Medium-Size trucking businesses, especially those who have actually not been in existence for very long, will typically find it tough to secure a loan. Banks are often reluctant to lend cash to companies that do not have a great deal of income and assets. They also want proof of the practicality of a business and therefore need that the majority of operations, particularly little ones, been around for a specific amount of time prior to they are ready to hand over any cash. Due to the fact that of this, a medium-size company typically has few money producing choices when requires arise. One alternative available, however often neglected, is factoring. This is an outstanding way for a small company to acquire cash.
The Secret to Being Wealthy - Choose A Factoring Company Instead Of A Regular Bank Funding
How to Increase Money Flow Without Borrowing -Cash Money flow is one of the main reasons companies fail.
At one time or another, every business, even effective ones, have experienced bad money flow.
Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only places you can get financing. Other options are offered and you do not have to borrow. What is truck factoring ? One solution is called trucking factoring. Truck Factoring is the process of offering accounts receivable to a financier rather than waiting to collect the money from the
customer. Oh, the Irony- Truck factoring has a paradoxical distinction:
It is the financial
backbone of many of America's most effective companies. Why is this ironic ? Because receivable funding is not taught in business colleges, is rarely discussed in business plans and is fairly unknown to the majority of most of American company individuals.
Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of businesses to grow and prosper. Trucking Factoring has been around for thousands of years. Truck Factoring Companies are investors who pay cash for the right to receive the future payments on your invoices. An overdue receivable or invoice has value. It is a financial obligation your customer has to pay in the near future. Factoring Principals--Although factoring
offers solely with business-to-business transactions, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest definition of the word, these big customer finance companies are truly simply big Staffing Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge
it to your MasterCard. The shop gets paid almost immediately, even though you do not make payment until you are ready.
For this service, the charge card business charges XYZ Store a fee (typical common normal charges vary from two to 4 percent of the sale). The Advantages Receivable Loan Funding can provide numerous benefits to cash-hungry companies. Rather than wait 30, 60, 90 days or longer for payment on a product that has actually currently been delivered, a business can factor
(sell) its receivables for money at a little price cut
off the amount of
the invoice. Payroll, advertising efforts, and working capital are just a few of the company needs that can be met with instant cash.
Account Receivable Financing provides the means for a producer to renew inventory and make more items to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a money management device for manufacturers: Almost any type company can benefit from Accounts Receivable Factoring. Generally, 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 minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or this week s payroll with a client s invoice, but you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a fast and easy process. The factoring company buys the invoice at a price cut, typically a couple of portion
points less than the stated value of the invoice.
Birmingham (/'b?rm??h�m/ BUR-ming-ham) is the largest city in Alabama. The city is the county seat of Jefferson County. The city's population was 212,237 according to the 2010 United States Census. The Birmingham-Hoover Metropolitan Statistical Area had a population of about 1,128,047 according to the 2010 Census, which is approximately one quarter of Alabama's population.Birmingham was founded in 1871, during the post-Civil War Reconstruction period, through the merger of three pre-existing farm towns, notably, former Elyton. It grew from there, annexing many more of its smaller neighbors, into an industrial and railroad transportation center with a focus on mining, the iron and steel industry, and railroading. Birmingham was named for Birmingham, England, United Kingdom; one of the UK's major industrial cities. Many, if not most, of the original settlers who founded Birmingham were of English ancestry. In one writer's view, the city was planned as a place where cheap, non-unionized, and African-American labor from rural Alabama could be employed in the city's steel mills and blast furnaces, giving it a competitive advantage over industrial cities in the Midwest and Northeast.From its founding through the end of the 1960s, Birmingham was a primary industrial center of the South. The pace of Birmingham's growth during the period from 1881 through 1920 earned its nicknames The Magic City and The Pittsburgh of the South. Much like Pittsburgh, Birmingham's major industries were iron and steel production, plus a major component of the railroading industry, where rails and railroad cars were both manufactured in Birmingham. In the field of railroading, the two primary hubs of railroading in the Deep South were nearby Atlanta and Birmingham, beginning in the 1860s and continuing through to the present day. The economy diversified during the later half of the twentieth century. Though the manufacturing industry maintains a strong presence in Birmingham, other businesses and industries such as banking, telecommunications, transportation, electrical power transmission, medical care, college education, and insurance have risen in stature. Mining in the Birmingham area is no longer a major industry with the exception of coal mining. Birmingham ranks as one of the most important business centers in the Southeastern United States and is also one of the largest banking centers in the United States. In addition, the Birmingham area serves as headquarters to one Fortune 500 company: Regions Financial, along with five other Fortune 1000 companies.In higher education, Birmingham has been the location of the University of Alabama School of Medicine (formerly the Medical College of Alabama) and the University of Alabama School of Dentistry since 1947. Since that time it has also obtained a campus of the University of Alabama, University of Alabama at Birmingham (founded circa 1969), one of three main campuses of the University of Alabama System. It is also home to three private institutions: Sam University, Birmingham-Southern College, and Miles College. Between these colleges and universities, the Birmingham area has major colleges of medicine, dentistry, optometry, pharmacy, law, engineering, and nursing. The city has three of the state's five law schools: Cumberland School of Law, Birmingham School of Law, and Miles Law School. Birmingham is also the headquarters of the Conference, one of the major U.S. collegiate athletic conferences.From Birmingham's early days onward, the steel industry has always played a crucial role in the local economy. Though the steel industry no longer has the same prominence it once held in Birmingham, steel production and processing continue to play a key role in the economy. Steel products manufacturers also have a major presence in Birmingham. In recent years, local steel companies have announced about $100 million worth of investment in expansions and new plants in and around the city. Company, a major provider of crushed stone, sand, and gravel used in construction, is also based in Birmingham.
Montgomery /m?nt'g?m?ri/ is the capital of the U.S. state of Alabama and is the county seat of Montgomery County. Named for Richard Montgomery, it is located on the Alabama River, in the Gulf Coastal Plain. As of the 2010 Census, Montgomery had a population of 205,764. It is the second-largest city in Alabama, after Birmingham, and the 103rd largest in the United States. The Montgomery Metropolitan Statistical Area had a 2010 estimated population of 374,536. It is the fourth-largest in the state and 136th among United States metropolitan areas.The city was incorporated in 1819, as a merger of two towns situated along the Alabama River. It became the state capital in 1846, representing the shift of power to the south-central area with the growth of cotton as a commodity crop of the Black Belt and Mobile's rise as a mercantile port. In February 1861, Montgomery was selected as the first capital of the Confederate States of America, until the seat of government moved to Richmond, Virginia, in May of that year. During the mid-20th century, Montgomery was a major site of events in the African-American Civil Rights Movement, including the Montgomery Bus Boycott and the Selma to Montgomery marches.In addition to housing many Alabama government agencies, Montgomery has a large military presence due to Maxwell Air Force Base; public universities Alabama State University, Troy University (Montgomery campus), and Auburn University at Montgomery; private colleges/universities Faulkner University and Huntingdon College; high-tech manufacturing, Manufacturing Alabama; and cultural attractions such as the Alabama Shakespeare Festival and Montgomery Museum of Fine Arts.Two ships of the United States Navy have been named after the city, including USS Montgomery (LCS-8).Montgomery has won several national awards including being voted Best Historic City by USA Today, being named an All-America City in 2014 by the League, and being named the happiest city in Alabama. Montgomery has also been recognized nationally for its successful, and ongoing downtown revitalization and new urbanism projects with Montgomery having been one of he first cities in the nation to implement Smart Code Zoning.Montgomery's central location in Alabama's Black Belt makes it a processing hub for crops such as cotton, peanuts, and soybeans. In 1840 Montgomery County led the state in cotton production, and by 1911, the city processed 160,000�200,000 bales of cotton annually. Montgomery has long had large metal fabrication and lumber production sectors. Due to its location along the Alabama River and extensive rail connections, Montgomery has and continues to be a regional distribution hub for a wide range of industries and has diversified its economy in recent years with increased employment in sectors such as healthcare, business, government, and manufacturing. Today, the city's Gross Metropolitan Product is $12.15 billion, representing 8.7% of the Gross State Product of Alabama.
Mobile (/mo?'bi?l/ moh-BEEL) is the county seat of Mobile County, Alabama. The population within the city limits was 195,111 as of the 2010 United States Census, making it the third most populous city in the State of Alabama, the most populous in Mobile County, and the largest municipality on the Gulf Coast between New Orleans, Louisiana, and St. Petersburg, Florida.Alabama's only saltwater port, Mobile is located at the head of the Mobile Bay and the north-central Gulf Coast. The Port of Mobile has always played a key role in the economic health of the city beginning with the city as a key trading center between the French and Native Americans down to its current role as the 12th-largest port in the United States. Mobile is the principal municipality of the Mobile Metropolitan Statistical Area, a region of 412,992 residents which is composed solely of Mobile County and is the third-largest metropolitan statistical area in the state. Mobile is the largest city in the Mobile-Daphne-Fairhope CSA, with a total population of 604,726, the second largest in the state. As of 2011, the population within a 60-mile (100 km) radius of Mobile is 1,262,907.Mobile began as the first capital of colonial French Louisiana in 1702. During its first 100 years, Mobile was a colony of France, then Britain, and lastly Spain. Mobile first became a part of the United States of America in 1813, with the annexation of West Florida under President James Madison. It then left that union in 1861 when Alabama joined the Confederate States of America, which collapsed in 1865.As one of the Gulf Coast's cultural centers, Mobile has several art museums, a symphony orchestra, a professional opera, a professional ballet company, and a large concentration of historic architecture. Mobile is known for having the oldest organized Carnival celebrations in the United States. The festival began to be celebrated in the first decade of the 18th century, during the city's French colonial period. Mobile was also host to the first formally organized Carnival mystic society, known elsewhere as a krewe, to celebrate with a parade in the United States, beginning in 1830.Aerospace, steel, ship building, retail, services, construction, medicine, and manufacturing are Mobile's major industries. After experiencing economic decline for several decades, Mobile's economy began to rebound in the late 1980s. Between 1993 and 2003 roughly 13,983 new jobs were created as 87 new companies were founded and 399 existing companies were expanded.
Huntsville is a city located primarily in Madison County in the central part of the far northern region of the State of Alabama. Huntsville is the county seat of Madison County. The city extends west into neighboring Limestone County. Huntsville's population was 180,105 as of the 2010 census. The Huntsville Metropolitan Area's population was 417,593. Huntsville is the fourth-largest city in Alabama and the largest city in the five-county Huntsville-Decatur Combined Statistical Area, which at the 2013 census estimate had a total population of 683,871. In 2013, the Huntsville metropolitan area became the 2nd largest in Alabama with a population of 435,737.It grew across nearby hills north of the Tennessee River, adding textile mills, then munitions factories, NASA's Marshall Space Flight Center and the United States Army Aviation and Missile Command nearby at the Redstone Arsenal. The National Trust for Historic Preservation named Huntsville to its ""America's Dozen Distinctive Destinations for 2010"" list.Huntsville's main economic influence is derived from aerospace and military technology. Redstone Arsenal, Cummings Research Park (CRP), and NASA's Marshall Space Flight Center comprise the main hubs for the area's technology-driven economy. CRP is the second largest research park in the United States and the fourth largest in the world. University of Alabama in Huntsville is a center for technology and engineering research in the area. There are commercial technology companies such as the network access company , computer graphics company Intergraph and design and manufacturer of IT infrastructure. Telecommunications provider . is based in the city. manufactures and distributes DVDs and Discs out of their Huntsville plant. CI has a presence in the area. Fifty-seven Fortune 500 companies have operations in Huntsville.
Tuscaloosa (/t?sk?'lu?s?/ TUSK-?-LOO-s?) is a city in and the seat of Tuscaloosa County in west central Alabama (in the southeastern United States). Located on the Black Warrior River, it is the fifth-largest city in Alabama, with an estimated population of 95,334 in 2013. Founded in 1819, the city was named after Tuskaloosa, the chieftain of a Muskogean-speaking people who battled and was defeated by Hernando de Soto in 1540 in the Battle of Mabila, and served as Alabama's capital city from 1826 to 1846.Tuscaloosa is the regional center of industry, commerce, healthcare, and education for the area of west-central Alabama known as West Alabama. It is the principal city of the Tuscaloosa Metropolitan Statistical Area, which includes Tuscaloosa, Hale and Pickens counties and has an estimated metro population in 2013 of 235,628. Tuscaloosa is also the home of the University of Alabama, Stillman College and Shelton State Community College. While the city attracted international attention when enz announced it would build its first automotive assembly plant in North America in Tuscaloosa County, the University of Alabama remains the dominant economic and cultural engine in the city.Tuscaloosa has been traditionally known as the ""Druid City"" because of the numerous water oaks planted in its downtown streets since the 1840s. The city has also become well known nationally for the University of Alabama's success in sports, and particularly in football. City leaders adopted the moniker ""The City of Champions"" after the Alabama Crimson Tide football team won the National Championship game in 2010, 2012, and again in 2013. In 2008, the City of Tuscaloosa hosted the USA Triathlon trials for the Beijing Games.Although higher education is the bedrock of Tuscaloosa's economy, the city boasts an economy based on diverse sectors of manufacturing and service. Twenty-five percent of the labor force in the Tuscaloosa Metropolitan Statistical Area is employed by the federal, state, and local government agencies. 16.7% is employed in manufacturing; 16.4% in retail trade and transportation; 11.6% in finance, information, and private enterprise; 10.3% in mining and construction; and 9.2% in hospitality. Education and healthcare account for only 7.2% of the area workforce with the remainder employed in other services.
Hoover is a city in Jefferson and Shelby Counties in north central Alabama, in the United States. The largest suburb of Birmingham, the population of the city was 84,126 as of the 2013 US Census estimate. Hoover is part of the Birmingham-Hoover, AL Metropolitan Statistical Area and is also included in the Birmingham-Hoover-Talladega, AL Combined Statistical Area. Hoover�s neighborhoods and planned communities are located along the foothills of the Appalachian Mountains.Hoover is home to the Riverchase Galleria, one of the largest shopping centers in the Southeast and one of the largest mixed-use centers in the U.S. with 2.4 million square feet (222,967 m�) of total retail floor area. The Riverchase Galleria complex includes shopping, hotel, and office space. The Birmingham Minor League Baseball team, which traces its history to 1885, played its home games at the 10,800 seat Hoover Metropolitan Stadium until the team began playing home games at the Regions Field in downtown Birmingham in April 2013. brief professional baseball career was with the in 1994.The Riverchase Galleria shopping-hotel-office complex provides a large amount of tax money to the city as well as being home to many retail, hotel, and office workers. The Riverchase Office Park as well as other office parks and buildings throughout Hoover houses many large corporations. The Central Business District includes the US 31, SR 150, and US 280 locations. I-65 and I-459 intersect in the city. Major shopping centers in the city include Riverchase Galleria on US 31, Patton Creek on SR 150, and Village at Lee Branch on US 280.
Dothan /'do???n/ is a city located in the southeastern corner of the State of Alabama, situated approximately 20 miles (32 km) west of the Georgia state line and 18 miles (29 km) north of Florida. It is the seat of Houston County, with portions extending into nearby Dale County and Henry County. Its name derives from Genesis 37:17: ""let us go to Dothan."" According to the 2010 census the city's population was 65,496, making it the largest town in this part of the state.Dothan is the principal city of the Dothan, Alabama metropolitan area, which encompasses all of Geneva, Henry, and Houston counties; the small portion that lies in Dale County is part of the Ozark Micropolitan Statistical Area. The combined population for the entire Dothan metropolitan area in 2010 was 145,639. The city serves as the main transportation and commercial hub for a significant part of southeastern Alabama, southwest Georgia, and nearby portions of the Florida Panhandle. Since approximately one-fourth of the U.S. peanut crop is produced nearby, with much of it being processed in the city, Dothan is called ""The Peanut Capital of the World.""Dothan has a diverse economy. Agriculture is the largest industry, though retail sales and restaurants have experienced a rapid growth in recent years. Although peanut production remains a mainstay of the agricultural sector, cotton is gaining in importance. Tomato production is locally significant as well, especially in the nearby town of Slocomb, which styles itself ""the Tomato Capital of the World"".
Decatur is a city in Morgan and Limestone counties in the State of Alabama. The city, affectionately known as ""The River City"", is located in Northern Alabama on the banks of Wheeler Lake, along the Tennessee River. It is the largest city and county seat of Morgan County. The population in 2010 census was 55,683.Decatur is also the core city of the two-county large Decatur, Alabama Metropolitan Area which had an estimated population of 153,374 in 2013. Combined with the Huntsville Metropolitan Area, the two create the Huntsville-Decatur Combined Statistical Area, of which Decatur is the second largest city.Like many southern cities in the early 19th century, Decatur's early success was based upon its location along a river. Railroad routes and boating traffic pushed the city to the front of North Alabama's economic atmosphere. The city rapidly grew into a large economic center within the Tennessee Valley and was a hub for travelers and cargo between Nashville and Mobile, as well as Chattanooga and New Orleans. Throughout the 20th century, the city experienced steady growth, but was eclipsed as the regional economic center by the fast-growing Huntsville during the space race. The city now finds its economy heavily based on manufacturing, cargo transit, and hi-tech industries .Decatur has grown to be the busiest river port on the Tennessee River. The Port of Decatur sees large amounts of barge traffic from up and down the Tennessee River, which has led to twenty Fortune 500 companies opening plants in the city.
Auburn is a city in Lee County, Alabama, United States. It is the largest city in eastern Alabama with a 2013 population of 58,582. It is a principal city of the Auburn-Opelika Metropolitan Area. The Auburn-Opelika, AL MSA with a population of 150,933, along with the Columbus, GA-AL MSA and Tuskegee, Alabama, comprises the greater Columbus-Auburn-Opelika, GA-AL CSA, a region home to 501,649 residents.Auburn is a college town and is the home of Auburn University. Auburn has been marked in recent years by rapid growth, and is currently the fastest growing metropolitan area in Alabama and the nineteenth-fastest growing metro area in the United States since 1990. U.S. News ranked Auburn among its top ten list of best places to live in United States for the year 2009. The city's unofficial nickname is �The Loveliest Village On The Plains,� taken from a line in the poem The Deserted Village by Oliver Goldsmith: �Sweet Auburn! loveliest village of the plain...�Auburn's economy is centered on Auburn University and providing university-affiliated services. Auburn University employs 4,300 people, which is roughly one-quarter of the city's total workforce. In addition, 2,400 Auburnites are employed by the federal and state government in positions which are generally connected with the university. Some 8,500 are employed in service sector jobs.
Madison is a city located primarily in Madison County in the northern part of the State of Alabama. Madison extends west into neighboring Limestone county. The city is included in the Huntsville Metropolitan Area and is also included in the merged Huntsville-Decatur Combined Statistical Area. As of the 2010 census, the population of the city was 42,938. Madison's mayor is Troy Trulock.Madison's largest employer is graph, a computer software company based in Madison. They are currently working on a streetlight maintenance program. Thousands of Madison residents commute to Cummings Research Park and Redstone Arsenal in nearby Huntsville. Within the city limits, most of Madison's businesses are retail, with stores and fast-food restaurants lining US 72 to the north and Madison Boulevard to the south.
Florence is the county seat of Lauderdale County, Alabama, United States, in the northwestern corner of the state.According to the 2010 census, the city's population was 39,319.Florence is the largest and principal city of the Metropolitan Statistical Area known as ""The Shoals"" (which includes Muscle Shoals, Sheffield, and Tuscumbia metropolitan areas in Colbert and Lauderdale counties). Florence is considered the primary economic hub of northwestern Alabama.Florence is renowned for its annual tourism events, including W.C. Handy Music Festival in the summer, and the Renaissance Faire in the fall. Landmarks in Florence include the Rosenbaum House, the only Frank Lloyd Wright-designed home located in Alabama.The type of municipal government is mayor-council.
Gadsden is a city in and the county seat of Etowah County in the State of Alabama, and it is located on the Coosa River about 56 miles (90 km) northeast of Birmingham, Alabama and 90 miles (145 km) southwest of Chattanooga, Tennessee. It is the primary city of the Gadsden Metropolitan Statistical Area, which has a population of 103,931. As of the U.S. Census Bureau estimate in 2013, the population of the city was about 36,542. Gadsden and Rome, Georgia are the largest cities in the triangular area defined by the Interstate highways between Atlanta, Birmingham, and Chattanooga.Gadsden was at one time in the 19th century Alabama's second most important center of commerce and industry, trailing only the seaport of Mobile. The two cities were important shipping centers: Gadsden for riverboats and Mobile for international trade. Through the 1980s, Gadsden was a center on heavy industry, including the Tire and Rubber Company and the Steel Corporation.More than a decade after the sharp decline in industry, in 1991 Gadsden was awarded the honor of All-America City by the League, an award that honored the way Gadsden's citizens, government, businesses, and voluntary organizations work together to address critical local issues.
Vestavia Hills is a city in Jefferson and Shelby Counties in the State of Alabama. It is a suburb of the city of Birmingham. As of the 2010 census, its population is 34,033.
Prattville is a city in Autauga and Elmore counties in the State of Alabama. As of the 2010 census, the population of the city is 33,960. Nicknamed ""The Fountain City"" due to the many artesian wells in the area, Prattville is part of the Montgomery metropolitan statistical area and serves as the county seat of Autauga County. The city is northwest of Montgomery.
Phenix City is a city in Lee and Russell counties in the State of Alabama, and the county seat of Russell County. As of the 2010 census, the population of the city was 32,822.Phenix City is sometimes called a Hub City,[clarification needed] as it lies immediately west of Columbus, Georgia, which is a much larger city. It is included in the Columbus, Georgia-Alabama Metropolitan Statistical Area Columbus, Georgia metropolitan area, but a section is located in Lee County, and is, therefore, in the Auburn, Alabama metropolitan area in Alabama.In 2007, Week named Phenix City the nation's #1 Best Afable Suburb to raise a family.Currently, the mayor is Eddie N. Lowe, the city's first black mayor elected by the public. The city manager, who holds the task of organizational matters, is Wallace Hunter.
Alabaster is a city and southern suburb of Birmingham in Shelby County, Alabama, United States. At the 2010 census the population was 30,352. According to the 2013 Census Estimates, the city had a population of 31,342. Alabaster is still a growing population.
The United states Transportation Association
mentions that there are about
200,000 truck drivers with truck
276,000 personal companies trucking
firms accredited to
operate in the U.S. that transported,
according to their most current data of millions
items, supplies and
fundamental products .
There are a number of common
groups on our nation
roads transferring these
important products to our
stores, factories and ports.
Plus freight factoring
numerous of them and offer their
including the following states.
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
The state has invested in aerospace, education, health care, banking, and various heavy industries, including automobile manufacturing, mineral extraction, steel production and fabrication. By 2006, crop and animal production in Alabama was valued at $1.5 billion. In contrast to the primarily agricultural economy of the previous century, this was only about 1% of the state's gross domestic product. The number of private farms has declined at a steady rate since the 1960s, as land has been sold to developers, timber companies, and large farming conglomerates. Occupations outside of agriculture were widespread by 2008. Employment in that year was 121,800 in management occupations; 71,750 in business and financial operations; 36,790 in computer-related and mathematical occupation; 44,200 in architecture and engineering; 12,410 in life, physical, and social sciences; 32,260 in community and social services; 12,770 in legal occupations; 116,250 in education, training, and library services; 27,840 in art, design and media occupations; 121,110 in healthcare; 44,750 in fire fighting, law enforcement, and security; 154,040 in food preparation and serving; 76,650 in building and grounds cleaning and maintenance; 53,230 in personal care and services; 244,510 in sales; 338,760 in office and administration support; 20,510 in farming, fishing, and forestry; 120,155 in construction and mining, gas, and oil extraction; 106,280 in installation, maintenance, and repair; 224,110 in production; and 167,160 in transportation and material moving.[
Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� 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
Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen
EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!
Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs
If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.
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 Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.
Since the mid 1980s Gonzalez Truck & Haul have been successfully running their freight business. 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, Gonzalez 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. Cash was flowing and times were good for all.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, Gonzalez 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 Gonzalez, Joshua Jimenez, 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 things different, or wrong, when it came to collecting overdue accounts? When checking his bookkeeper's records this was definitely not 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 Gonzalez money had jumped ship and decided to leave him holding the bag.
. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Gonzalez hadn't gone elsewhere. They had just gone home.To Joshua Jimenez the situation looked desperate. Joshua 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 Martha 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.Joshua 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. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Joshua said. ""For way too long I've been relying solely on profits received from invoices. I've let too many of our customers go too long without paying on their bills."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.
""Joshua knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Joshua strolled into his office and was determined to sit down and make every phone call to every client who had owed Gonzalez money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. Wasting money, wasting time - even with the best of intentions, Joshua knew that he was in trouble.
Poor Joshua 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.
""Joshua, can I have a word?"" she asked standing in the doorway.
""Of course Kathryn, please come in."" Joshua leaned back in his chair and looked expectantly at Kathrynerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Joshua."" 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 of factoring?"" Kathrynerley asked.""It does sound vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.
Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Joshua interrupted.""Immediately, yes"" she added, ""it is actually very simple. 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.. 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,� Joshua said. �And then what?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.
This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Joshua was still a little concerned. He leaned forward in his chair and studied the paperwork very closely.""It sounds too good to be true, Kathryn,"" he said.""Now, now, I know, I thought the same thing. But think about it, Joshua: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Joshua,"" she drew a circle around a paragraph on the document before him.""How flexible?"" asked Joshua.""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 are 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 Joshua.He took a deep breath and looked at his secretary with something she recognized as hope.""Precisely�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Joshua took a moment to think about this solution, and agreed with his secretary. The clients who owed them money were long standing friends and professional resources of Gonzalez. They did not want to throw away these relationships because they were having trouble paying their bills now. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Kathryn, thank you."" Kathryn nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Joshua keep the shirt on his back, and possibly hers too.Joshua sat behind his desk and looked over the details Kathryn had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Gonzalez 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. Joshua was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Joshua was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""I must tell Herman the good news,"" Joshua muttered to himself.His son-in-law Herman had liked the idea of Gonzalez 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. At that time Joshua knew the struggles Herman would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Gonzalez was struggling then the little guys, like Herman, were going to be in even more trouble.
But, maybe the answer for both of them was in freight factoring, and Joshua 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 Joshua 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. Joshua recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.
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The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Kevin Lewis just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Kevin is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Lewis 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 Kevin's father had started this business working as an owner-operator and eventually growing Lewis Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Kevin�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Kevin�s hands and he wanted to live to see it in better shape for his sons.
To move Lewis 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 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. Every time he had to turn down a request, Lewis 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. Kevin 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?� 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. He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.
Kevin believed a successful man is always thinking of his next step. How would he take Lewis Trucking to the next level? And how would he be able to afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.
But was factoring the answer? If he was being honest, he did not 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 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.
Kevin had to really consider what his next step was going to be. 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! 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. Well, what was the point of going to a factoring company if there was shady business like that going on?
However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. 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 sounded like a great scheme to him.
For Kevin it was quite a relief to be dealing with the factoring company. 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 Kevin 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 would not have any problems, nor would they think poorly of Lewis 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.
Kevin 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 Lewis 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 would not be inheriting a financial mess.
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�So It is not a loan?� Reginald Hart 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.Reginald was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Clifton. His company was called Patterson Trucking, named after both of his grandfathers, Francisco and Roy. They had both been hardworking men, and had done a lot to make Reginald the same.Six months ago disaster struck Clifton's business when two out of his fleet of fifteen trucks were taken off the road.
One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. Reginald 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 Reginald had on hand.A big problem a lot of trucking companies came across was how bills were paid in the industry. 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.Reginald wasn�t a bad owner, and he hadn�t messed up. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.And that's why he found himself across the desk from this woman. Her name was Sherry 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.Sherry explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Reginald agreed. It sounded good to him, almost too good.Sherry 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.�Sherry smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Sherry said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.
Reginald filled the form out, with Sherry available to help him if he needed it. The completed profile gave Sherry and her company all the information they needed on Clifton'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 Reginald filled out his form, Sherry was pretty sure he was a perfect candidate for factoring.Sherry took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Clifton�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Reginald walked her to the door, and then returned to 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 Sherry 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 terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was still here; he knew this was the right path for him, and he felt proud that he had taken the appropriate steps to sort out his problems.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 long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create Patterson Trucking. And that's exactly what he did. Once again he built a company from the ground up. The business had been an instant success.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.
The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Clifton's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. He could be thankful later, for now, it was time to work.
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The reason why Truck Firms Employ Factoring Firms.
As the operator of your own company, you may well be more than mindful already of the challenge in making sure that capital concerns do not become a difficulty down the line. After all, the most horrible thing that can potentially come about for your establishment is to find yourself swept up in a long and problematic circumstance that leaves you forever searching for the finances you are in need of on an continuing manner.
For pretty much any establishment in this situation, the complication can come for waiting for work to clear up and actually be provided into your statement. Invoices, checks, and the like can take a while to actually to be taken care of which can easily leave you with temporary cash flow issues. The good news is, there are opportunities out there for firms to delve into-- and one of these is factoring providers.
Factoring firms will, in exchange for your bill of sales, offer you with the money immediately so you do not need to worry about the delaying period which could make paying off the expenses and acquiring toolsmore hard. With this type of setup, invoice factoring can become extremely helpful for lots of firms who have to get out of a money pitfall which they have found themselves in.
Due to the fact that, depending upon the size of the job, it can take up to 60 days for several companies to get paid out then it is vital to cover your own back and definitely not leave yourself funds short to pay off the expenses. After all, how many companies possess two months cash flow just occupying there to pay for all their expenses until they earn?
This is particularly true of truck firms. They have the tendency to manage good deals of accounts which means a notable quantity of collection time involves business owner themselves. Seeking to get paid off promptly can eventually become an extraordinary trouble and this is exactly why you use trucking factoring companies who are thrilled to help out truckers particularly.
As all of us understand, trucking is an incredibly enormous business with lots of agencies out there utilizing hundreds of operators. Regretfully, quite a few of these drivers end up in income troubles simply because they are still anticipating work from six weeks previously to actually pay them. When this is the scenario for a truck organization, consulting factoring agencies for reinforcement could be the most ideal choice left.
This signifies that a trucking firm can compensate the salaries of the people, keep all the vehicles filled with gas and continue to scale, rise and expand without continually waiting for the finances which is taking too lengthy to come in. Trucking Companies operating without a factoring system put in place are leaving themselves at notable danger, as competitors cash out rapidly and carry on to broaden.
There's absolutely not a thing to be stressed about when it comes to using a Factoring company-- they usually are not like a bank or any individual who is going to leave you with a considerable pile of liability to repay. You give them genuine invoices from job you have already finished , you are merely speeding up the repayment process.
In the United states of America, where trucking enterprises flourish, factoring firms are not considered taking on loan in any capacity. This confidential arrangement then permits both groups to benefit and take pleasure in a convenient future-- it gives the factoring business a guaranteed resource of profit to include in the list and it furnishes the trucking business the needed finances that they worked hard to get.
The trucking business gives their invoices to the factoring business. The trucking factoring provider then take the payment amounts from the trucking company's customers. Factoring has been in existence for centuries and has been utilized for several years by lots of diverse industries-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending on who you work with, it signifies that you are receiving the cash today and can actually start putting the resources to perform.
After all, an IOU or an invoice is not going to pay for overheads, is it? For trucking agencies when the finances can be great one day and gone the next, it is up to the drivers to work prudently and to make sure they are leaving themselves with a significant amount of time and finance to get through the week till they are compensated once again.
So the next moment your trucking business is bearing some temporary capital issues and you are spending way too much time chasing slow paying clienteles, why not start off considering making use of a factoring businesses as a manner to get your cash and give yourself a more comfortable future in the eyes of your trucking team and your bank dividend?
Bank loans are an extremely traditional way for a business to get financing. While these loans are handy they are not available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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 money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.
Benefits of a Trucking Factoring Company Vs. A Bank Loan
While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.
1. There is no debt. You do not 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 will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. 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 are not 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 is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.
3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.
4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So not only are you relieved of those monthly loan payments, but you also do not have to worry about the building up of interest, as every penny in the account is yours to spend on the business.
As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very 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.