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Profits That Lie Hidden In Your Company - Our Trucking Factoring Companies Can Provide Your Trucking Company The Cash Your Company Needs


at ocf.com

All Truckers Can Have Access To More Money

Getting INSTANT CASH

?With a Reputable Factoring Company!

For us, Great Customer Service is our Motto!

Use FUEL PARTNERING and you can save a fortune at the pump!

With INSTANT CREDIT CHECKS your loads will be approved instantly!

?We?re TRUE TO OUR WORD and our track record proves it!?

Dear Business Manager,If your business is cash-strapped and you need a factoring company that will take care of your specific needs, then look no further than FactorMoney.Com.

When your productivity is reduced because of cash flow problems, we?re here for you.

For over 35 years we?ve been in this business and our reputation is second-to-none: for us it?s all about your needs.

Call us, and we?re on the other end of the phone immediately!

If there?s a problem to be solved, just let us know and WE?RE ONTO IT.And when you need to get CASH for an urgent load or repair, you simply SEND US and it?s wired to you in no time. We use the latest technology to make things lightning fast!

Yes, we buy your invoices for CASH ? but we do so much more.

For truckers, we have a ?Fuel Partnership? Program whereby you can take advantage of our negotiated steep discounts off cash prices at the pump. This allows small fleets to have the same fuel purchasing power as large fleets.

That alone is enough to secure many (profitable) jobs you might otherwise have to decline.

Using our factoring service means that you have IMMEDIATE access to CASH for your invoices, for just a very small percentage off the total of your invoice.

As an example, if your invoices for the month amounted to $100,000, we will buy these from you for between $97,000 and $99,000.We then collect the full $100,000 from your customer when the invoices are ?due and payable?? and the difference ($1,000-$3,000) is our profit.It?s simple enough. And it?s done every day in many, many industries.

In actual fact many, many industries depend entirely on factoring as an instantaneous source of cash, to avoid have to use a line of credit or apply for another bank loan.Factoring gives you enormous flexibility with your cash flow, and gets you out of binds before they hurt you or restrict you from doing businessWith factoring you have enormous flexibility with cash flow, enabling you to prevent any damage or restrictions to your business!

It?s the perfect solution to providing instant cash-on-hand for you to continue expanding and growing your business.

This way, incrementally or in major shifts, factoring is a way for you to use ?other people?s money? to create a better future for your entire company!And the best news! Our rates are very competitive, with no set-up fees and no minimum!

Click here to contact us today for a free consultation to see how factoring works in your industry, and what it takes to get started!Yours faithfully,

 

 

factoring services for trucking companies truck factoring definition trucking factoring company factoring trucking business

 

Using a Truck Factoring Company is useful for several reasons. It enables a trucking business to raise cash without obtaining brand-new financial obligation. While debt is in some cases needed, most trucking firms would choose to raise cash without borrowing money. Financial obligation is risky, and when it can't be repaid, assets can be repossessed. If the debt is big enough, it might even force a trucking companies out of business.

 

New Factoring Program Leaves Your Company Rolling in Profits - Choose A Freight?Brokerage Factoring Company  Instead Of A Typical Bank Financing

How to Increase Cash Flow Without Borrowing -Cash Money flow is among the primary reasons businesses fail.

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

Money flow does not have to be a problem any ever more. Do not be fooled -- banks are not the only places you can get financing. Other solutions are available and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Truck Factoring is the procedure of offering accounts receivable to a financier rather than waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical difference: It is the monetary backbone of many of America's most effective businesses. Why is this ironic ? Because trucking factoring is not taught in business colleges, is seldom discussed in business strategies and is fairly unknown to the majority of most of American company people.

Yet it is a monetary process that releases up billions of dollars every year, enabling thousands of businesses to grow and prosper. FACTORING has actually been around for thousands of years. FACTORING Businesses are financiers who pay cash for the right to get the future payments on your invoices. An overdue receivable or invoice has value. It is a debt your client has agreed pay in the near future. Factoring Principals--Although factoring deals exclusively with business-to-business transactions, a big portion of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a form of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance business are truly simply big Receivable Loan Financing Businesses of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money practically instantly, even though you do not make payment until you are ready.

For this service, the credit card company charges Sears a fee (typical common normal fees vary from 2 to four percent of the sale). The Benefits Truck factoring can offer numerous advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on an item that has currently been provided, a business can factor (sell) its receivables for money at a little discount off the amount of the invoice. Payroll, advertising efforts, and working capital are simply a few of the business needs that can be met with instant  cash.

Account Receivable Financing provides the means for a manufacturer to renew inventory and make more products to offer: There is no longer a requirement to await for earlier sales to be paid. Receivable Loan Financing is not simply a money management device for producers: Practically any type company can benefit from FACTORING. Typically, a business that extends credit will have 10 to 20 percent of its annual sales bound in invoices at any given time. Think for a moment about how much is tied up 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 sell that invoice for the cash to meet those responsibilities. Using truck factoring companies is a fast and simple process. The factor purchases the invoice at a price cut, typically a couple of percentage points less than the face value of the invoice.

 

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The United states Trucking Association mentions that there around 195,000  employees with truck businesses and 300,000 personal providers trucking companies certified to run in the States that  transported, according to their most current searchings for billions of  items, supplies and fundamental products . There are a number of  typical carriers either going solo or in teams on our country roads transporting these vital products to our shops, factories and harbors.

Furthermore freight bill factoring firms benefit countless of them and offer their receivables financing facilities nationwide counting including the following states.

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

 

 

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Oilfield  Factoring Companies Articles

Oil Well Cleaning Owner Interview

 

The oilfield services industry is certainly a booming one these days thanks to a renewed emphasis on searching and drilling for oil on private and state properties. One of the more profitable ventures in this field is not the drilling for oil, but the cleaning of oil and gas wells to keep them operating at full efficiency. Oil and gas drilling is a dirty business and wells will quickly become clogged even with regular maintenance.

 

One man who works with various drilling companies by providing maintenance and cleaning of oil wells is Jeffrey Fielding, the owner of an oil well cleaning company. Over the past couple of years, Jeffrey has managed to grow his business considerably thanks in large part to his perseverance and determination. But, when Jeffrey first started his company things were not so positive, and there was a point when he faced a problem that he was not sure how to overcome.

 

In the interview below Jeffrey explains how he was able to grow his business at a very difficult and confusing time, all thanks to oilfield services factoring. If it wasn?t for the presence of factoring companies that worked in his field, Jeffrey might be in a completely different business today.

 

?Hello, Jeffrey. It?s good to talk with you and I?m glad you were able to spare the time to share your story with us.?Jeffrey Fielding: ?Thanks, I?m glad to be here.??Jeffrey, I wonder if you could begin by explaining to our listeners how you first became involved in the oil well cleaning business.?JF: ?Yes, certainly, I'll tell you how it all started. I joined an oil well crew about ten years ago, working as a roughneck, and I started working my way up through the ranks of the business. It was hard work and our crew was usually out in the middle of nowhere, but the money was good and the opportunities kept building for me. I quickly learned the job and was hired by a number of drillers to work their rigs over the next few years during the boom in the oil industry.?

 

?Even in the beginning I was noticing the oil well cleaning guys that worked the rigs, and I got to know them pretty well over the years. It slowly dawned on me that oil well cleaning could be a very profitable business because the work was steady and the money was good - probably better than I was making at the time. So, with the money I had saved up along with a couple of partners I opened up an oil well cleaning company of my own.?

 

?Interesting! It sounds like you knew exactly what you were getting into. So can you explain to our listeners how you started the business.?JF: ?It was pretty straightforward as we got our business loan, purchased the equipment and hired a couple of experienced people to help us clean oil wells. We had some pretty good connections and the orders started to pile in, but then we ran into a problem that none of us could even dream of happening. Our business had become a victim of its own success.?

 

?I'm not sure I understand what that means - could you explain what you mean by that statement??JF: ?Certainly - our business was raging, then about six months into it we had new drillers wanting our services, but we just didn't have enough money to expand. Because we get paid on our invoices, payment can take anywhere from 30 to 60 days, and this meant that we were paying payroll, paying down the loan, and buying equipment, fuel and other running costs, and there was no cash on hand to enable us to expand. We knew that if we didn?t hire new people and buy new equipment that we would miss out on a golden opportunity. However, one of my friends told me about oilfield services factoring companies that could help us out.?

 

?What are factoring companies??JF: ?What a factoring company does is to basically buy your invoice and give you immediate cash. Our credit was good, and our invoices were in good shape. By using their services, we were able to get the cash in our hands quickly and pay for new equipment to then expand our business efforts.??It certainly sounds like the factoring companies saved the day for you, but just how do they work??JF: ?Well, it was a pretty simple process. It was as simple as completing some forms providing the information they required; we then sold the invoices we had made out, but not collected, to the factoring company. We received cash immediately and the factoring company collected on the invoice.?

 

?It certainly sounds pretty straightforward, but why didn?t you just get another loan??JF: ?My partners and I went over that and another loan would just be too big a burden. We were already paying off our old loan which was considerable and didn?t want to have more debt hanging over our company. By going with the oilfield factoring companies, we didn?t owe anyone, anything. What it meant to us was that we were paid the money we were owed a lot quicker than if we waited for the client to pay us.??So, how is business today??JF: ?It?s better than ever. By using a factoring company I was able to buy new tubing, cleaning fluids, a new vehicle and other equipment that let us take on the new orders. Our business has expanded a lot, and with our already great reputation we've been able to work with even more drilling companies.?

 

?It certainly sounds like a great business idea - a dream come true for you, I guess.?JF: ?It really does, but I don?t know what we would have done if factoring companies didn?t exist. We still use them when we need cash for new equipment or products to do our job. It?s quick, safe and brings us the money we need to continue our business.?Jeffrey's and his partners really appreciated the benefits of using oilfield factoring companies which serve his particular industry. There are factoring companies for other types of businesses as well that can take invoices and turn them into quick cash for businesses that need to expand. For Jeffrey and many other small business owners, factoring companies can make the difference in the success of your efforts.

 

United States Trucking Companies

Click below to find Trucking Companies in the United States:

Trucking Companies serving to/from points within the United States,
categorized by services offered. United States Trucking
Companies will be listed under all categories in which they provide specified Trucking Services.
To find companies offering specific Trucking Services in the United States, click on the list of services below.

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

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

 

EveryTruckJob.com is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

Locate truck driving jobs by city, state, position andbenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs

 

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. FreightCenter helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Our 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 Truckers Place.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

 

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.

 

 

HealthCare Factoring Companies Articles

Justine Carmichaels turned away from her pc when her marketing head suddenly came into her office. A magazine was then thrown at her desk which surprised her. He was smiling from ear to ear. Justine couldn't help but to quickly flip the pages of the magazine to understand why the marketing head is acting that way. This reputable business guide had published a current listing of the best staffing companies throughout the nation.She couldn't believe it when she found out after flipping some of the pages that her company, Trinity Medical Staffing Solutions has made it to the top of the said list in the below $99 million revenue column. Now, she is also grinning and smiling ear to ear just like the marketing head.She cannot imagine that this would be the result of her decision to use a factoring company.

 

During the recent recession period, the company was barely making any revenue. The main issue during the recession, was not really the demand. It was supply as in the supply of fast payment for services. Business continued however payment from clients was really slow and took up to 3 or 4 months in some occasions which was really bad for the company, not to mention that collections of these payments took a lot of time and monetary resources. It wasn?t really the downsizing that came along with recession that affected their company the most but it was the very stiff competition as many competitors suddenly came along plus there was also the difficulty of hiring high quality staff due to the said competition.

 

Cash flow was very significant. Cash flow was really difficult during those hard times. Justine had to resort to applying for 3 different company credit cards in just 6 months just to be able to pay for essentials like web hosting, bills, utilities and items that they can never go without like toilet papers for bathrooms. The credit cards though had limitations when it comes to paying for much larger needs and expense.

 

In order to maintain a good company image, Trinity continued to pay premium for their workers as compared to any other medical staffing company in their region. In the competitive industry of medicine, you would need to hire the best employees who knew their worth and salary requirements. Payroll, payroll, payroll was the monthly drum. If Trinity fails to keep up with this, the company will surely not be able to compete for the top medical staff.

 

She knew beforehand how factoring has helped so many other industries but hesitant how it would help the medical staffing industry. Because she wasn?t fully decided on factoring at that time, she made the decision to get a bank loan as usual. The loan she wanted to get was unfortunately not approved. She then went into a smaller bank but got the same rejection. It seemed that the bank didn't have a good understanding of the medical staffing industry. The banks offered lower rates however they were not approved with the idea of loaning the company the needed cash to stay afloat in business.

 

To keep the company going, Justine made a different decision which turned out to be the best for it. She began interviewing factoring companies. A lot of the representatives who came in appeared to be professional however she preferred to go with Jonathan who came in representing his very own factoring company. He was neat, good looking and very smart to speak with. Justine could see he was also interested in the history and background of her company, Trinity Medical Staffing. He understood the medical industry and had a clear vision of how the firm?s needs. He appeared to be the type of person that Justine can rely on when it comes to coordinating with clients for accounts receivables in behalf of Trinity.

 

Jonathan shared he could make use of his skills in the medical industry in order to properly vet her invoices despite the fact that he knew most of her clients and knew that they will able to work together fine. In less than seventy two hours, he would already be able to provide her advance payment for the invoices and so the company would have the freedom of having more cash flow. She had an idea that the factoring company would then get in touch with the medical centers to collect payments for the accounts receivables but she was not worried because she knew that the factoring company will display professionalism. Not only that but Trinity had been able to remove long-time clients invoices from the accounts receivables. Those accounts receivable would only be in the Trinity accounting books. Having this kind of flexibility was one of the main reasons why Justine decided to factor. She was pleased that the factoring company will now take care of the collection process. By utilizing a factoring company, Trinity was able to minimize costs because it had the freedom to remove office positions that are now no longer necessary because the accounting services are now provided by the factoring company, including some tax services.

 

Signing at Jonathan?s factoring contract changed the course of the staffing firm. The numbers just felt right.Due to the good amount of cash that the company received from the invoices, it had been able to go beyond its 30% margins.

 

The firm had been quite successful in its push to recruit pharmacists and respiratory specialists to fill the shortage in various regions especially as the good reputation of the staffing firm spread and medical centers from across the country had begun making inquiries. Furthermore, when a strong hurricane affected the region, the need for plenty of different medical workers surfaced. Hospitals were in great need of temporary staff to provide additional care for the victims.The new depth of cash flow gave Trinity Medical Staffing Solutions the chance to rise to the occasion and fill those staffing needs promptly. The hospitals made payments very slowly after the incident because many of them were waiting for the emergency federal funds however it did not stop the efficiency of Trinity company because they had a strong coordination with a factoring company.

 

Looking at the magazine cover, Justine saw companies like CompHealth printed in bold. Justine was confident even though her company does not make the same amount of profit that CompHealth does because they do have the best network of medical workers. Justine felt a sense of pride learning that her nurses were all highly recommended and were frequently requested by hospitals to renew contracts in the entire region. This was also the same for all other medical workers such as those doctors, therapists and pharmacists who were placed on board on a daily basis. This for sure will not be possible if factoring didn?t come in the picture.

 

 

Jersey City is the seat[20][21] of Hudson County, New Jersey. As of the 2010 United States Census, the population of Jersey City was 247,597,[12][13][14] making it the second-most populous city in New Jersey,[22] after Newark.Part of the New York metropolitan area, Jersey City lies across from Lower Manhattan between the Hudson River and Upper New York Bay and the Hackensack River and Newark Bay. A port of entry, with 11 miles (18 km) of waterfront and significant rail connections, Jersey City is an important transportation terminus and distribution and manufacturing center for the Port of New York and New Jersey. Service industries have played a prominent role in the redevelopment of its waterfront and the creation of one of the nation's largest downtowns.After a peak population of 316,715 measured in the 1930 Census, the city's population saw a half-century long decline to a low of 223,532 in the 1980 Census, but since then the city's population has grown, with the 2010 population reflecting an increase of 7,542 (+3.1%) from the 240,055 counted in the 2000 Census, which had in turn increased by 11,518 (+5.0%) from the 228,537 counted in the 1990 Census

 

 

 

More Trucking Factoring Companies Story Articles

Trucking Companies: The Advantages of Factoring

 

It's the same story right around the country: small trucking companies are trying to expand their businesses but running into the same problems. While the trucking business can be quite lucrative, it can take many weeks or even months to finally get paid on hauling invoices. This creates such a huge cash-flow problem and it seems like you're always playing catch-up in paying salaries and other bills.

 

We just caught up with Steve Anderson, owner of a small trucking company that he built only a few years back. Like so many trucking company owners, Steve really wanted to expand his company in order to satisfy his clients' needs, but was constantly held back by finance issues. We asked him about his situation, the challenges he faced and how Trucking factoring played a real role in helping his company to expand without being burdened by paying back high interest loans.Hi Steve, it's nice to have you here.Steve Anderson: ?Thanks, I appreciate being here.?

 

Can we begin by talking about your trucking company and how it all began for you.SA: ?I had been driving trucks for years when in 2011 I decided to start my own trucking business. I went through the loan process, purchased a couple of trucks and got started. In the beginning it was fantastic, and I was pretty excited: I'd made some connections when driving previously so was lucky to pick up some great business straight away. It seemed like everything was starting to snowball as I was getting requests from other businesses, but I was running into a cash problem.?

 

It seems rather strange that being successful was causing you to be short on cash?SA: ?I know. You see in the trucking business we charge invoices which means that it could take weeks or even months before the cash would roll in. A typical invoice takes anywhere from 45 to 60 days before the payment comes through. So here I was, getting all these great business leads from others, but I didn't have the cash I needed to purchase more trucks and hire the drivers.?So, how did you handle it?

 

SA: I admit that I was getting pretty stressed, because I knew that by the time the cash was available, the business opportunities wouldn't be there. I didn't want to sign up for another loan because that would just be another debt to pay off later, and I really had nothing to sell or any other way of getting money. And at just the right time I overheard one of my friends in the same business talking about Trucking factoring.?Can you explain to me exactly what Trucking factoring is?

 

SA: Well, to put it simply, it's a way for companies like mine to have access to quick cash in payment for the loads we haul. Instead of having to wait weeks or even months sometimes to get paid for hauling, Trucking factoring lets us get money right away for the work that we?ve done.?

 

So how does that work?

 

SA: ?Well, there are companies out there who are willing to purchase the invoices that trucking companies like mine get when we perform a job. I managed to find a good, reputable company that actually purchases the invoices we get after performing a job along with other bills that we charge in our business. In return, I get paid cash so I can cover fuel costs, my payroll and other expenses - and I was able to purchase another truck very quickly.?

 

It seems like you stumbled on a pretty good deal when it comes to Trucking factoring. Are there any other benefits that you?ve enjoyed by using this service?

 

SA: You bet, because the invoices act as the means to pay the company. This is not an ordinary loan where I have to pay back the money. How it works is this: the Trucking factoring company takes a small percentage off the top of each invoice or bill as payment of their fee, and I receive the rest in cash immediately. It?s really worked out for me because not only was I able to get the cash needed to expand my business I was able to pay off my original loan a lot more quickly as well.

 

In fact, I was able to leap onto new business offers more quickly because the Trucking factoring allowed me to start purchasing new trucks and hire drivers months before I could even consider doing that simply waiting on the invoices.This Trucking factoring sounds almost too good to be true, surely there must be a catch somewhere?

 

SA: I wondered the same thing at the beginning: I was pretty sceptical, but it's all been very straightforward. It gets even better - there was no sign-up fee, and I haven't signed any long term contract. I just took a few minutes with them to set everything up and when I turn in an invoice, they pay me cash right on the spot.

 

You mentioned that you didn't sign any long term contracts. Are there a minimum number of invoices or amounts that you have to turn in each month?

 

SA: Actually, no. When I first began working with them I turned over almost all my invoices because I really needed the cash immediately. Now, when I need some cash to pay off bills or make quick purchases, I go to the company with my invoices. Some months I?ve turned in quite a few invoices, other months not so much.

 

You sound very happy with the deal you have with your Trucking factoring company?SA: You bet. I have even used their fuel advances and discount cards to help me save money which really helped out in the first year of my business. I?ve had other trucking owners call me up and ask me how I was able to expand my company as fast as I did. I'm happy to tell anyone who asks: if you have invoices, then Trucking factoring is the only way to get cash fast, without all the stress of having to take out loans and getting even deeper into debt.

 

Steve?s business continues to grow and Trucking factoring was a big reason why he was able to expand so rapidly. If your trucking business is short of needed cash with invoices that have yet to be paid, then you should consider Trucking factoring as a way to put money into your hands right away.

 

 

 

 

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Medical Factoring Companies Articles

How Factoring Helped a Nursing Staff Company in Trouble

 

When Greg McKinley created the Loisa McKinley Nursing Staffing Company back in the year 2001, he was so excited: he had high hopes and big dreams, and expected great things from his new venture. He had only one focus during those first few years, and that was the ensure that they provided second-to-none service and that he employed only the highest trained staff. He didn?t really pay a lot of attention on the expenditures. He continued increasing the top notch nurses he hired. On one end, this had a tremendous benefit and value to the company. Compared to other nursing staffing facilities, their nurses obtained higher renewal rates in their regional hospitals. It wasn't long before the company had become well known all over the region. The company had been known for the excellent care provided by the nurses. Plus of course the company was focused on establishing and maintaining its solid client base.

 

It seemed that overnight the recession hit, and now Greg?s business was becoming severely affected: meeting payroll had now become a problem. The first years were so successful, but it seemed that the longer the company was running the deeper it was getting into a financial mess. In the beginning their payroll amounted to $500 every fortnight. But in the year 2006, their payroll has reached a hefty $50,000 every two weeks. Since he hired top calibre nursing staff, they also had a very huge payroll. At first, Greg thoughts this was okay because he wanted to only give high quality service to clients. However, this wasn't working well for the company now, and they were deep into debt just trying to stay up with payrollNow, however, things had changed, and just meeting payroll was becoming very difficult. The hospitals usually were three to four months late with their payments, and because of this the future success of his company was now very much in doubt.

 

It was too late before Greg saw how the company was running in terms of cash flow. It was already the situation that the company may not continue growing, or even worse, may not survive at all. Greg spent two weeks off from work to clear his mind and come up with a decision. He was determined he wouldn't give up on his company. This business had been his dream since he was a little boy. It was the influence of his mother who worked as a nurse who made him decide to start operating a nursing staffing establishment. And he named it after his mother, Loisa Mckinley Nursing Staffing company. He couldn?t continue on with the business if it was going to be such a personal and financial mess.

 

He had been applying for a loan from different banks but his loan requests were all rejected. The banks weren't familiar with nursing staffing companies and they were concerned about providing help. He really wasn't sure where to turn to next.

 

During his much-needed two -week vacation, Greg attended a three-day seminar for business owners. He formed some great friendships, but the person who stood out most in his mind was Ellie Hopkins, the owner of Hopkins Medical Factoring company. After relating his problems with his company to Ellie, he assured him there was a way out. Ellie went on to explain his factoring company and how it has been helping medical staffing companies thrive in the industry.

 

Greg had never even heard of factoring before. So even after Ellie discussed how he could help his company and how they can work together as partners to bring Loisa Mckinley Nursing Staffing back to business and even work together to expand it, Greg had difficulty understanding and grasping the idea. He asked questions and Ellie had been so nice to give him all the answers he needed. To help Greg understand how it all works, he was given a CD presentation and reading materials to go over. Ellie gave Greg a contact phone number and said to give him a call if he decided he was interested.

 

It was only three days after that seminar that Ellie received a phone call from Greg: he had decided to sign up. Greg's company had an excellent track record, with a loyal and solid client base, so Ellie had no hesitation whatsoever in helping Greg out. Ellie?s company, Hopkins Medical Factoring immediately made advance payments to Greg?s company for the invoices that was handed to them. In all, Greg received about 91% of the invoice total.

 

Since they were good friends, Greg had a deal with Hopkins Medical Factoring that they will not be bound by a contract. The arrangement now is that Greg is free to forward invoices to the factoring company whenever he needs a boost to their cash flow. Greg was so happy because Hopkins Factoring never runs out of cash. Cash is always available when payroll is due or other obligations must be met.

 

Because of this, Greg had been able to continue operating his nursing staffing company. Instead of worrying where to get the money, he had the luxury to focus more on getting the job done, ensuring quality nursing care, having good relationships with the clients and with his workers and being the leader in the provision of quality nursing care to hospitals and clients in the entire region.

 

This would never have been possible without the factoring company. He knew that without it, perhaps the company would have ceased operation a long time ago. He just loved it that Ellie, the owner of Hopkins Medical Factoring also serves as a good friend and business partner, giving him advice on how to run his business and showing sincere interest in helping the company thrive and grow.

 

Now that Greg has the benefit of flexibility, he can send and factor his accounts whenever he feels the need. Now there is no need for Greg to ever be late with payroll or meeting other financial obligations. Loisa Mckinely Nursing Staffing company continued to grow and expand and increase its number of workers and clients and up to this day is the number 1 nursing staffing facility in the region.

 

Greg was well aware that none of this current success could have happened had it not been for factoring. His advice to anyone is business? ?You should know when you need help and most of all, you should be wise enough to turn to the right help. Banks will only put you in more debt and they can not help you, if they do not understand your business at all.?

 

 

Trucking Factoring  Articles

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

 

More than forty years ago Josh's father had started this business working as an owner-operator and eventually growing Stewart Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Josh?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. But now things were different: the company was in Josh's hands and he needed to ensure that this business would be left in great shape for his sons.

 

There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. He had employees to pay. 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. He knew that turning down these requests made Stewart 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. Josh allowed himself a good hard chuckle. He remembered when his father was totally against installing GPS units in the cabs. He would say, ?Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?? He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.

 

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

 

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

 

Now it was time for Josh to do his homework. Josh 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 colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He was quite happy to sign an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he wouldn't have to keep going back and forth to different companies. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. In fact there were a few companies who offered him a non-recourse factoring program, and this was exactly what he had been hoping for. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

For Josh it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies didn?t worry over his credit and the debt troubles his father had had in the past of the company. Factoring was based on the credit of his customers and on their reliability which worked well for Josh because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients wouldn't have any problems, nor would they think poorly of Stewart 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.

 

Josh 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 Stewart Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons wouldn't be inheriting a financial mess.

 

 

 

More Trucking Factoring Company Story Articles

"

Factoring in the Future of a Trucking Business: A StoryJosh Stewart let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Josh is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Joshson Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

More than forty years ago Josh's father had started this business working as an owner-operator and eventually growing Stewart Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Josh?s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. But now things were different: the company was in Josh's hands and he needed to ensure that this business would be left in great shape for his sons.

 

To move Stewart Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Stewart Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Josh allowed himself a good hard chuckle. 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?? He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Josh believed a successful man is always thinking of his next step. How would he take Stewart Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.

 

But was factoring the answer? If he was being honest, he didn't really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. 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. During those thirty days the trucking company can't pay its employees and bills with invoices.

 

Now it was time for Josh to do his homework. Josh 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! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn?t have to bother going back and forth to different companies and wasting time filing more forms. 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. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were more personable than those loan managers at the bank. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies 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 Josh because he and his father had built up good strong relationships over decades with their list of clients. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn't have any problems, nor would they think poorly of Stewart 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.

 

Josh stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. 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, Josh could actually expand Stewart Trucking Company further across the country and perhaps even go international into Canada. His heart felt full knowing his sons wouldn?t have to worry about money because of the right decisions he had made for their trucking business.

 

"

 

 

 

"

Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. Rather the financing you receive from a Trucking Factoring company is based on money your business has already earned, but have 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 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. You Won't Incur Debt. Since the Trucking Factoring company actually buys your accounts receivable you don't actually incur debt like you do with a bank loan. This has many benefits including the fact, that this type of financing won't affect either your business credit rating or your personal credit rating. Should the unforeseeable happen and your business fails, you won't have to worry about anyone coming after your personal as well as your business assets to pay off a loan. 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. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you aren't required to provide collateral to the Trucking Factoring company in order to secure financing, because the company ?buys? the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it's easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

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

 

4.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you don't have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So you don't have to worry about monthly loan repayments, and you don't have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

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

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.While a Trucking Factoring company is not the only way for your business to obtain the money it needs to keep growing, it does offer a type of financing well worth considering.

 

"

Oilfield Services Factoring Companies Articles

 

Jim Burton felt in despair as the thick smoke came out into the open air. His truck?s engine was done. Jim was totally disappointed that he couldn't keep himself from slapping the hood of his truck all because he has a new crew of welders which would need his extra attention. He had known the truck?s engine was dying long ago but he just thought if he kept making a few repairs that he could have it running a bit longer. There wasn?t anymore money left in the Burton Oilfield Services cash flow for a new vehicle. He already had spent the money for new pneumatic trailers so they could do the frac sand hauling services for his clients. They brought good for the company however they were also quite a bit expensive.

 

Burton kept the company small and easy to maintain and handled welding services alone but just like a baby, the company also had to show growth. All over their area the frac business was booming so he spent his savings to feed his growing child because you can?t feed any family on the white paper that invoices are printed on. Now he doesn't know what to do because if he buy a new truck he wouldn't be able to pay his new workers at the end of the month.His crews couldn?t pay their bills with an invoice or wait out the 90 days for the hard cash from customers to come either.

 

His friend named Dan had given him advice to utilize a factoring company so he could buy new trailers for the company during an Elks Lodge meeting. Dan was telling him about it because he had bought a pneumatic trailer too with the factoring money. There is always a sense of competition between the two of them however Jim also knew that he is way behind compared to Dan.He thought perhaps the factoring thing could also work for him and his company and maybe he could finally found something to brag about to Dan at the next Elks Lodge meeting.

 

So Jim hitched a ride back to the office with one of his crews. He received good feedback on the new guys so he began to do investigation on factoring companies using the internet. There were so many companies offering factoring services. Several of these companies were so huge and even handled factoring for industries outside of the trucking business. There were also not so huge companies which only focused on the oilfield business. He went for half and half. He contacted some of the big factoring firms and at the same time also got in touch with some of the small ones. What he learned about factoring amazed him.

 

He almost couldn't believe its true. No interest was needed to be paid, so he didn?t have to spend one single cent extra beyond the invoice amount to get the money. It was certainly a more attractive deal than a bank loan which was always the amount of money you needed and then the amount you had to pay in interest. He was also not investigated regarding his credit and the factoring company did not do any background check on him or on his company's credit report. The factoring company was only concerned whether his clients were reliable enough and the good thing is that he already thoroughly checked it.

 

Jim didn't loved anything more than being out working with his men.He disliked it whenever he had to be in the office to do all the paperwork and he would rather be with his workers laughing while working instead of sit in the chair to be in meetings.It was a big thing for him that the factoring company will take over a huge portion of his office work by offering services such as analyzing credit for new potential customers, collecting payments, and doing most of anything related to billing. He also had the choice of which accounts he would allow the factoring company to handle so he can keep those accounts which are in close business with the company. Jim gained a great sense of comfort in knowing that the factoring company had already established a working relationship with many of his big name clients, so it was an easy transition to place most of his accounts receivable in their hands.

 

The moment he had already picked a factoring company to work with, he just needed to complete an application form and have his secretary fax all required documentation including the accounts receivable report.It was so fast and the next thing after that is that the factoring company already sent him a copy of the contract which he had to sign and then the payment for the invoices was already paid immediately to Burton Oilfield Services. The money wired over was nearly 85% of his invoice. Some money had been saved as a reserve by the factoring company and would be reimbursed once the invoice was paid in full by the customers, but Jim had no worries. He had complete confidence in the clients he had on the list and knew for sure that he would be able to get all those money later on. The core of the money was already in his pocket and ready cash flow for getting the things done that the company relied on.

 

Jim and his company are now able to expand to more work. He just had to keep the receivables coming so that money would be ready and so he is able to bid for twice as much jobs as compared to before when he didn't use factoring yet. Now, he can stop worrying about where to get the money for tools, payroll and gasoline to keep up with new projects. He also has the resources now to hire more people such as journeymen pipe layers and welders to cater to big welding projects or perhaps lead the hand welding industry. He can imagine feeling so proud while telling Dan at the next Elks Lodge meeting that he has purchased new cold bending equipment. Jim was dying to give a raise to his men. For a year and half now, his men never had any raise. He believed that his workers were deserving of a higher paycheck as compared to the union men who had been on him. Factoring enabled him to do a lot of things which he never considered was possible. A free source of cash would certainly enable him to achieve his dream of expanding and developing his business so that it can become a huge company which he always believed it could be.