Small freight brokerage businesses, particularly those who have actually not been in existence for extremely long, will commonly discover it tough to protect a loan. Banks are often hesitant to provide cash to companies that do not have a great deal of earnings and possessions. They also want evidence of the practicality of a business and therefore need that most operations, specifically small ones, be in business for a particular amount of time before they are eager to hand over any cash. Because of this, a medium-size business frequently has a couple of cash creating choices when needs develop. One alternative available, however frequently neglected, is invoice factoring. This is an exceptional method for a small company to acquire money.
How to Swim with The Banks without Being Eaten Alive - Select A Factoring Company Instead Of A Traditional Bank Financing
How to Enhance Cash Flow Without Loaning -Cash Money flow is one of the primary reasons companies fail.
At one time or another, every company, even successful ones, have experienced bad money flow.
Money flow does not have to be a problem any more. Do not be deceived -- banks are not the only places you can get funding. Other options are available and you do not have to borrow money. Exactly what is trucking factoring ? One option is called truck factoring. Trucking Factoring is the procedure of offering invoices to a financier instead of waiting to collect the cash from the
client. Oh, the Irony- Trucking factoring has a paradoxical distinction:
It is the monetary
foundation of numerous of America's most successful businesses. Why is this ironic ? Since receivable loan funding is not taught in business colleges, is rarely mentioned in business plans and is fairly unknown to bulk of most of American company people.
Yet it is a monetary procedure that frees billions of dollars every year, allowing thousands of businesses to grow and prosper. Truck Factoring has actually been around for countless years. Receivable Financing Companies are investors who pay money for the right to get 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
deals exclusively with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail deals. Utilizing the purest meaning of the word, these large consumer finance business are truly just large Receivable Financing Businesses of consumer paper. Think about it: You purchase at Sears and charge
it to your MasterCard. The store gets paid almost immediately, even though you do not make payment up until you are ready.
For this service, the credit card company charges XYZ Store a charge (typical common normal charges vary from two to 4 percent of the sale). The Advantages Trucking Factoring can provide numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been delivered, a business can factor
(sell) its receivables for cash at a small discount
off the dollar value of
the invoice. Payroll, advertising efforts, and working capital are simply a few of the company requirements that can be met with instant money.
Receivable Funding provides the ways 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. FACTORING is not simply a cash management tool for manufacturers: Almost any kind business can take advantage of FACTORING. Generally, a business that extends credit
will have 10 to 20 percent
of its annual sales tied up in invoices at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, but you can offer that invoice for the cash to meet those obligations. Using truck factoring companies is a fast and simple process. The factoring company buys the invoice at a price cut, typically a few portion
points less than the stated value of the invoice.
Mesa (/'m?s?/ MES-?) is a city in Maricopa County, in the State of Arizona and is a suburb located about 20 miles (32 km) east of Phoenix. Mesa is the central city of the East Valley section of the Phoenix Metropolitan Area. It is bordered by Tempe on the west, the Salt River Pima-Maricopa Indian Community on the north, Chandler and Gilbert on the south, and Apache Junction on the east. As of the 2010 Census Mesa became Arizona's center of population.Mesa is the third-largest city in Arizona, after Phoenix and Tucson. and the 38th-largest city in the US. The city is home to 439,041 people as of 2010 according to the Census Bureau. Mesa is home to numerous higher education facilities including Polytechnic campus of Arizona State University.According to the City's 2013 Comprehensive Annual Financial Report, the top employers in the city are:
Chandler is a city in Maricopa County, Arizona, United States, and is a prominent suburb of the Phoenix, Arizona, Metropolitan Statistical Area (MSA). It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert. As of July 2012, the population was 240,101 according to the United States Census Bureau, however, according to the city's official website, Chandler's Planning Division estimated the population as of September 2012 being 239,610. It also has satellite locations for many technology companies, including tel and Sciences Corporation.Computer chip manufacturer tel has an iuential role in city growth strategies with four locations in the municipal area, including its first factory to be designated ""environmentally sustainable"" under current Leadership in Energy and Environmental Design (LEED) criteria. Other high-technology manufacturing firms have partnerships with the local government, their operations employing approximately twenty-five percent of non-government workers in 2007. Although per capita employment growth in the sector has been in decline in Arizona since 2000, semiconductor and other electronic component manufacturing was largely unaffected; a series of customized grants for the training of net new employees, incorporating the Phoenix urbanized area (twenty-seven thousand workers now commute to work in other communities), resulted in a larger market share of (Californian) industry.
Glendale /'gl?nde?l/ is a city in Maricopa County, Arizona, United States, located about 9 miles (14 km)) northwest from Downtown Phoenix. According to the 2010 census, the population of the city is 226,721.
Scottsdale (O'odham: Va?ai S-va?oni; Yaqui: Eskatel) is a city in the eastern part of Maricopa County, Arizona, adjacent to the Greater Phoenix Area. Named Scottsdale in 1894 after founder Winfield Scott and incorporated in 1951 with a population of 2000, the 2013 population of the city is estimated to be 226,918, according to the U.S. Census Bureau. The New York Times described downtown Scottsdale as ""a desert version of Miami's South Beach"" and as having ""plenty of late night partying and a buzzing hotel scene"". Its slogan is ""The West's Most Western Town"".Scottsdale, 31 miles long and 11.4 miles wide at its widest point, shares boundaries with many other municipalities and entities. On the west, Scottsdale is bordered by Phoenix, Paradise Valley, and unincorporated Maricopa County land. Carefree is also located along the eastern boundary, as well as sharing Scottsdale's northern boundary with the Tonto National Forest. To the south Scottsdale is bordered by Tempe. The southern boundary is also occupied by the Salt River Pima-Maricopa Indian Community, which also extends along the Eastern boundary, which also borders Fountain Hills, the McDowell Mountain Regional Park and more unincorporated Maricopa County land.The tourism industry is Scottsdale's primary employer, accounting for 39% of the city's workforce. In 2005, Scottsdale attracted over 7.5 million visitors to the city, providing an economic impact of over $3.1 billion. The city of Scottsdale by itself is home to more than 70 resorts and hotels, boasting over 15,000 hotel rooms. This large hospitality market primarily caters to a higher-end, white-collar demographic.
Gilbert is a town in Maricopa County, Arizona, United States, located southeast of Phoenix, within the Phoenix metropolitan area. Once known as the ""Hay Shipping Capital of the World"", Gilbert is currently the most populous incorporated town in the United States. Gilbert encompasses 76 square miles (197 km2) and has made a rapid transformation from an agriculture-based community to an economically diverse suburban center located in the southeast valley of the Phoenix metropolitan area. In the last three decades, Gilbert has grown at an extremely high rate, increasing in population from 5,717 in 1980 to 208,453 as of the 2010 census.According to the Town's 2013 Comprehensive Annual Financial Report, the top employers in the city are:
Tempe (/t?m'pi?/, US dict: tem-'pe; Oidba? in Pima), also known as Hayden's Ferry during the territorial times of Arizona, is a city in Maricopa County, Arizona, United States, with the Census Bureau reporting a 2010 population of 161,719. The city is named after the Vale of Tempe in Greece. Tempe is located in the East Valley section of metropolitan Phoenix; it is bordered by Phoenix and Guadalupe on the west, Scottsdale on the north, Chandler on the south, and Mesa on the east. Tempe was the location of US Airways Group's corporate headquarters until December 9, 2013, when US Airways and American Airlines merged to form American Airlines Group. The headquarters for the combined airline moved to American's headquarters in Fort Worth, Texas. It is the home of Arizona State University.Tempe is the headquarters and executive office of one Fortune 500 company: Insight Enterprises. Limelight Networks, LifeLock, First Solar, the Salt River Project, Circle K, Go Daddy, Fulton Homes and Mobile Mini are also headquartered in Tempe. Cold Stone Creamery was originally headquartered in Tempe and location #0001 is still in operation today at 3330 S McClintock Drive in Tempe, Arizona. Tempe is also home to the largest campus of Arizona State University. It was the longtime host of the Fiesta Bowl, although the game moved to University of Phoenix Stadium, located in Glendale, in 2007. It then began hosting the Insight Bowl which is now known as the Cactus Bowl. Edward Jones Investments has a regional headquarters in Tempe. Airlines operates the Phoenix office in Tempe.
Peoria /pi'??ri?/ is a city in Maricopa and Yavapai counties in the State of Arizona. Most of the city is located in Maricopa County, while a tiny portion in the north is in Yavapai County. It is a major suburb of Phoenix. According to 2010 Census Bureau releases, the population of the city is 154,065. Peoria is currently the sixth largest city in Arizona for land area, and the ninth largest for population. It was named after Peoria, Illinois. (The word peoria is a corruption of the Illini word for �prairie fire�.) Peoria is now larger in population than its namesake. It is the spring training home of the baseball teamswho share the Peoria Sports Complex. In July 2008, Money magazine listed Peoria in its ""Top 100 Places to Live"".
Surprise is a city in Maricopa County, Arizona, USA. The population was 30,848 at the 2000 census; however, rapid growth has boosted the city's population to 117,517 at the 2010 census, an increase of 281%. As such, it is the second fastest-growing municipality in the greater Phoenix metropolitan area (after Gilbert) and, between 1990 and 2000, it was the sixth fastest-growing place among all cities and towns in Arizona.The city has a 10,562-square-foot (981.2 m2) Aquatics Center, Maricopa County's northwest regional library, a $5.5 million, 20,000-square-foot (1,900 m2) library, and a 100.3 cost of living index.According to the City's 2013 Comprehensive Annual Financial Report, the top employers in the city are:
Avondale is a city in Maricopa County, Arizona, United States, adjacent to Phoenix, Arizona. According to the 2010 census, the population of the city is 76,238.Avondale, incorporated in 1946, experienced rapid residential and commercial growth in the years since 1980. Once primarily a sparsely populated farming community with many acres of alfalfa and cotton fields, Avondale has transformed into a major bedroom suburb for Phoenix. Several major residential subdivisions and shopping centers have recently been built on former farmland, many adjacent to Interstate 10.Phoenix Children's Hospital opened a satellite facility (the Southwest Valley Urgent Care Center), at the corner of Avondale Boulevard and McDowell Road in the spring of 2013. Avondale's main arterial streets leading into the city of Phoenix, including Van Buren Street and McDowell Road, have been widened and modernized to a more ""suburban"" and less ""rural"" appearance and function.[when?]
Goodyear (O'odham: Valin Thak) is a city in Maricopa County, Arizona, United States. It is a suburb of Phoenix and is in the Phoenix metropolitan area. According to the 2010 census, the population of the city is 65,275. Goodyear was the third fastest-growing place among all cities and towns in Arizona of any size between 1990 and 2000 (with an increase of 245.2%). The July 1, 2013 population estimate was 72,864, with an increase of 11.6%.The city is home to the r Ballpark, where the Cleveland Indians and Cincinnati Reds of the MLB practice their spring training. On June 6, 2008, year won the All-America City Award, sponsored by the National Civic League. The city is named after the Tire and Rubber Company, when the company had farmland to grow cotton for their tires.Goodyear is known as a bedroom community, while it is a developing residential suburb of Phoenix. More new homes are being built in master-planned communities.
Lake Havasu City is a city in Mohave County, Arizona, United States. According to 2010 census, the population of the town is 52,527. It is served by Lake Havasu City Airport. Lake Havasu City is geographically isolated from the other cities in Mohave County.
Buckeye is a city in Maricopa County, Arizona, United States and is, at this time, the westernmost suburb in the Phoenix metropolitan area. The population was 6,537 at the 2000 census. From 2000 to 2010, the Buckeye population growth percentage was 678.3% as it had 50,876 people at the 2010 census.
Casa Grande (O'odham: Wainom Wo:g) is a city in Pinal County, approximately halfway between Phoenix and Tucson in the U.S. state of Arizona. According to the 2010 census, the population of the city is 48,571 and has a metropolitan population of 375,770. It is named after the Casa Grande Ruins National Monument, which is actually located in Coolidge. ""Casa Grande"" is Spanish for ""big house"".The economy of Casa Grande was historically based on rural, agricultural industries such as cotton and dairy farms. Over time, the city has become home to many Phoenix or Tucson urbanites who own homes in Casa Grande. Most residents either commute north to work in the Phoenix metropolitan area, or to the south, to work in Tucson. This trend has contributed to growth in the service industry of Casa Grande. Many new businesses such as restaurants, gas stations, and retail outlets are opening throughout the city in order to keep up with demand from the growing population.
Sierra Vista is a city in Cochise County, Arizona, United States. As of the 2010 census the population of the city was 43,888. The city is part of the Sierra Vista-Douglas Micropolitan Area, with a 2010 population of 131,346. Fort Huachuca, a U.S. Army post, is located in the northwest part of the city.Sierra Vista, which is Spanish for ""Mountain Range View"", is located 75 miles (121 km) southeast of Tucson and serves as the main commercial, cultural, and recreational hub of Cochise County.Sierra Vista is the commercial center for Cochise County and parts of northern Mexico. Retailers such as are located in the community, along with three major supermarkets and dozens of smaller specialty shops. The Mall at Sierra Vista is a 400,000-square-foot (37,000 m2) mall located in Sierra Vista.
Maricopa is a city in the Gila River Valley in the State of Arizona. With an estimated 45,508 residents as of 2013, Maricopa is the second most populous incorporated city in Pinal County and eighteenth most populous in Arizona. Maricopa forms part of the Phoenix metropolitan area.
Oro Valley, incorporated in 1974, is a suburban town located 6 miles (9.7 km) north of Tucson, Arizona, United States in Pima County. According to the 2010 census, the population of the town is 41,011, an increase from 29,700 in 2000 census. Dubbed the ""Upscale Tech Mecca"" of Southern Arizona by the Arizona Daily Star newspaper, Oro Valley is home to over 10 high tech firms and has a median household income nearly 50% higher than the U.S. median. The town is located approximately 110 miles (180 km) southeast of the state capital of Phoenix.Oro Valley is situated in the western foothills of the Santa Catalina Mountains at the base of Pusch Ridge. The Tortolita Mountains are located north of the town, and vistas of the Tucson valley are to the south. The town occupies the middle Ca�ada del Oro Valley. Oro Valley hosts a large number of residents from around the US who maintain second or winter homes in the town.In March 2008, Fortune Small Business magazine named Oro Valley #44 on its list of ""100 Best Places to Live and Launch"" a business. The August 2008 issue of Family Circle magazine featured Oro Valley as one of the top ten best towns for families in America. Money magazine reported Oro Valley was one of the best places to live in 2007 and 2008. Nick Jr. Family Magazine rated Oro Valley as one of the ""Ten Most Playful Towns in America"" in 2004. The magazine used criteria such as schools performing in the top third of their states, favorable student-teacher ratios, general safety, library programs, and access to arts and recreation activities. In 2005, Oro Valley was named one of ""America's Top-Rated Smaller Cities"" in the publication by Grey House Publishing. The publication specifically noted the excellence of Oro Valley's schools, medical facilities, and golf courses. According to FBI statistics, in 2006 Oro Valley ranked #1 in the State of Arizona for the lowest levels of both violent crime and property crime, among cities with populations of 5,000+. It was also ranked #1 every year from 2001 through 2005 in either category or both.The town hosted the 2006 Pac-10 Women's Golf Championships at the Oro Valley Country Club. Oro Valley Country Club was also the site for the 2006 Girl's Junior America's Cup, a major amateur golf tournament for the Western United States Annual events in Oro Valley include the Oro Valley Festival of the Arts, El Tour de Tucson bicycle race, the Tucson Marathon, the Cactus Speed Classic for inline skaters, and the Arizona Distance Classic.Oro Valley is emerging as a regional center for the biotech industry. Innovation Park is the high-tech center of Oro Valley, featuring a number of medical and biotech campuses. Primary employers in Oro Valley include:
Bullhead City is a city located on the Colorado River in Mohave County, Arizona, United States, roughly 90 mi (140 km) south of Las Vegas, Nevada, and directly across the Colorado River from Laughlin, Nevada, whose casinos and ancillary services supply much of the employment for Bullhead City. Bullhead City is located on the southern border of Lake Mohave.According to the 2010 census, the population of the city is 39,540. The nearby communities of Laughlin; Needles; Fort Mohave; and Mohave Valley bring the Bullhead area's total population to about 100,000, making it the largest micropolitan area in Mohave County. The latest figures indicate that ""...more than 115,000 people flew into Laughlin/Bullhead International Airport on casino-sponsored charters in 2010.""With over 59 square miles, Bullhead City is the largest city in Mohave County in terms of total land area.Economically, Bullhead City has a stabilizing housing market.In 2011, the Laughlin/Bullhead International Airport was named Airport of the Year by the Arizona Department of Transportation. In the 1980s the airport was home to the helicopters of the hit T.V. Show .
Prescott Valley is a town in Yavapai County, Arizona, United States, just east of Prescott. Prescott Valley was the seventh fastest-growing place among all cities and towns in Arizona between 1990 and 2000. According to the 2010 Census, the population of the town is 38,822.Prescott Valley's economy consists of industrial, manufacturing, retail and service businesses. Many retirees live here due to relatively inexpensive housing and the mild climate. Recent major community additions include a $61M regional medical center and a $15M regional rehabilitation hospital, and $22M Public Library.
Apache Junction is a city in Maricopa and Pinal counties in the State of Arizona. According to the 2010 census, the population of the city was 35,840, most of whom lived in Pinal County.Apache Junction is named for the junction of the Apache Trail and U.S. Route 60. Superstition Mountain, the westernmost peak of the Superstition Mountains, is nearby.
Marana is a town in Pima County, Arizona, located northwest of Tucson, with a small portion in Pinal County. According to the 2010 census, the population of the town is 34,961. Marana was the fourth fastest-growing place among all cities and towns in Arizona of any size from 1990 to 2000.
El Mirage is a city in Maricopa County, Arizona, United States. According to the 2010 census, the population of the city is 31,797.
Queen Creek is a town in Maricopa and Pinal counties in the state of Arizona. The population was 26,361 at the 2010 census. Between 2000 and 2013, Queen Creek's population grew 814.7%, the 2nd fastest growth in Arizona when combining the statistics for Queen Creek and San Tan Valley.
San Luis (the Spanish language name of Saint Louis) is a city in Yuma County, Arizona, United States. The population was 25,505 at the 2010 census. It is part of the Yuma Metropolitan Statistical Area. San Luis, located in the southwest corner of the state directly adjacent to Mexico's Federal Highway 2, was the second fastest-growing city or town in Arizona from 1990 to 2000. According to 2013 Census Bureau estimates, the population of the city is 31,180.Retail trade, agriculture and manufacturing form a large portion of the local economy. Another significant segment is the light industry located on both sides of the U.S./Mexico border. San Luis is an excellent site for labor-intensive manufacturing and assembly plants.
Sahuarita /s??w?'ri?t?/ is a town in Pima County, Arizona, United States. Sahuarita is located south of the Tohono O'odham Nation and abuts the north end of Green Valley, 15 miles (24 km) south of Tucson. The population was 25,259 at the 2010 census.
Fountain Hills is a town in Maricopa County, Arizona, United States, neighboring the Fort McDowell Yavapai Nation, Salt River Pima-Maricopa Indian Community, and Scottsdale, Arizona. The population is 22,489, as of the 2010 census. It was the eighth fastest-growing place among cities and towns in Arizona between the 1990 and 2000 censuses.
Douglas is a city in Cochise County, Arizona, United States. Douglas has a border crossing with Mexico and a history of mining.The population was 17,378 at the 2010 census.
Eloy is a city in Pinal County, Arizona, United States, about 50 miles northwest of Tucson and about 65 miles southeast of Phoenix. According to the 2010 census, the population of the city is 16,631.The largest employer is Corrections Corporation of America (CCA), and those CCA prisoners are included in the census.
Payson is a town in northern Gila County, Arizona, United States. Its location puts it very near to the geographic center of Arizona. Payson has been called ""The Heart of Arizona"". The county seat is in Globe, AZ. The Payson police department executive director is the Arizona state coordinator of the 1033 program. The town is surround by the Tonto National Forest and has many outdoor activities year round.
Somerton is a city in Yuma County, Arizona, United States. As of the 2010 census the population was 14,287. It is part of the Yuma Metropolitan Statistical Area.Somerton was established in 1898 and incorporated in 1918. Somerton's economy is based on agriculture and light industry.
Paradise Valley is a small, affluent town in Maricopa County, Arizona, United States. According to the 2010 census, the population of the town was 12,820. Despite the town's relatively small area and population compared to other municipalities in the Phoenix metropolitan area, Paradise Valley is home to twelve resorts, making it one of Arizona's premiere tourist destinations. It is also known for expensive real estate.It should not be confused with Paradise Valley Village, an official municipal designation, in northeast Phoenix. For instance, Paradise Valley Community College, Paradise Valley High School, Paradise Valley Hospital, Paradise Valley Mall, and Paradise Valley Golf Course are all located several miles to the north of the town, in Phoenix. The town's name along with all the other various entities bearing the same name comes from the expansive area known as Paradise Valley, that spreads from north of the Phoenix mountains to Cave Creek & Carefree on the north and the McDowell Mountains to the east.Residents attend schools in the Scottsdale Unified School District.There is a Paradise Valley Unified School District, and it is one of the largest in the state, though like many other institutions with the name Paradise Valley, it refers to the Phoenix village, and not to the town.
Coolidge is a city in Pinal County, Arizona, United States. According to the 2010 census, the population of the city is 11,825.Arizona Highway 87 and Arizona Highway 287 pass through the town. Coolidge is 56 miles (90 km) southeast of Phoenix, and 69 miles (111 km) northwest of Tucson. It is 21 miles (34 km) northeast of Casa Grande and 11 miles southwest of Florence. Picacho Reservoir is just 11 miles (18 km) south of town.Coolidge is home of the Casa Grande Ruins National Monument. The monument was the first historic site to receive protected status by the United States Government in 1892. The ancient city was built about 1200 AD. by the Hohokam people.Coolidge was incorporated as a city in 1945. It is named for the Coolidge Dam, which in turn was named for Calvin Coolidge, the 30th President of the United States.Coolidge is home to Central Arizona College.
Cottonwood is a city in Yavapai County, Arizona, United States. According to the 2010 census, the population of the city is 11,265.
Camp Verde (Yavapai: 'Matthi:wa; Western Apache: Gamb�dih) is a town in Yavapai County, Arizona, United States. According to the 2010 census, the population of the city is 10,873.The town hosts an annual corn festival in July, sponsored and organized by Hauser and Hauser Farms. Other annual festivals include Fort Verde Days (October); the Pecan, Wine and Antiques Festival (February); and the Crawdad Festival (June).
Chino Valley is a town in Yavapai County, Arizona, United States. According to the 2010 census, the population of the town is 10,817.
Show Low is a city in Navajo County, Arizona, United States. It lies on the Mogollon Rim in east central Arizona, at an elevation of 6,345 feet (1,934 m). The city was established in 1870 and incorporated in 1953. According to the 2010 census, the population of the city was 10,660.
Sedona /s?'do?n?/ is a city that straddles the county line between Coconino and Yavapai counties in the northern Verde Valley region of the State of Arizona. As of the 2010 census, its population was 10,031.Sedona's main attraction is its array of red sandstone formations. The formations appear to glow in brilliant orange and red when illuminated by the rising or setting sun. The red rocks form a popular backdrop for many activities, ranging from spiritual pursuits to the hundreds of hiking and mountain biking trails.Sedona was named after Sedona Arabella Miller Schnebly (1877�1950), the wife of Theodore Carlton Schnebly, the city's first postmaster, who was celebrated for her hospitality and industriousness.
Winslow (Navajo: B��sh Sinil) is a city in Navajo County, Arizona, United States. According to the 2010 census, the population of the city is 9,655.
List Of Arizona Cities
The United states Transportation Organization
mentions that there are about
200,000 workers with freight trucking
276,000 personal providers trucking
firms licensed to
operate in the U.S. that transferred,
according to their newest data of millions
items, materials and
fundamental products .
There are numerous common
groups on our nation
highways carrying these
vital products to our
shops, manufacturing facilities and harbors.
And freight bill factoring
countless 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 2011 total gross state product was $259�billion. This figure gives Arizona a larger economy than such countries as Ireland, Finland, and New Zealand. The composition of the state's economy is moderately diverse; although health care, transportation and the government remain the largest sectors. The hub of economic output remains in the Phoenix metropolitan area accounting for approximately 74% of the states domestic product. The state�s per capita income is $40,828, ranking 39th in the U.S. The state had a median household income of US$50,448, making it 22nd in the country and just below the U.S. national median. Early in its history, Arizona�s economy relied on the ""five C's"": copper (see Copper mining in Arizona), cotton, cattle, citrus, and climate (tourism). At one point, Arizona was the largest producer of cotton in the country. Copper is still extensively mined from many expansive open-pit and underground mines, accounting for two-thirds of the nation�s output. Nearly 70 percent of the land in Arizona is owned by the U.S. government, which leases a portion of the public domain to ranchers or miners."
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.
Payne Truck & Haul have been operating their business since the mid 1980s. For more than twenty years they've been delivering goods for most major industries in the nation, with business booming as they traversed the country, in all kinds of weather, for all kinds of clients. During the heady times from 2002 to 2007, Payne was a top rated accounts receivable mastermind of the trucking industry. Few customers were ever late on bills and those clients who were, were sure to turn in their late payments within a reasonable amount of time. Times were great for everyone, and the cash was flowing.But a short year later, in the fall of 2008, when the United States economy took a nosedive and businesses both small and large began to feel the pinch on their pocketbooks, those that used to make their demands had suddenly and largely gone silent. Business slowed to a crawl
. And worse yet, Payne 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 Payne, Jerome Fox, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable 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 things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't 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 Payne hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Jerome Fox to have some very restless nights. Jerome 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 Lynn and shake his head in frustration.
""I have a bad feeling, Lin,"" he would say with deep woe.""What could you do differently?"" she would ask.Jerome 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 traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" Jerome said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Lynn could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Jerome knew very well that Lynn was only trying to help, but his responsibilities weighed heavily on his shoulders and he knew he had better do something soon to resolve this situation.The next day Jerome strolled into his office and was determined to sit down and make every phone call to every client who had owed Payne money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Jerome knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Jerome was realising just how much trouble he was in.Poor Jerome 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 Jerome?"" she asked standing in the doorway.
""Sure thing Louise, come on in."" Jerome relaxed back into his chair and looked up at Louiseerley.""Well Jerome, this afternoon I did some research, trying to work out how we are going to get out of this mess."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.
So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Jerome interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""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.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Jerome 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. 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. The funding commences once we�ve arrived at an agreement.�Leaning forward, Jerome studied the documents very closely.""I do not know, Louise - it just sounds too good to be true"", Jerome said quietly.""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. They appear to be very flexible, Jerome,"" she drew a circle around a paragraph on the document before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. 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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" said Jerome.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. This could be the answer to our prayers: it will solve many problems we are facing due to these unpaid debts.""Jerome thought about this and agreed with Louiseerley. The clients who owed them money were long standing friends and professional resources of Payne. They did not want to throw away these relationships because they were having trouble paying their bills now. Jerome 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. 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 Louise, thank you."" Louise stood up and left Jerome's office, with the nice feeling of knowing that she may just have solved a very serious problem.Jerome sat behind his desk and looked over the details Louise had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Payne 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. Jerome was surprised: it said that his company could get up to fifty percent cash advances on load pickups. Jerome 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 Ivan the good news,"" muttered Jerome to himself.Ivan is Jerome's son-in-law, and he really admired the ideas behind Payne, so much so that only two years before he had started his own transportation service business. At that time Jerome knew the struggles Ivan would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Payne was struggling then the little guys, like Ivan, were going to be in even more trouble. Perhaps the antidote to these problems was in freight factoring, and they were about to find out.Some months later, having successfully gone through the entire process of the application, having experts study his credit history and statements and review his accounts receivable, Jerome found that he was starting his journey out of the despair which had been created for him by his delinquent account holders.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. Jerome looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Jerome hadn't discovered freight factoring at just the right time, his business may not be operating today.
More Trucking Factoring Companies Story Articles
The Future of a Trucking Company, and Factoring Kenneth Thompson let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Thompson 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.
Kenneth�s father had started as an owner-operator and had grown Thompson Trucking Company into a fifteen trailer fleet over forty years. Yes, they had survived some very difficult times when it appeared like they might go under, and even Kenneth's mother had jumped into the cab at times to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Kenneth�s hands and he wanted to live to see it in better shape for his sons.
To move Thompson 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. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Thompson Trucking looked weak in a very strong market.
He knew what his father would have said - 'wait, take your time before adding new technology'. Kenneth chuckled, thinking about his father. 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. 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.
Kenneth believed a successful man is always thinking of his next step. How would he take Thompson Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.
But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded a lot like ninth grade algebra which just didn�t feel like it belonged as part of the trucking business. A factoring company actually purchases your invoices and takes control of your accounts receivable, payment being a certain percentage of the amount invoiced. 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.
Kenneth had to really consider what his next step was going to be. Kenneth had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?
However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. 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. He was not charged for a credit check, and in addition he was offered a fuel advance on the pick-up of a 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.
It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn�t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Kenneth because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Thompson Trucking and the factoring companies appeared capable of handling the accounts receivable in the same polite manner that his father had used over the years.
Kenneth 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 Thompson Trucking Company and who knows, move into Canada, which had always been his dream. His heart felt full knowing his sons wouldn�t have to worry about money because of the right decisions he had made for their trucking business.
�So It is not a loan?� Alfred Freeman asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Alfred smiled at him, shaking her head.�Not quite,� she said.Alfred Freeman owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for Ryan. His company was called Arnold Trucking, named after both of his grandfathers, Leon and Bill. Both of these men had been very hardworking and had set a great example for Ryan.Disaster had struck half a year ago, when two trucks in Ryan�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 Ryan's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Alfred 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. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Alfred 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.That�s where the woman across the desk came in. Her name was Phyllis and she worked for a factoring company. Alfred 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.Phyllis 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.Alfred agreed. It sounded good to him, almost too good.Phyllis laughed. �You look like you don�t believe me,� she said.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Phyllis smiled, agreeing. �Yes, we get a lot of that. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Phyllis with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Alfred completed the form, with Phyllis offering advice as needed.
The profile filled Phyllis and her company in on Ryan�s company, and would help them determine if he was suitable for factoring. Unfortunately, not all companies are. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. Listening as Alfred filled out his form, Phyllis was pretty sure he was a perfect candidate for factoring.Phyllis took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Ryan�s hand. He stood before they shook as well, and then smiled. Alfred walked Phyllis to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Phyllis though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. He could feel it all fading 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. Offering home cooking in his own hometown, his business had really prospered.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Arnold Trucking. And that's exactly what he did. Once again he built a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Ryan's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. He could be thankful later, for now, it was time to work.
More Trucking Factoring Company Story Articles
Why Truck Agencies Employ Factoring Firms.
As the operator of your own business, you may likely be more than wary already of the hardship in making certain that capital issues do not become a problem down the line. After all, the most awful thing that can in all probability occur for your establishment is to find yourself involved in a long and challenging situation that leaves you forever trying to find the resources you really need on an ongoing basis.
For just about any establishment in this instance, the concern can come for waiting for work to lapse and actually be paid out into your balance. Bill of sales, checks, and the like can take some time to actually to be taken care of which can certainly leave you with temporary available resources dilemmas. Thankfully, there are solutions out there for enterprises to check out-- and one of these is factoring companies.
Factoring companies will, in substitution for your invoices, give you with the money now to ensure that you do not have to worry about the delaying period which could make paying off the bills and obtaining materialsmore hard. With this form of system, invoice factoring can become tremendously helpful for countless establishments who need to avoid a money pitfall which they have found themselves in.
Simply because, depending on the volume of the job, it can take up to 60 days for several business enterprises to get paid then it is critical to cover up your own back and definitely not leave yourself resources short to settle the expenses. After all, how many companies have two months cash flow just lying there to handle all their expenditures until they make money?
This is particularly correct of truck companies. They often tend to manage great deals of invoices which means a considerable amount of collection time demands company owner themselves. Seeking to get paid promptly can turn into an unbelievable hassle and this is why you use truck factoring firms who are happy to help out truckers mainly.
As we all realize, trucking is an surprisingly enormous industry with many companies out there utilizing hundreds of operators. Regretfully, many of these drivers land up in money difficulties for the reason that they are still waiting on work from six weeks earlier to actually pay them. When this is the case for a truck agency, resorting to factoring agencies for solutions may be the most ideal alternative left.
This signifies that a trucking business can pay out the wages of the personnel, keep all the cars filled with gas and continue to escalate, evolve and expand without always waiting for the resources which is taking too long to come in. Trucking Businesses functioning without a factoring program established are leaving themselves at considerable danger, as competitors cash out quickly and go on to grow.
There's absolutely not a thing to be worried about when it comes to utilizing a Factoring agency-- they usually are not like a financial institution or somebody who is going to leave you with a significant heap of financial obligation to repay. You give them legitimate invoices from work you have already finished , you are merely quickening the repayment process.
In the Usa, where trucking establishments survive, factoring companies are not considered borrowing in any capacity. This confidential settlement then permits both parties to profit and experience a convenient future-- it provides the factoring company a secured asset of cash flow to add to the list and it offers the trucking firm the required cash that they worked hard to obtain.
The trucking company presents their accounts to the factoring agency. The trucking factoring provider then take the payment amounts from the trucking company's clients. Factoring has been all around for centuries and has been utilized for decades by plenty of diverse business sectors-- but none more so than truckers. While you may well lose out on a small part of the money, something like 1-3 % depending upon who you team up with, it implies that you are acquiring the funds today and can actually start off putting the cash to perform.
After all, an IOU or an invoice is not going to fund expenses, is it? For trucking companies when the money can be fantastic one day and gone the next, it is up to the vehicle drivers to work sensibly and to ascertain they are leaving themselves with a substantial amount of time and money to get through the week till they are handed over once more.
So the next moment your trucking company is bearing some short-term capital troubles and you are investing excessive time chasing slowly paying clienteles, why not start taking into consideration using a factoring companies as a method to get your cash and give yourself a more pleasant future in the eyes of your trucking crew and your bank dividend?
Traditional Bank Loans
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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. 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. 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 a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.
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. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it 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. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.
4.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 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.