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Little Cash Flow Leaks That Keep Companies Poor -
Our Buy Receivables
Can Give
Your Freight Company
The Money Your Company Needs



freight bill factoring

trucking invoice factoring companies

transportation factoring solutions

trucking and factoring

Trucking Factoring is advantageous for numerous reasons. It enables a trucking business to raise cash without acquiring brand-new financial obligation. While financial obligation is sometimes essential, many trucking companies would like to raise money without borrowing money. Debt is dangerous, and when it can not be repaid, possessions can be repossessed. If the debt is huge enough, it could even require a truck companies out of business.

161 New Ways to Finance Your Company - in This fascinating - Select 

The Best Factoring Company Instead Of A Typical Bank Funding

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

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

Money 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 options are offered and you do not have to borrow money. Exactly what is truck factoring ? One option is called buy receivables. Trucking Factoring is the process of offering invoices to an investor instead of waiting to gather the money from the customer. Oh, the Irony- Trucking factoring has an ironic distinction: It is the financial backbone of many of America's most successful companies. Why is this ironic ? Since receivable financing is not taught in business colleges, is rarely discussed in business strategies and is fairly unknown to the majority of most of American business individuals.

Yet it is a financial process that releases up billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Loan Funding has actually been around for thousands of years. Receivable Loan Funding Companies are investors who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers solely with business-to-business transactions, a big percentage of the retail company utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail transactions. Using the purest definition of the word, these big consumer finance companies are really simply big Receivable Loan Funding Businesses of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop gets paid almost instantly, even though you do not make payment up until you are ready.

For this service, the charge card company charges Sears a fee (typical common normal charges vary from two to 4 percent of the sale). The Benefits Factoring can offer numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on a product that has currently been delivered, a company can factor (sell) its receivables for cash at a little price cut off the amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can be met with instant  cash.

Buy Receivables provides the means for a manufacturer to renew inventory and make more products to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for manufacturers: Almost any kind business can take advantage of Receivable Loan Funding. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, however you can offer that invoice for the money to satisfy those responsibilities. Using truck factoring companies is a fast and simple procedure. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.



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freight factoring specialists at
1 - 888-239-9162

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The American Transportation Association
mentions that there around
195,000 truck drivers with truck
firms and
250,000 personal providers trucking
firms certified to
run in the U.S. that transported,
according to their most current listings of millions of
products, supplies and
fundamental materials .
There are a number of typical
providers either going solo or in
groups on our country
roadways transporting these
important products to our
stores, manufacturing facilities and shipping ports.

Plusfreight factoring
businesses aid
many of them and offer their
factoring services
countrywide counting
including the following states.

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



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

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


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.


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.


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.


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

List of Trucking Companies for Owner/Operators and Company Drivers


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

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




Berry Truck and Haul has been in business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the boom times from 2002 to 2007 Berry Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Times were great for everyone, and the cash was flowing.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl


. And worse yet, Berry 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 Berry, Leo Hale, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. 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 Berry money had jumped ship and decided to leave him holding the bag.


. They couldn't 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 Berry hadn't gone elsewhere. They had just gone home.To Leo Hale the situation looked desperate. 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, Regina, and still find no relief from the worry and frustration.


""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Leo would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But 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 Leo. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Linda could only grab her husband's hand and look at him lovingly, ""It's a hard economy. It might be awhile until things get settled up.


""Leo knew very well that Regina was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Leo strolled into his office and was determined to sit down and make every phone call to every client who had owed Berry money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Leo knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Leo was realising just how much trouble he was in.Poor Leo 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.


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


""Sure thing Marie, come on in."" Leo relaxed back into his chair and looked up at Marieerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Leo."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" Marieerley asked.""It does sound 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?"" Leo interrupted.""Yes, immediately,"" she continued, ""It's actually very simple. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It provides a very broad view.��Leo replied cautiously ""I see - and what happens then?��Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leo was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Marie,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. They appear to be very flexible, Leo,"" she drew a circle around a paragraph on the document before him.""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. Apparently they can figure this all out in two to four days.


""""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. It's imperative that we keep the business rolling as usual, and every day we go unpaid we're getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Leo.Leo took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we're in with these folks who owe us money.""Leo took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Berry Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Leo was very concerned about losing these relationships. Leo 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 Marie, thank you."" Marie nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Leo sat behind his desk and looked over the details Marie had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Berry Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Berry could receive up to fifty-percent cash advances upon load pick-ups. Leo was a typical business man: he despised binding contracts that didn't allow room to breathe, so he was pleasantly surprised to see that the factoring company didn't require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Cecil about this,"" Leo muttered to himself.Cecil is Leo's son-in-law, and he really admired the ideas behind Berry, so much so that only two years before he had started his own transportation service business. Leo knew then what struggles Cecil would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Berry was hurting, a little guy like Cecil was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Leo found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Leo recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Leo hadn't discovered freight factoring at just the right time, his business may not be operating today.





More Trucking Factoring Companies Story Articles


Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Mitchell Hansen just sat there letting it ring. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Hansen Trucking Company was at a turning point of growth and Mitchell had to decide if signing with a factoring company was the right way forward.


Mitchell�s father had started as an owner-operator and had grown Hansen 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 Mitchell'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 Mitchell's hands and he needed to ensure that this business would be left in great shape for his sons.


There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. Every time he had to turn down a request, Hansen Trucking looked weak in a very strong market.


His father would have told him to wait and to take his time adding on new technology. Mitchell chuckled, thinking about his father. His father had been against placing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. 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.


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


He wondered about factoring - was this the answer for him? If he was being honest, he didn't really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.


Now it was time for Mitchell 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. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. 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. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.


It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Mitchell 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 wouldn't have any problems, nor would they think poorly of Hansen 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.


Mitchell 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, Mitchell could actually expand Hansen 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, this is not a loan?� Leo Howard 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.Leo was the owner of a small trucking company which had fallen on some hard times recently. Trucking could be a profitable business, and for a little under a decade, it had been for Nicholas. He named his business Marshall Trucking, named after Bradley and Earl, his two grandfathers. Both of these men had been very hardworking and had set a great example for Nicholas.Disaster had struck half a year ago, when two trucks in Nicholas�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. Leo depended on his full fleet, and missing two trucks was devastating . In addition, he just didn't 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Leo wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he couldn't possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Leo knew she was employed by a Factoring company and that her name was Nicole. Leo 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.Nicole 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. 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.Leo nodded. It sounded perfect - perhaps too good?.Nicole laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Nicole nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That's why we do what we do.��Well, I'm very grateful that you came to see me today.��It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Nicole with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.


Leo filled the form out, with Nicole available to help him if he needed it. The completed profile gave Nicole and her company all the information they needed on Nicholas's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Leo filled out his form, Nicole was pretty sure he was a perfect candidate for factoring.When the form was done Nicole took it and slid it into her briefcase. She then stood, reached across the desk and shook Nicholas�s hand. He stood before they shook as well, and then smiled. Leo walked Nicole to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Nicole 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.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 knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.Leo couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. 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 half a year off, and in that time he thought to start Marshall 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 nearing fifty. He didn�t think he had it in him, to save this company. But giving up wasn't part of his personality either.


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. Nicholas'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

The key reasons why Trucking Firms Make use of Factoring Firms.


As the owner of your own business, you may be much more than perceptive already of the difficulty in making sure that cash flow matters do not become a predicament down the line. Anyway, the toughest thing that can in all probability occur for your establishment is to find yourself dragged in a long and troublesome condition that leaves you forever searching for the funds you really need on an continuing manner.


For any sort of establishment in this predicament, the problem can come for waiting for work to lapse and actually be repaid into your account. Statements, checks, and the like could take some time to actually to be taken care of which can easily leave you with momentary cash flow problems. Fortunately, there are opportunities out there for establishments to investigate-- and among these is factoring firms.


Factoring agencies will, in substitution for your invoices, give you with the money today so that you don't have to fret about the waiting period which could make paying out the expenses and getting materialsmore complicated. With this sort of system, invoice factoring can end up being tremendously practical for countless businesses who ought to get out of a cash lure which they have discovered themselves in.


Because, depending on the size of the task, it can take up to 60 days for a number of enterprises to get paid then it's critical to take care of your own back and not leave yourself cash short to pay off the monthly bills. After all, how many companies have two months profits just occupying there to pay for all their spendings until they get paid?


This is especially true of trucking enterprises. They usually handle numbers of accounts which means a considerable volume of collection time entails company owner themselves. Making an effort to get paid out in time can develop into an incredible trouble and this is the key reasons why you work with trucking factoring companies who are pleased to help out truckers specifically.


As we all determine, trucking is an extremely large business with countless agencies out there utilizing hundreds of operators. Regrettably, numerous of these drivers land up in cash troubles since they are still anticipating work from six weeks ago to actually compensate them. When this is the case for a trucking organization, turning to factoring agencies for help may be the best option left.


This indicates that a trucking company can pay the wages of the workers, keep all the vehicles loaded with fuel and continue to scale, evolve and expand without consistently waiting for the funds which is taking too prolonged to come in. Trucking Companies running without a factoring program established are leaving themselves at critical risk, as competitors cash out rapidly and continue to grow.


There's honestly not a thing to be worried about when it comes to making use of a Factoring contractor-- they usually are not like a financial institution or somebody who is going to leave you with a large pile of financial debt to repay. You give them legitimate invoices from work you have already accomplished , you are only just facilitating the payment system.


In the United states of America, where truck agencies thrive, factoring firms are not considered getting a loan in any capacity. This confidential deal then lets both groups to profit and take pleasure in a comfortable future-- it gives the factoring firm a guaranteed resource of cash flow to put into the list and it furnishes the trucking business the required funds that they worked hard to gain.


The trucking enterprise gives their accounts to the factoring agency. The trucking factoring business then acquire the installment payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been used for long times by several diverse fields-- but none exceeding so than truckers. While you might lose out on a small part of the money, something like 1-3 % depending on who you partner with, it implies that you are getting the cash today and can actually start setting the funds to do work.


Anyway, an IOU or an invoice is definitely not going to cover expenses, is it? For trucking companies when the money can be good one day and gone the next, it's up to the vehicle drivers to work smartly and to ensure they are leaving themselves with a significant volume of time and money to get through the week till they are compensated again.


So the next period your trucking establishment is enduring some momentary cash flow challenges and you are shelling out way too much time chasing sluggish paying clienteles, why not begin looking at employing a factoring companies as a manner to get your cash and give yourself a more at ease future in the eyes of your trucking crew and your bank dividend?








Bank Loans


Bank loans are an extremely traditional way for a business to get financing. 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.


Trucking Factoring Companies


Trucking Factoring companies do not 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. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. In the event that your business fails, you wouldn't have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.


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


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


4.You receive interest up-front. 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, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The most important benefits is that once you sell your accounts receivable to the factory company, you don't have to take time away from running your business to collect the money owed from reluctant to pay customers. 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.


Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.





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