Small truck companies, especially those who have actually not been in existence for very long, will frequently find it tough to protect a loan. Banks are often hesitant to provide cash to businesses that do not have a lot of income and possessions. They also desire proof of the viability of a company and therefore need that many operations, especially small ones, be in business for a certain quantity of time before they are prepared to turn over any cash. Because of this, a small company frequently has a couple of money generating alternatives when needs emerge. One choice available, but typically overlooked, is receivable Financing. This is an exceptional means for a medium-size company to obtain cash.
Take This One Minute Test - Select A Trucking�Factoring Company Instead Of A Traditional Bank Funding
Exactly how to Enhance Cash Flow Without Loaning -Cash Money flow is among the main reasons companies fail.
At one time or another, every business, even effective ones, have experienced poor cash flow.
Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are available and you do not have to borrow. What is truck factoring ? One solution is called trucking factoring. Trucking Factoring is the procedure of selling accounts receivable to an investor rather than waiting to gather the money from the
client. Oh, the Irony- Trucking factoring has an ironic difference:
It is the financial
foundation of numerous of America's most successful companies. Why is this ironic ? Since factoring is not instructed in business colleges, is seldom discussed in company strategies and is relatively unidentified to bulk of most of American company individuals.
Yet it is a monetary process that releases up billions of dollars every year, allowing thousands of companies to grow and succeed. Commercial Factoring has actually been around for thousands of years. Factoring Companies are financiers who pay money for the right to receive the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your client has to pay in the near future. Factoring Principals--Although factoring
offers solely with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a type of factoring in their retail transactions. Using the purest definition of the word, these large customer finance business are truly simply big Invoice Factoring Businesses of customer paper. Consider it: You purchase at Sears and charge
it to your MasterCard. The store makes money practically instantly, even though you do not make payment until you are ready.
For this service, the credit card business charges XYZ Store a fee (typical common normal fees vary from two to 4 percent of the sale). The Advantages Accounts Receivable Factoring can offer 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 provided, a business can factor
(sell) its receivables for money at a small discount
off the dollar value of
the invoice. Payroll, marketing efforts, and working capital are simply a few of the company requirements that can be met with instant cash.
Staffing Factoring offers the means for a manufacturer to renew inventory and make 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 device for producers: Almost any type business can take advantage of Commercial Factoring. Typically, a business that extends credit
will have 10 to 20 percent
of its annual sales bound in accounts receivable at any given time. Think for a minute about how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, however you can offer that invoice for the money to satisfy those obligations. Using trucking factoring companies is a fast and easy procedure. The factoring company buys the invoice at a price cut, typically a couple of portion
points less than the stated value of the invoice.
Omaha /'o?m?h??/ is the largest city in the state of Nebraska, United States, and is the county seat of Douglas County. It is located in the Midwestern United States on the Missouri River, about 10 miles (16 km) north of the mouth of the Platte River. Omaha is the anchor of the Omaha-Council Bluffs metropolitan area, which includes Council Bluffs, Iowa, across the Missouri River from Omaha. According to the 2010 census, Omaha's population was 408,958, making it the nation's 42nd-largest city. According to the 2013 Population Estimates, Omaha's population was 434,353. Including its suburbs, Omaha formed the 60th-largest metropolitan area in the United States in 2013 with an estimated population of 895,151 residing in eight counties. The Omaha-Council Bluffs-Fremont, NE-IA Combined Statistical Area is 931,666, according to the U.S. Census Bureau's 2013 estimate. There are nearly 1.3 million residents within a 50-mile (80-km) radius of the city's center, forming the Greater Omaha area.Omaha's pioneer period began in 1854 when the city was founded by speculators from neighboring Council Bluffs, Iowa. The city was founded along the Missouri River, and a crossing called Lone Tree Ferry earned the city its nickname, the ""Gateway to the West."" It introduced this new West to the world when in 1898 it played host to the World's Fair, dubbed the Trans-Mississippi Exposition. During the 19th century, Omaha's central location in the United States spurred the city to become an important national transportation hub. Throughout the rest of the 19th century, the transportation and jobbing sectors were important in the city, along with its railroads and breweries. In the 20th century, the Omaha Stockyards, once the world's largest, and its meatpacking plants, gained international prominence.Today, Omaha is the home to the headquarters of five Fortune 500 companies:. Buffett, one of the richest people in the world, according to a decade's worth of Magazine rankings, some of which have ranked him as high as No. 1. Omaha is also the home to five Fortune 1000 headquarters: The modern economy of Omaha is diverse and built on skilled knowledge jobs. In 2009, identified Omaha as the nation's number one ""Best Bang-For-The Buck City"" and number one on ""America's Fastest-Recovering Cities"" list. Tourism in Omaha benefits the city's economy greatly, with the annual College World Series providing important revenue and the city's Henry Doorly Zoo serving as the top attraction in Nebraska. Omaha hosted the U.S. Olympic swim trials in 2008, 2012, and will host the event again in 2016.Notable modern Omaha inventions include the TV dinner, developed by Omaha's then-A character in a Rudyard Kipling essay claimed ""dice were invented in Omaha, and the man who invented 'em, he made a colossal fortune."" A historic preservation movement in Omaha has led to a number of historic structures and districts being designated Omaha Landmarks or listed on the National Register of Historic Places. Much of the push toward preservation came after Omaha gained the notorious designation of having, in 1989, demolished the largest-ever National Register historic district in the United States, a record that still stands as of 2013. The Jobbers Canyon Historic District, along the Missouri River, was felled for a new headquarters campus for ConAgra Foods, a company which threatened to relocate if Omaha did not allow them to raze the city's historic district. The Jobber's Canyon warehouses had before then been allowed to deteriorate and were the scene of several fires set by the homeless population that had come to live in the abandoned buildings. At the time, there were no plans in place for revitalizing the buildings.Since its founding, ethnic gro in the city have clustered in enclaves in north, south and downtown Omaha. In its early days, the sometimes lawless nature of a new frontier city included crime, such as illicit gambling and riots.Today, the diverse culture of Omaha includes a variety of performance venues, museums, and musical heritage, including the historically significant jazz scene in North Omaha and the modern and iuential ""Omaha Sound"".Sports have been important in Omaha for more than a century, and the city currently plays host to three minor-league professional sports teams. It is perhaps more known as the home of the College World Series, to which it has played host since 1950. The Kings, an franchise, called Omaha and Kansas City home from 1972 to 1978. The Kansas City-Omaha Kings split their time between the two cities, playing at Kansas City's Municipal Auditorium and the Omaha Civic Auditorium, before decamping solely to Kansas City until 1985, when the team moved to its current home of Sacramento.According to USA Today, Omaha ranks eighth among the nation's 50 largest cities in both per-capita billionaires and Fortune 500 companies. With diversification in several industries, including banking, insurance, telecommunications, architecture/construction, and transportation, Omaha's economy has grown dramatically since the early 1990s. In 2001 identified Omaha as one of the Top 10 high-tech havens in the nation. Six national fiber optic networks converge in Omaha.
Lincoln, located in the southeastern part of the State of Nebraska, is the capital and the second-most populous city of Nebraska. Lincoln is also the county seat of Lancaster County and makes up part of the Lincoln metropolitan area. Lincoln's population in 2013 was estimated at 268,738.Lincoln was founded as the village of Lancaster on the salt flats of what was to become Lancaster County. A short time later, Lancaster was renamed Lincoln and became Nebraska's capital. Sometimes referred to as the ""Star City"", many of Lincoln's primary employers fall within the services industries. The city is the home of the University of Nebraska, has an unemployment rate of 2.0% (November 2014, preliminary) and has the second tallest capitol building in the United States.Lincoln's economy is fairly typical of a mid-sized American city; most economic activity is derived from service industries. Government and the University of Nebraska-Lincoln are both large contributors to the local economy. Other prominent industries in Lincoln include finance, insurance, publishing, manufacturing, pharmaceutical, telecommunications, railroads, medical, information technology, education and truck transport. For November 2014, Lincoln's preliminary unemployment rate was 2.0% (not seasonally adjusted).
Bellevue (French for ""beautiful view"") is a city in Sarpy County, Nebraska, United States. The population was 50,137 at the 2010 census. Eight miles south of Omaha, Bellevue is part of the Omaha-Council Bluffs metropolitan area. Originally settled in the 1830s, Bellevue was incorporated in 1855 and is the oldest continuous town in Nebraska. The Nebraska State Legislature has credited the town as being the second oldest settlement in Nebraska. It was once the seat of government in Nebraska.
Grand Island is a city in and the county seat of Hall County, Nebraska, United States. The population was 48,520 at the 2010 census.Grand Island is the principal city of the Grand Island metropolitan area, which consists of Hall, Merrick, Howard and Hamilton counties. The Grand Island metropolitan area has an official population of 83,472 residents.Grand Island has been given the All-America City Award three times (1955, 1967, and 1981�82) by the National Civic League.Grand Island is home to the Nebraska Law Enforcement Training Center (NLETC) which is the sole agency responsible for training law enforcement officers throughout the state, as well as the home of the Southern Power District serving southern Nebraska.
Kearney /'k?rni/ is a city in and the county seat of Buffalo County, Nebraska, United States. The population was 30,787 at the 2010 census. It is home to the University of Nebraska-Kearney.
Fremont is a city in Dodge County in the eastern portion of the state of Nebraska in the Midwestern United States. The population was 26,397 at the 2010 census. Fremont is the county seat.Fremont has its roots in agriculture and is still an agribusiness community, with the typical skyline of grain silos and elevators. It is also home to several industries; the nationally known meat-packing company, AM, is the largest employer in town. The city also has wk boxes, nus Metals. Other large employers include the Fremont Area Medical Center and the local newspaper, the Fremont Tribune. The three major industrial sectors in Fremont are food processing, metal fabrication, and teleservices.
Hastings is a city in and the county seat of Adams County, Nebraska, United States. It is the principal city of the Hastings, Nebraska Micropolitan Statistical Area, which consists of Adams and Clay counties. The population was 24,907 at the 2010 census. It is known as the town where Aid was invented by Edwin Perkins in 1927, and celebrates that event with the Aid Days festival every August. Hastings is also known for Fisher Fountain, and during World War II operated the largest Naval Ammunition Depot in the United States. A National Weather Service Forecast Office is located there, serving central and south-central Nebraska and six counties in north-central Kansas. On June 24, 2007, Hastings won Greenest City in America competition.
North Platte is a city in and the county seat of Lincoln County, Nebraska, United States. It is located in the southwestern part of the state, along Interstate 80, at the couence of the North and South Platte Rivers forming the Platte River. The population was 24,733 at the 2010 census.North Platte is a railroad town; Union Pacific Railroad's large Bailey Yard is located within the city. Today, North Platte is served only by freight trains, but during World War II the city was famous for the North Platte Canteen. Tens of thousands of volunteers from North Platte and surrounding towns met the troop trains passing through North Platte, offering coffee, sandwiches and hospitality.North Platte is the principal city of the North Platte Micropolitan Statistical Area, which includes Lincoln, Logan, and McPherson counties.
Norfolk is a city in Madison County, Nebraska, United States, 113 miles northwest of Omaha and 83 miles west of Sioux City at the intersection of U.S. Routes 81 and 275. The population was 24,210 at the 2010 census, making it the ninth-largest city in Nebraska. It is the principal city of the Norfolk Micropolitan Statistical Area.Norfolk is the principal retail center of northeastern Nebraska. Other significant elements of the local economy include agriculture, manufacturing, and services including education and health care.
Columbus is a city in and the county seat of Platte County, in the state of Nebraska in the Midwestern United States. The population was 22,111 at the 2010 census.Columbus's economy is based on agriculture and manufacturing, with many industrial companies attracted by cheap, plentiful hydroelectric power. Major manufacturing employers include , a medical products company that operates two facilities in Columbus; Manufacturing, which produces steel buildings, grain bins, and agricultural equipment; , a manufacturer of automotive seat frames; , which operates a ground-beef processing plant; , which runs a corn-milling facility; and Electronics, a subsidiary of Vishay Intertechnology that produces electronic components. Major non-manufacturing employers include Nebraska Public Power District, which is headquartered in Columbus; Columbus City Schools; and Columbus Community Hospital.
Papillion is a city in Sarpy County in the State of Nebraska. It is an 1870s railroad town that is part of the larger five-county metro area of neighboring Omaha, and is the county seat of Sarpy County. The population of Papillion was 18,894 at the 2010 census.Papillion has been nationally recognized by a number of publications: 2013 by Business Week as the Best Place to Raise Kids in Nebraska; 2012 by Livability.com as #1 in their Top Small Towns in America; 2011 by Magazine as the 5th Best Place to Live (small community) in the United States; 2010 by as the 2nd Most Affordable Place to Live in America; 2009 by Magazine as the 3rd Best Place to Live (small community) in the United States and also the #14 Most Affordable Place to Live in the United States; and 2007 Magazine as the 6th Best Place to Live (small community).The median listing price for single family homes is $254,780, slightly higher than the national median home price of $221,800.
La Vista is a city in Sarpy County, Nebraska, United States. The population was 19,000 at the 2014 census. The city was incorporated in 1960 and is the newest city in the state. La Vista is a suburb of Omaha, Nebraska and is one of the fastest growing cities in the state. La Vista is part of the Papillion-La Vista School district. La Vista students attend the Papillion-La Vista High School and there is La-Vista Junior High and several grade schools serving the city. La Vista is bordered by the cities of Omaha and Ralston on the north, Papillion on the south, Bellevue on the east and Interstate 80 on the west, where the city recently annexed large new areas devoted to commercial and retail developments. La Vista is Sarpy County's third largest city, after Bellevue and Papillion, the county seat.
Scottsbluff is a city in Scotts Bluff County, in the western part of the state of Nebraska, in the Great Plains region of the United States. The population was 15,039 at the 2010 census. Scottsbluff is the largest city in the Nebraska Panhandle, and the 13th largest city in Nebraska.Scottsbluff was founded in 1899 across the North Platte River from its namesake, a bluff that is now a U.S. National Park called Scotts Bluff National Monument. The smaller town of Gering had been founded south of the river in 1887. The two cities have since grown together to form the 7th largest urban area (Scottsbluff Micropolitan Statistical Area) in Nebraska.The nearby Western Nebraska Regional Airport (BFF) is the third-busiest airport in Nebraska in terms of passenger boardings.
South Sioux City is a city in Dakota County, Nebraska, United States. It is located immediately across the Missouri River from Sioux City, Iowa, and is part of the Sioux City, IA-NE-SD Metropolitan Statistical Area. As of the 2010 census, the city population was 13,353, making it the 14th largest city in Nebraska.
Beatrice (/bi?'�tr?s/ bee-AT-r?ss) is a city in and the county seat of Gage County, Nebraska. The population was 12,459 at the 2010 census. Beatrice is located 40 miles (64 km) south of Lincoln on the Big Blue River. It is surrounded by agricultural country.
Lexington is a city in Dawson County, Nebraska, United States. The population was 10,230 at the 2010 census. It is the county seat of Dawson County. Lexington is located in southern Nebraska, on the Platte River, southeast of North Platte. It sits along the route of U.S. Route 30 and the Union Pacific Railroad. In the 1860s it was the location of a stop along the Pony Express.Lexington is the principal city of the Lexington, Nebraska Micropolitan Statistical Area, which consists of Dawson and Gosper counties.The town is noted for its relatively high proportion of Hispanic-Americans for central Nebraska (over 50% of the town population), reflected in the Spanish language-businesses in downtown and along U.S. 30.
Alliance is a city in Box Butte County, in the northwestern part of the state of Nebraska, in the Great Plains region of the United States. Its population was 8,491 at the 2010 census. It is the county seat of Box Butte County.Alliance is the home to Carhenge, a replica of Stonehenge constructed with automobiles, which is located north of the city.
Gering is a city in Scotts Bluff County, Nebraska, United States. It is part of the Scottsbluff, Nebraska Micropolitan Statistical Area. The population was 8,500 at the 2010 census. It is the county seat of Scotts Bluff County.
Blair is a city in and the county seat of Washington County, Nebraska, United States. The population was 7,990 at the 2010 census. Blair is a part of the Omaha-Council Bluffs Metropolitan Statistical Area.
York is a city and county seat of York County, Nebraska, United States. As of the 2010 census, the city population was 7,766. It is the home of York College and the Nebraska Correctional Center for Women. York was platted in 1869.
McCook is a city and county seat of Red Willow County, Nebraska, United States. The population was 7,698 at the 2010 census.
Nebraska City is a city and county seat of Otoe County, Nebraska, United States. As of the 2010 census, the city population was 7,289.The Nebraska State Legislature has credited Nebraska City as being the oldest incorporated city in the state, as it was the first approved by a special act of the Nebraska Territorial Legislature in 1855.Nebraska City is home of Arbor Day, the Missouri River Basin Lewis and Clark Center (which focuses on the natural history achievements of the expedition), and the Mayhew Cabin, the only site in the state recognized by the National Park Service as a station on the Underground Railroad.
Ralston is a city in Douglas County, Nebraska, United States. The population was 5,943 at the 2010 census. Ralston is surrounded on three sides by Omaha, Nebraska but is a separate city.
Crete is a city in Saline County, Nebraska, United States. The population was 6,960 at the 2010 census.
Seward is a city and county seat of Seward County, Nebraska, United States. The population was 6,964 at the 2010 census. Seward is part of the Lincoln, Nebraska Metropolitan Statistical Area. It is known for its large Fourth of July celebration.
Sidney is a city and county seat of Cheyenne County, Nebraska, United States. The population was 6,757 at the 2010 census.
Plattsmouth is a city and county seat of Cass County, Nebraska, United States. The population was 6,502 at the 2010 census.
Schuyler is a city in Colfax County, Nebraska, United States. The population was 6,211 at the 2010 census. It is the county seat of Colfax County. The city (as well as the county) is named after former Vice President of the United States, Schuyler Colfax. Every year Schuyler has a fair with cars show and carnival rides.Schuyler's single largest employer is the beef-processing plant, with approximately 2000 employees. Other major employers include Schuyler Community Schools, with 245 employees; Alegent Health Memorial Hospital, with 82 full-time and 31 part-time employees; and QC Supply, a manufacturer and distributor of farm and ranch supplies with 75 full-time employees.
Chadron (/'?�dr?n/ SHAD-r?n) is a city in Dawes County, in the state of Nebraska in the Great Plains region of the United States. The population was 5,851 at the 2010 census. It is the county seat of Dawes County, and the location of Chadron State College.Chadron also is the United States Forest Service headquarters of the Nebraska and Samuel R. McKelvie National Forests, and the Buffalo Gap, Fort Pierre, and Oglala National Grasslands. The Museum of the Fur Trade is located near Chadron, at the site of the American Fur Company's former Bordeaux Trading Post.Chadron is located near the Pine Ridge Indian Reservation of the Oglala Lakota in South Dakota, and its businesses serve many of the reservation's residents.
Gretna is a city in Sarpy County, Nebraska, United States. The population was 4,441 at the 2010 census. Gretna has the fastest rate of growth of any Nebraska city since 2000.
Wayne is a city in Wayne County, Nebraska, United States. The population was 5,660 at the 2010 census. It is the county seat of Wayne County and the home of Wayne State College.
Holdrege is a city in Phelps County, Nebraska, United States. The population was 5,495 at the 2010 census. It is the county seat of Phelps County.
Ogallala is a city in Keith County, Nebraska, United States. The population was 4,737 at the 2010 census. It is the county seat of Keith County. In the days of the Nebraska Territory, the city was a stop on the Pony Express and later along the transcontinental railroad. The Ogallala Aquifer was named after the city.
Wahoo (Dakota: wghu; ""arrow wood"") is a city and county seat of Saunders County, Nebraska, United States. The population was 4,508 at the 2010 census.
Aurora is a city in Hamilton County, Nebraska, United States. The population was 4,479 at the 2010 census. It is the county seat of Hamilton County.
Falls City is a city and county seat of Richardson County, Nebraska, United States. The population was 4,325 at the 2010 census, down from 4,671 in 2000.
Cozad is a city in Dawson County, Nebraska, United States. The population was 3,977 at the 2010 census. The town is on the Great Plains of central Nebraska, along the Union Pacific Railroad and U.S. Highway 30, just north of the Platte River. The 100th meridian, which roughly marks the eastward boundary of the arid plains, passes just west of the town as is marked nearby on a prominent sign across U.S. Highway 30. In the early 1860s, it was a stop along the Pony Express.Cozad is part of the Lexington, Nebraska Micropolitan Statistical Area.
Fairbury is a city and county seat of Jefferson County, Nebraska, United States. The population was 3,942 at the 2010 census.Fairbury has been closely connected with railroading for much of its history. It was founded on the projected route of a railway, and grew as a shipping center. For nearly 80 years, it was the location of the Western Division headquarters of the Rock Island Railroad. Fairbury prospered with the Rock Island, and lost business and residents as the railroad declined.Thirteen manufacturing plants, with a total of 475 employees, are located in and near Fairbury. The largest among these are Endicott Clay Products, producing brick and tile in nearby Endicott, with 200 employees; Prairie View Industries, producing stainless steel and aluminum handicap ramps and food service equipment, with 80 employees; Fairbury Food Products, with 54 employees; and Tetra Micronutrients, manufacturing micronutrients for use in fertilizer and animal feed, with 47 employees. Other major local employers include Jefferson Community Health Center (193 employees), Fairbury Public Schools (154 employees), the City of Fairbury (120 employees), Farmers Co-op Elevator Co. (118 employees), and Heritage Nursing Home (90 employees).
O'Neill is a city in Holt County, Nebraska, United States. The population was 3,705 at the 2010 census. It is the county seat of Holt County.
Waverly is a city in Lancaster County, Nebraska, United States. It is part of the Lincoln, Nebraska Metropolitan Statistical Area. The population was 3,227 at the 2010 census.
Gothenburg is a city in Dawson County, Nebraska, United States. It is part of the Lexington, Nebraska Micropolitan Statistical Area. The population was 3,574 at the 2010 census.
Broken Bow is a city in Custer County, Nebraska, United States. The population was 3,559 at the 2010 census. It is the county seat of Custer County.Nebraska's largest cattle feedlot, the Adams Land and Cattle south lot, with a capacity of 85,000 head, is located 2 miles south of Broken Bow. In the past, some locals have feared the potential of environmental damage from the feedlot, but the state's environmental agency has found the company in compliance with state standards.
Auburn is a city in Nemaha County, Nebraska, United States, and its county seat. The population was 3,460 at the 2010 census.
West Point is a city in and the county seat of Cuming County, Nebraska, United States. The population was 3,364 at the 2010 census.
Minden is a city in Kearney County, Nebraska, United States. The population was 2,923 at the 2010 census. It is the county seat of Kearney County. It has possessed a post office since 1876.Minden is part of the Kearney, Nebraska Micropolitan Statistical Area.
Central City is a city in Merrick County, Nebraska, United States. It is part of the Grand Island, Nebraska Micropolitan Statistical Area. The population was 2,934 at the 2010 census. It is the county seat of Merrick County.
David City is a city in Butler County, Nebraska, United States. The population was 2,906 at the 2010 census. It is the county seat of Butler County.
Valentine is a city in Cherry County, Nebraska, United States. The population was 2,737 at the 2010 census. It is the county seat of Cherry County.
Ashland is a city in Saunders County, Nebraska, United States. The population was 2,453 at the 2010 census.
Kimball is a city and county seat of Kimball County, Nebraska, United States. The population was 2,496 at the 2010 census.
Madison is a city in and the county seat of Madison County, Nebraska, United States. The population was 2,438 at the 2010 census.The largest single employer in Madison is the Tyson Fresh Meats pork-processing plant, with 1,200 full-time employees. Other major employers are Countryside Home, a nursing home with 93 full-time and 51 part-time employees; Madison City Schools, with 97 full-time employees; and Industries, a manufacturer of wood pallets w"
The American Transportation Association
specifies that there are about
200,000 truck drivers with freight trucking
300,000 private service providers trucking
companies licensed to
operate in the United States that carried,
according to their most current data of millions
items, supplies and
standard products .
There are numerous usual
groups on our nation
highways transferring these
vital items to our
shops, manufacturingplants and ports.
Furthermore freight invoice factoring
numerous of them and offer their
receivables financing services
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 Bureau of Economic Analysis estimates of Nebraska's gross state product in 2010 was $89.8 billion. Per capita personal income in 2004 was $31,339, 25th in the nation. Nebraska has a large agriculture sector, and is an important producer of beef, pork, corn (maize), soybeans, and sorghum. Other important economic sectors include freight transport (by rail and truck), manufacturing, telecommunications, information technology, and insurance. Agriculture is Nebraska's dominant occupational pursuit. The state's chief farm products are cattle, corn, hogs, soybeans, and wheat. Nebraska ranked second among the states in cattle production in 1997. Wheat farming flourishes on the southwest plateaus, while irrigation along the Platte and its tributaries has increased the sugar-beet crop. The Univ. of Nebraska maintains agricultural experiment stations throughout the state. A program of soil conservation includes a shelter belt running across the state to check the effect of wind erosion, and dryland-farming techniques have been encouraged. Forest conservation is stressed, and the state (the birthplace of Arbor Day) has been very active in planting forests.
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
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.
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
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
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
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
Since the mid 1980s James Truck & Haul have been successfully running their freight business. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the heady times from 2002 to 2007, James 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, James had noticed during the early part of 2008 that though the bulk of their clients were always on time with payments, the few late-bloomers there were, had seemingly started to spread this illness. And as spring turmed to summer and summer into the early days of fall, Fred Crawford, CEO of James felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? When checking his bookkeeper's records this was definitely not the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. Perhaps they were unable to pay their debt to him, but were able to meet the costs of a lesser service. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of James hadn't gone elsewhere. The had just gone!.The situation looked dire to Fred Crawford. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Kathy, and still find no relief from the worry and frustration.
""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Fred would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them on the road, delivering good to all his loyal customers. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What on earth was happening to create the death of his business?""I think I know what it could be,"" said Fred. ""I've relied too long on the profits I receive from invoices alone. I've let too many of our customers go too long without paying on their bills."" Kathy would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Fred knew very well that Kathy was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The following day Fred walked into his office with a spring in his step, determined to call each and every client who owed money to James 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. Wasting money, wasting time - even with the best of intentions, Fred knew that he was in trouble.
Poor Fred 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.
""Can I have a word with you Fred?"" she asked standing in the doorway.
""Sure thing Sheila, come on in."" Fred leaned back in his chair and looked expectantly at Sheilaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Fred."" 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?"" Sheilaerley asked.""It does sound vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.
Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Fred interrupted ""Immediately?"".""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. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Fred replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. We come to an agreement and the funding starts pouring out.�Leaning forward, Fred studied the documents very closely.""It sounds too good to be true, Sheila,"" he said.""Yes, I know; that's exactly what I thought at the beginning. 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. And they're flexible Fred,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Fred.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. Apparently they can figure this all out in two to four days.
""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. 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,"" Fred said.Fred took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Fred thought about this and agreed with Sheilaerley. The clients who owed them money were long standing friends and professional resources of James. Fred wasn't prepared to lose these relationships just because they were having financial issues at the moment. Fred knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. He did not want to lose business but he also did not want to lose any more money.""Well, let me think about this tonight Sheila, thank you."" Sheila nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Fred sat behind his desk and looked over the details Sheila had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help James Truck & Haul 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. Fred was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Fred was a typical business man: he despised binding contracts that did not allow room to breathe, so he was pleasantly surprised to see that the factoring company did not require a long term contract, that there was no minimum volume required, and that there were no sign-up fees.""Well, I'll have to tell Dwight about this,"" muttered Fred to himself.Dwight is Fred's son-in-law, and he really admired the ideas behind James, so much so that only two years before he had started his own transportation service business. Fred knew then what struggles Dwight would face but he encouraged him nonetheless. With the faltering economy, if a big fish like James was hurting, a little guy like Dwight was about to catch his death. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Fred found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They used that time to refocus their efforts in being competitive in new territories. Fred 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.
More Trucking Factoring Companies Story Articles
The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Walter Mitchell just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Walter is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Mitchell Trucking Company was at a turning point of growth and Walter had to decide if signing with a factoring company was the right way forward.
Walter�s father had started as an owner-operator and had grown Mitchell Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Walter�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 Walter�s hands and he wanted to live to see it in better shape for his sons.
To move Mitchell Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Mitchell Trucking look inefficient and weak in what was currently a strong market.
His father would have told him to wait and to take his time adding on new technology. Walter chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� Also his father had the habit of teasing all the drivers he caught switching into automatic even though driving in automatic was much more efficient though not manly in his father�s eyes. His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.
Walter knew he was right in his forward thinking. What would be the next step for Mitchell Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.
He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. The factoring company gives the trucking business its payment right away which allows the business to have continuous cash flow so it can pay employees, buy fuel, and make repairs for upcoming hauls. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.
Now it was time for Walter to do his homework. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. 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! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. 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. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. 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.
For Walter it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Walter because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Mitchell Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.
Feeling happier now, Walter stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Walter could actually expand Mitchell Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.
�So It is not a loan?� asked Peter Cox, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Peter Cox 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 Rodney. His company was called Ray Trucking, named after both of his grandfathers, Brian and Bernard. They had both been hardworking men, and had done a lot to make Peter the same.Disaster had struck half a year ago, when two trucks in Rodney�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 Rodney's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.Paying of bills in the trucking industry is always a major cause for concern for businesses.
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.Peter was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Peter knew she was employed by a Factoring company and that her name was Elizabeth. Peter had come across her company as he sat in his office late one night, pouring over the internet for some solution to his problem long after his employees had gone home.She sat there now, and explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. 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.Peter agreed. It sounded good to him, almost too good.The woman 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.�Elizabeth nodded. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Elizabeth with a smile. �Let's work out a solution to your problem.�And right there and then they created a business profile. Peter filled the form out, with Elizabeth available to help him if he needed it. The profile filled Elizabeth and her company in on Rodney�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Peter completed his form, Elizabeth listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Elizabeth took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Rodney�s hand. He stood before they shook as well, and then smiled. Peter walked Elizabeth to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Elizabeth though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The 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 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.Peter couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.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 Ray 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 he couldn�t give up. The idea of cutting his losses, shutting down, laying off his workers, it actually made him sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Rodney'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.
More Trucking Factoring Company Story Articles
The reason why Truck Corporations Employ Factoring Companies.
As the operator of your own establishment, you may likely be more than wary already of the hardship in making sure that capital matters do not become a difficulty down the line. Anyway, the most horrible thing that can quite possibly develop for your business is to find yourself embroiled in a long and problematic circumstance that leaves you forever looking for the cash you need on an ongoing manner.
For any type of business in this case, the concern can come for waiting for work to clear up and actually be compensated into your statement. Statements, checks, and the like could take a while to actually to be taken care of which can easily leave you with momentary available resources troubles. Thankfully, there are approaches out there for companies to examine-- and among these is factoring companies.
Factoring companies will, in substitution for your statements, grant you with the cash right now so that you do not need to worry about the delaying period that could make paying the expenses and obtaining materialsmore challenging. With this style of system, invoice factoring can come to be incredibly useful for countless companies who ought to get out of a money pitfall which they have gotten themselves in.
Given that, depending upon the size of the job, it can take up to 60 days for a number of enterprises to get compensated then it is vital to cover up your own back and certainly not leave yourself resources short to settle the monthly bills. After all, how many companies possess two months income just occupying there to pay for all their costs till they earn?
This is specifically true of trucking companies. They generally take care of numbers of accounts which means a considerable amount of collection period concerns business owner themselves. Trying to get paid off promptly can become an unbelievable headache and this is the key reasons why you work with truck factoring organizations who are delighted to help out truckers exclusively.
As all of us recognize, trucking is an remarkably enormous field with many firms out there handling hundreds of drivers. Sadly, quite a few of these drivers wind up in income difficulties considering that they are still expecting work from six weeks back to actually compensate them. When this is the condition for a truck firm, depending on factoring firms for aid may be the most ideal alternative left.
This means that a truck firm can pay the paychecks of the personnel, keep all the trucks refilled with gas and continue to escalate, develop and expand without constantly waiting for the funds which is taking too lengthy to come in. Trucking Firms functioning without a factoring program established are leaving themselves at significant danger, as competitions cash out rapidly and carry on to grow.
There's honestly nothing at all to be distressed about when it comes to employing a Factoring business-- they usually are not like a banking company or any individual who is going to leave you with a significant mound of financial debt to repay. You give them legitimate invoices from job you have already finished , you are merely hastening the repayment system.
In the Usa, where truck establishments survive, factoring establishments are not considered taking on loan in any capacity. This private settlement then permits both groups to make money and take pleasure in a convenient future-- it gives the factoring provider a warranted asset of profit to add to the list and it supplies the trucking business the required funds that they sweated to gain.
The trucking firm presents their accounts to the factoring company. The trucking factoring provider then take the payments from the trucking company's clients. Factoring has been in existence for centuries and has been utilized for many years by lots of diverse fields-- but none much more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you partner with, it signifies that you are acquiring the money today and can actually begin putting the resources to perform.
Anyway, an IOU or an invoice is not actually going to finance expenses, is it? For trucking firms when the hard earned cash can be excellent one day and gone the next, it is up to the drivers to work smartly and to ensure they are leaving themselves with a substantial volume of time and finance to get through the week till they are handed over again.
So the next period your trucking business is having some short-term cash flow dilemmas and you are spending excessive time chasing inactive paying clienteles, why not start off thinking about using a factoring companies as a method to get your cash and give yourself a more worry-free future in the eyes of your trucking team and your bank difference?
Traditional Bank Loans
Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. 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. Once the loan is paid off, you can then apply for another loan if the need arises.
Trucking Factoring Companies
Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared 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.
What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?
Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.
1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing will not affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.
2. There's 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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.
3. You'll receive the 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. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.
4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.
As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The 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. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.
Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.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.