factoring. Trucking Factoring is the process of selling invoices to a financier instead of waiting to collect the money from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the financial backbone of numerous of America's most effective companies. Why is this paradoxical ? Since receivable funding is not taught in business colleges, is seldom discussed in company plans and is relatively unidentified to the majority of most of American business people.

Yet it is a monetary process that releases up billions of dollars every year, allowing countless companies to grow and prosper. Receivable Financing has been around for countless years. Commercial Factoring Businesses are financiers who pay money for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a debt your customer has actually agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Utilizing the purest meaning of the word, these large consumer finance companies are really simply big Commercial Factoring Companies of consumer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The store makes money practically immediately, although you do not make payment until you are ready.

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

Transportation Factoring provides the ways for a manufacturer to replenish inventory and make more products to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not simply a cash management device for producers: Almost any type company can take advantage of Staffing Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can offer that invoice for the cash to satisfy those responsibilities. Using trucking factoring companies is a quick and easy procedure. The factoring company buys the invoice at a price cut, usually a few portion points less than the face value of the invoice.



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The U.s. Truck Association
specifies that there are about
200,000 workers with freight trucking
businesses and
300,000 personal service providers trucking
companies licensed to
run in America that carried,
according to their newest listings of millions of
items, materials and
standard materials .
There are several usual
carriers either going solo or in
teams on our nation
highways transferring these
crucial products to our
shops, manufacturingplants and harbors.

Furthermorefreight factoring
businesses benefit
numerous of them and offer their
accounts receivablesfinancing services
nationally counting
including the following states.

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



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Oilfield services Receivables Financing company Calculator
This calculator will show you how much you will make by using our Oilfield services Receivables Financing company . But, as your about todiscover, youwill certainly notice the increased cash flow that will occur when you use our Oilfield services Receivables Financing company
Enter the principal balance of your Oilfield services Receivables Financing company
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Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen


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

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


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

The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The JOC Top 50 Trucking Companies list, based on data prepared by SJ Consulting Group in Pittsburgh. is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

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


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.




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


. And worse yet, Willis 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. And as spring turmed to summer and summer into the early days of fall, Gordon Spencer, CEO of Willis felt a chill go down his spine whenever he would look at the weekly A/R 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 Willis money had jumped ship and decided to leave him holding the bag.


. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.This current state-of-affairs was causing Gordon Spencer to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. In the evenings he would discuss his concerns with his wife, Bernice, and still find no relief from the worry and frustration.


""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Gordon 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 Gordon. ""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's a hard economy. It might be awhile until things get settled up.


""Gordon 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 following day Gordon walked into his office with a spring in his step, determined to call each and every client who owed money to Willis Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Gordon 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. 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. Wasting money, wasting time - even with the best of intentions, Gordon knew that he was in trouble.


Poor Gordon 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.


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


""Of course Amber, please come in."" Gordon relaxed back into his chair and looked up at Ambererley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Gordon."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard the word factoring?"" Ambererley asked.""It sounds vaguely familiar. What is it?"" he said.She began, ""Well, it's really very simple. Basically, factoring invoices means that we would get paid immediately for the loads we haul.""""Immediately?"" Gordon interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it's pretty easy. We can have an expert account manager review our numbers and help us complete a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.��Gordon replied cautiously ""I see - and what happens then?��Following the completion of their review and once we've been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. 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.�Leaning forward, Gordon studied the documents very closely.""I don't know, Amber - it just sounds too good to be true"", Gordon said quietly.""Now, now, I know, I thought the same thing. But think about it, Gordon: 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 Gordon,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. """"It does all sound pretty good, remembering that we're all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Gordon.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're in with these folks who owe us money.""Gordon thought about this and agreed with Ambererley. The clients who owed them money were long standing friends and professional resources of Willis. They didn't want to throw away these relationships because they were having trouble paying their bills now. Gordon knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Amber, thank you."" Amber stood up and left Gordon's office, with the nice feeling of knowing that she may just have solved a very serious problem.Gordon sat behind his desk and looked over the details Amber had not mentioned in their meeting. What other issues could freight factoring help Willis 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. Gordon was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Ronnie the good news,"" Gordon muttered to himself.Gordon's son-in-law, Ronnie, loved the idea behind Willis 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 Gordon knew the struggles Ronnie would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Willis was struggling then the little guys, like Ronnie, were going to be in even more trouble.


But, maybe the answer for both of them was in freight factoring, and Gordon was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Gordon was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Gordon 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.





More Trucking Factoring Companies Story Articles


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


Richard�s father had started as an owner-operator and had grown Miller 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 Richard'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. Now the company was solely in Richard�s hands and he wanted to live to see it in better 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. He had employees to pay. They had families and household bills too. 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 Miller 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'. Richard allowed himself a good hard chuckle. 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.


Richard knew he was right in his forward thinking. How would he take Miller 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. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.


Now it was time for Richard 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 friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?


But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he wouldn't 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 more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Richard because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn't have any problems, nor would they think poorly of Miller 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.


Richard stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. There was a new bounce is his step now: he knew instinctively that this new step would raise the future of his company to a new and higher level, and that all the stress from the past could now be put behind him. With the capabilities of this new cash flow, Richard could actually expand Miller Trucking Company further across the country and perhaps even go international into Canada. 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.





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Trucking Factoring  Articles

�So It is not a loan?� asked Clarence Warren, reclining back into his chair and crossing his legs. The woman sitting across the desk from Clarence smiled at him, shaking her head.�Not quite,� she stated.Clarence Warren 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 Sergio. His company was called Bates Trucking, named after both of his grandfathers, Larry and Jeffrey. Both of these men had been very hardworking and had set a great example for Sergio.Disaster had struck half a year ago, when two trucks in Sergio�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. Clarence 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 Clarence 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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Clarence wasn�t a bad owner, and he hadn�t messed up. Things had happened that he couldn't have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Clarence knew she was employed by a Factoring company and that her name was Veronica. Clarence had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. We 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're protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Clarence nodded. It sounded perfect - perhaps too good?.Veronica laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Veronica nodded. �We get that a lot. There's no way we want to see you lose your business. You work hard, you�ve put everything you can into it. 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,� said Veronica with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.


Clarence completed the form, with Veronica offering advice as needed.


The profile filled Veronica and her company in on Sergio�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Clarence completed his form, Veronica listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Veronica took it and slid it into her briefcase. She then stood, reached across the desk and shook Sergio�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Clarence 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. Talking to Veronica though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. 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. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought 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 Bates Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now it seemed as though he wouldn't have to - all because of Factoring. Clarence opened his eyes, sat forward, turned his computer on. He had things to do. He could be thankful later, for now, it was time to work.





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The key reasons why Trucking Companies Employ Factoring Firms.


As the operator of your own business enterprise, you may likely be more than knowledgeable already of the challenge in making certain that cash flow matters do not become a problem down the line. Anyway, the most disappointing thing that can potentially develop for your company is to find yourself swept up in a long and problematic condition that leaves you forever looking for the resources you need on an recurring manner.


For virtually any business enterprise in this position, the problem can come for waiting for work to clear up and actually be repaid into your statement. Bill of sales, checks, and the like can take a while to actually to be taken care of which can easily leave you with momentary cash flow issues. Fortunately, there are options out there for industries to examine-- and one of these is factoring firms.


Factoring companies will, in substitution for your bill of sales, supply you with the finances immediately to make sure that you don't need to worry about the waiting phase which could make paying the expenses and obtaining materialsmore challenging. With this style of setup, invoice factoring can come to be exceptionally practical for various businesses who ought to get out of a cash ploy which they have found themselves in.


For the reason that, basing on the size of the job, it can take up to 60 days for several enterprises to get compensated then it's significant to cover up your own back and not leave yourself resources short to pay the monthly bills. After all, how many establishments have two months profits just occupying there to cover all their expenses until they earn?


This is particularly correct of trucking enterprises. They have the tendency to handle lots of invoices which means a notable quantity of collection time entails company owner themselves. Striving to get paid promptly can turn into an incredible inconvenience and this is the key reasons why you employ truck factoring organizations who are delighted to help out truckers primarily.


As most of us recognize, trucking is an remarkably huge business with many firms out there hiring hundreds of operators. However, numerous of these drivers land up in money issues simply because they are still waiting on work from six weeks in the past to actually compensate them. When this is the scenario for a trucking firm, resorting to factoring firms for reinforcement could be the very best option left.


This indicates that a truck corporation can pay out the paychecks of the crew, keep all the trucks filled with gas and continue to escalate, evolve and expand without constantly waiting for the resources which is taking too prolonged to come in. Trucking Businesses running without a factoring system applied are leaving themselves at notable threat, as rivals cash out quickly and continue to expand.


There's genuinely not a thing to be distressed about when it comes to working with a Factoring agency-- they aren't like a banking company or an individual who is going to leave you with a massive stack of personal debt to repay. You give them genuine invoices from job you have already finalized , you are only just expediting the payment system.


In the Usa, where trucking establishments do well, factoring agencies are not considered borrowing in any capacity. This private contract then makes it possible for both groups to benefit and take joy in a worry-free future-- it provides the factoring firm a guaranteed asset of income to include in the list and it offers the trucking company the required funds that they sweated to earn.


The trucking business presents their invoices to the factoring company. The trucking factoring agency then receive the payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been adopted for several years by plenty of varying fields-- but none exceeding so than truckers. While you could miss out on a small part of the money, something like 1-3 % depending on who you partner with, it signifies that you are getting the resources today and can actually start off putting the money to function.


After all, an IOU or an invoice is definitely not going to cover bills, is it? For trucking enterprises when the income can be excellent one day and gone the next, it's up to the vehicle drivers to work smartly and to make certain they are leaving themselves with a notable volume of time and finance to get through the week till they are paid for once again.


So the next moment your trucking enterprise is bearing some momentary capital problems and you are spending excessive time chasing inactive paying clienteles, why not begin thinking of using a factoring businesses as a means to get your money and give yourself a more comfortable future in the eyes of your trucking workers and your bank difference?








Traditional Bank Loans


Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. 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. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.


What Are 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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to 'sell.' Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.


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


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


1. There is no debt. You don't 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 won't affect either your business credit rating or your personal credit rating. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.


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


3. Receive Your Money Faster. Using a Trucking Factoring company means that you'll get the finance quicker. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.


4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.


As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.


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





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