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Here Is a Quick way to Shore Up Your Cash Flow -
Our Sale Of Accounts Receivable
Can Provide
Your Truck Company
The Money You Need



trucking factoring company

factoring services for trucking companies

freight factoring rates

freight bill factoring

Trucking Factoring is useful for a number of reasons. It enables a truck company to raise money without acquiring brand-new debt. While financial obligation is occasionally needed, most trucking companies would choose to raise money without borrowing money. Financial obligation is dangerous, and when it cannot be paid back, assets can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.

My Company has 9 New Products - Imagine - Pick 

An Invoice Factoring Company Instead Of A Typical Bank Funding

How to Increase Cash Flow Without Loaning -Cash Money flow is one of the main reasons companies fail.

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

Cash flow does not have to be an issue any more. Do not be deceived -- banks are not the only places you can get financing. Other options are available and you do not have to borrow. What is trucking factoring ? One solution is called sale of accounts receivable. Trucking Factoring is the process of selling invoices to a financier rather than waiting to collect the money from the client. Oh, the Irony- Truck factoring has a paradoxical distinction: It is the financial foundation of many of America's most effective companies. Why is this paradoxical ? Because receivable funding is not instructed in business colleges, is rarely mentioned in business strategies and is fairly unknown to bulk of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and succeed. Accounts Receivable Factoring has been around for countless years. Trucking Factoring Businesses are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has to pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest meaning of the word, these big consumer finance companies are really just large Commercial Factoring Companies of consumer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The shop gets paid practically instantly, even though you do not make payment until you are prepared.

For this service, the credit card company charges Sears a fee (typical common normal fees vary from 2 to four percent of the sale). The Benefits Staffing Factoring can offer numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has already been provided, a business can factor (sell) its receivables for money at a little price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are just a few of the business requirements that can be satisfied with instant  money.

Sale Of Accounts Receivable provides the ways for a producer to renew inventory and make even more products to offer: There is no longer a need to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management tool for manufacturers: Practically any type company can benefit from Invoice Factoring. Typically, a company that extends credit will have 10 to 20 percent of its annual sales bound in invoices 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 customer s invoice, however you can sell that invoice for the money to meet those obligations. Using trucking factoring companies is a quick and simple process. The factor purchases the invoice at a price cut, typically a couple of portion points less than the stated value of the invoice.



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freight factoring experts at
1 - 888-239-9162

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The American Trucking Organization
mentions that there are about
200,000 truck drivers with freight trucking
firms and
276,000 private companies trucking
companies accredited to
operate in America that transferred,
according to their newest data of millions
products, materials and
basic materials .
There are a number of common
providers either going solo or in
groups on our nation
roadways carrying these
vital products to our
shops, factories and ports.

Andfreight bill factoring
corporations aid
numerous of them and offer their
factoring facilities
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



Watch Our Freight Factoring Companies YouTube Videos For More Information


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

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.


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. 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 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




Lee 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 heady times from 2002 to 2007, Lee was a top rated accounts receivable mastermind of 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. The money was flowing, and times were great.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl


. Worse still, it was noticed by Lee in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Lee, Jason Daniels, 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 gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? 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 Lee 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. 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 Jason Daniels to have some very restless nights. Jason 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. At night he would speak to his wife Kimberly and shake his head in frustration.


""I have a bad feeling, Lin,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Jason would stare off into the distance, and then slowly close his eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Jason. ""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."" All Kimberly could do was hold his hand and look at him tenderly. 'We know it's a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Jason 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 Jason walked into his office with a spring in his step, determined to call each and every client who owed money to Lee Truck & Haul. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Jason was realising just how much trouble he was in.Poor Jason 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.


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


""Sure thing Judy, come on in."" Jason leaned back in his chair and looked expectantly at Judyerely.""Well Jason, this afternoon I did some research, trying to work out how we're going to get out of this mess."" 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?"" she 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.""Jason interrupted ""Immediately?"".""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.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.��I see,� Jason said. �And then what?��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. 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.�Leaning forward, Jason studied the documents very closely.""It sounds too good to be true, Judy,"" 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, Jason,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Jason.""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.


""""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. 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,"" Jason said.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we're facing due to these unpaid debts.""Jason thought about this and agreed with Judyerley. The customers who were in debt to Lee 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, Jason was very concerned about losing these relationships. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He didn't want to lose business but he also didn't want to lose any more money.""Well, let me think about this tonight Judy, thank you."" Judy nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Jason 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 Lee 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. Jason 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.""Well, I'll have to tell Marcus about this,"" muttered Jason to himself.His son-in-law Marcus had liked the idea of Lee so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Jason knew then what struggles Marcus would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Lee was hurting, a little guy like Marcus was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Jason was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Jason found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Jason recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. If Jason hadn't discovered freight factoring at just the right time, his business may not be operating today.





More Trucking Factoring Companies Story Articles

The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Jesse Flores 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. Flores Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.


More than forty years ago Jesse's father had started this business working as an owner-operator and eventually growing Flores Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Jesse�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Jesse�s hands and he wanted to live to see it in better shape for his sons.


To move Flores Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They all have families and the usual household bills. 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, Flores 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. Jesse allowed himself a good hard chuckle. His father had been against placing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.


Jesse knew he was right in his forward thinking. How would he take Flores 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 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. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company can't pay its employees and bills with invoices.


Now it was time for Jesse to do his homework. Jesse 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. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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 was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It sounded like a great scheme to him.


It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies 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 Jesse because he and his father had created a very strong and loyal list of clientele over the years. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn�t think poorly of Flores Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.


Jesse 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. He suddenly realized that, with this new cash flow, he could actually expand Flores Trucking Company and who knows, move into Canada, which had always been his dream. 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 wouldn't be inheriting a financial mess.




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Trucking Factoring  Articles

�So It is not a loan?� John Burns 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 stated.John Burns owned a small trucking company, and his business had recently fallen on difficult times. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Mike. He named his business Howell Trucking, named after Franklin and Carl, his two grandfathers. Both of these men had been very hardworking and had set a great example for Mike.Disaster had struck half a year ago, when two trucks in Mike�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. The financial security of Mike's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just didn't have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.John 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. Her name was Tina 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.Tina 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.John agreed. It sounded good to him, almost too good.Tina laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I actually thought I might end up losing my business.�Tina 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. We all need help sometimes. 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,� Tina said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.


John filled the form out, with Tina available to help him if he needed it. The completed profile gave Tina and her company all the information they needed on Mike's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As John completed his form, Tina listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Tina took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Mike�s hand. He stood before they shook as well, and then smiled. John walked Tina 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 had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. But now, after speaking to Tina and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. 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 Howell Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was nearing fifty. He was concerned that he just didn't have the energy left to try and save the business. 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, because of factoring, he was sure he wouldn�t have to. Mike's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.





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Precisely why Trucking Agencies Employ Factoring Firms.


As the operator of your own business enterprise, you may be much more than knowledgeable already of the difficulty in making certain that capital issues do not become a problem down the line. Anyway, the worst thing that can possibly happen for your establishment is to find yourself involved in a long and perplexing situation that leaves you forever trying to find the funds you necessitate on an continuous basis.


For virtually any enterprise in this scenario, the complication can come for waiting for work to lapse and actually be provided into your balance. Invoices, checks, and the like could take some time to actually to beprocessed which can easily leave you with short-term capital troubles. Luckily, there are alternatives out there for companies to examine-- and among these is factoring companies.


Factoring companies will, in exchange for your statements, provide you with the cash right away to ensure that you don't need to stress over the lingering time frame that could make paying out the expenses and obtaining toolsmore challenging. With this kind of system, invoice factoring can come to be extremely valuable for a lot of companies who need to get out of a cash lure which they have discovered themselves in.


Due to the fact that, depending upon the size of the job, it can take up to 60 days for many enterprises to get compensated then it's necessary to take care of your own back and definitely not leave yourself funds short to settle the costs. After all, how many business enterprises have two months cash flow just occupying there to cover all their overheads till they get paid?


This is most notably correct of truck companies. They often deal with good deals of invoices which means a notable volume of collection time entails business owner themselves. Seeking to get paid promptly can develop into an extraordinary headache and this is precisely why you make use of truck factoring companies who are thrilled to help out truckers particularly.


As all of us determine, trucking is an exceptionally enormous business with many agencies out there employing hundreds of operators. However, numerous of these drivers end up in finances predicaments since they are still expecting work from six weeks in the past to actually pay them. When this is the situation for a trucking agency, choosing factoring agencies for assistance might be the most suitable alternative left.


This implies that a trucking firm can pay the paychecks of the personnel, keep all the vehicles refilled with gas and continue to go up, rise and expand without constantly waiting for the cash which is taking too long to come in. Trucking Business enterprises operating without a factoring program used are leaving themselves at substantial risk, as contenders cash out quickly and carry on to develop.


There's honestly almost nothing to be troubled about when it comes to making use of a Factoring establishment-- they aren't like a financial institution or a person who is going to leave you with a huge mass of debt to repay. You give them authentic invoices from work you have already finished , you are simply accelerating the payment process.


In the United States, where trucking enterprises prosper, factoring providers are not considered borrowing in any capacity. This confidential contract then enables both groups to make money and delight in a comfortable future-- it gives the factoring firm a warranted asset of money to include in the list and it furnishes the trucking company the needed cash that they worked hard to generate.


The trucking company bestows their invoices to the factoring enterprise. The trucking factoring company then take the payments from the trucking company's customers. Factoring has beenaround for centuries and has been utilized for decades by lots of diverse fields-- but none more so than truckers. While you may miss out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are receiving the funds today and can actually begin putting the resources to work.


After all, an IOU or an invoice is not actually going to finance expenses, is it? For trucking enterprises when the cash can be really good one day and gone the next, it's up to the drivers to work smartly and to make sure they are leaving themselves with a substantial amount of time and money to get through the week until they are compensated once again.


So the next period your trucking establishment is enduring some short-term cash flow concerns and you are spending too much time chasing slowly paying clienteles, why not begin thinking of making use of a factoring companies as a method to get your money and give yourself a more comfortable future in the eyes of your trucking staff 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's usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.


Trucking Factoring Companies


Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of 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 don't incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating won't be affected. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.


2. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it'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. 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.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 not only are you relieved of those monthly loan payments, but you also don't have to worry about the building up of interest, as every penny in the account is yours to spend on the business.


As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a 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.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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