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Little Cash Flow Leaks That Keep Companies Poor - Our Receivable Loan Company Can Give
Your Freight Company The Cash Your Company Needs

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trucking invoice factoring companies

Small trucking companies, particularly those who have not been in existence for very long, will frequently find it hard to protect a loan. Banks are often hesitant to lend cash to businesses that do not have a great deal of earnings and assets. They likewise desire proof of the viability of a company and hence need that many operations, particularly little ones, be in business for a particular amount of time prior to they are willing to hand over any money. Since of this, a medium-size business commonly has a couple of cash creating alternatives when requires emerge. One alternative available, however frequently overlooked, is invoice factoring. This is an exceptional way for a small business to obtain money.

 

 

 

 

 

 

 

How I Improved My Profits in One Evening - Pick A Freight�Factoring Company  Instead Of A Regular Bank Financing

How to Enhance Money Flow Without Loaning -Cash Money flow is one of the primary reasons businesses fail.

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

Money flow does not have to be an issue any more. Do not be fooled -- banks are not the only locations you can get funding. Other solutions are available and you do not have to borrow. Exactly what is truck factoring ? One solution is called truck factoring. Trucking Factoring is the process of selling accounts receivable to an investor rather than waiting to gather the cash from the customer. Oh, the Irony- Trucking factoring has a paradoxical distinction: It is the financial foundation of numerous of America's most effective companies. Why is this paradoxical ? Since invoice factoring is not instructed in business colleges, is rarely discussed in company plans and is fairly unidentified to the majority of most of American company people.

Yet it is a monetary process that frees billions of dollars every year, enabling countless companies to grow and succeed. Receivable Financing has been around for countless years. Invoice Factoring Businesses are investors who pay cash 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 offers solely with business-to-business deals, a big portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Using the purest meaning of the word, these big customer finance companies are really simply big Commercial Factoring Companies of customer paper. Think about it: You purchase at Sears and charge it to your MasterCard. The shop makes money almost immediately, although you do not pay up until you are prepared.

For this service, the charge card business charges XYZ Store a fee (typical common normal charges range from 2 to four percent of the sale). The Benefits Accounts Receivable Factoring can provide many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on an item that has actually already 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 requirements that can be met with instant  money.

Invoice Factoring provides the ways for a manufacturer to renew inventory and make more items to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not just a cash management device for producers: Practically any kind business can benefit from Factoring. Generally, a company that extends credit will have 10 to 20 percent of its yearly sales tied up in accounts receivable at any given time. Think for a minute about exactly how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can offer that invoice for the cash to satisfy those obligations. Using truck factoring companies is a quick and easy procedure. The factor buys the invoice at a price cut, usually a few percentage points less than the stated value of the invoice.

 

 

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"

Baltimore (/'b??lt??m?r/, locally: ['b??.m??]) is the largest city in the State of Maryland, the largest independent city in the United States, and the 26th-most populous city in the country. It is located in the central area of the state along the tidal portion of the Patapsco River, an arm of the Chesapeake Bay. The independent city is often referred to as Baltimore City to distinguish it from the surrounding Baltimore County. Founded in 1729, Baltimore is the second largest seaport in the Mid-Atlantic United States and is situated closer to Midwestern markets than any other major seaport on the East Coast. Baltimore's Inner Harbor was once the second leading port of entry for immigrants to the United States and a major manufacturing center. After a decline in major manufacturing, industrialization and rail transportation, Baltimore shifted to a service-oriented economy, with the Johns Hopkins Hospital (founded 1889), and Johns Hopkins University (founded 1876), now serving as the city's top two employers.With a population of 622,104 as of July 1, 2013, Baltimore increased by 762 residents over the previous year, ending over six decades of population loss since its peak in 1950. The Baltimore Metropolitan Area has grown steadily to approximately 2.7 million residents in 2010; the 20th largest in the country. Baltimore has the second largest population (after Washington, D.C.), and is a principal city in, the greater Baltimore�Washington metropolitan area with a total of approximately 9.44 million residents (as of 2013 estimates).With hundreds of identified districts, Baltimore has been dubbed ""a city of neighborhoods"", and has been more recently known as ""Charm City"", to go along with its older moniker of ""The Monumental City"" (coined by sixth President John Quincy Adams in 1827), and its more controversial 19th-century sobriquet of ""Mobtown"". The talents of writers Edgar Allan Poe and H.L. Mencken, jazz musician James ""Eubie"" Blake and singer Billie Holiday, as well as the city's role in the War of 1812 and Francis Scott Key's writing of ""The Star-Spangled Banner"", which later became the American national anthem, have all contributed to the city's historical importance.According to the Brookings Institution, almost a quarter of the jobs in the Baltimore region are science, technology, engineering and math positions. The Baltimore area is known for health and science, which is in part attributed to the prestigious Johns Hopkins University, with its extensive undergraduate and graduate schools, the University of Maryland at Baltimore, and other smaller schools such as the University of Baltimore, the science-heavy University of Maryland, Baltimore County, (in Catonsville), Loyola University, Notre Dame University Maryland, Stevenson University, (formerly Villa Julie College � in suburban Stevenson), Goucher College, (in suburban Towson), and the Maryland Institute College of Art.Once a predominantly industrial town, with an economic base focused on steel processing, shipping, auto manufacturing, and transportation, the city experienced deindustrialization which cost residents tens of thousands of low-skill, high-wage jobs. The city now relies on a low-wage service economy, which accounts for 90% of jobs in the city.

 

Frederick is the county seat of Frederick County, the largest county by area in the State of Maryland. Frederick has been an important crossroads community since it was located in colonial times at the intersection of an important north-south Indian trail, and east-west routes to the Chesapeake Bay both at Baltimore and what became Washington, D.C. and across the Appalachian mountains to the Ohio River watershed. The gateway to western Maryland is now within the Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area, which is part of a greater Washington-Baltimore-Arlington, DC-MD-VA-WV-PA Combined Statistical Area. The city's population was 65,239 people at the 2010 United States Census, making it the second-largest incorporated city in Maryland, behind only Baltimore.Frederick is home to Frederick Municipal Airport (IATA: FDK), which primarily accommodates general aviation traffic, and to the county's largest employer U.S. Army's Fort Detrick bioscience/communications research installation.According to the city's 2013 Comprehensive Annual Financial Report, the top employers in the city are:

 

Rockville is a city located in the central region of Montgomery County, Maryland. It is the county seat and is a major incorporated city of Montgomery County and forms part of the Baltimore�Washington metropolitan area. The 2010 census tabulated the Rockville's population at 61,209, making it the third largest incorporated city in Maryland, behind Baltimore and Frederick. Rockville is the largest incorporated city in Montgomery County, Maryland, although the nearby census-designated place of Germantown is more populous.Rockville, along with neighboring Gaithersburg and Bethesda, is at the core of the Interstate 270 Technology Corridor which is home to numerous software and biotechnology companies as well as several federal government institutions. The city also has several cale regional shopping centers and is one of the major retail hubs in Montgomery County.

 

Gaithersburg ( pronunciation (help�info)),[N 1] officially the City of Gaithersburg, is a city located in Montgomery County, Maryland. At the time of the 2010 census, Gaithersburg had a population of 59,933, making it the fourth largest incorporated city in the state, behind Baltimore, Frederick, and Rockville. Gaithersburg is located to the northwest of Washington, D.C., and is considered a suburb and a primary city within the Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Statistical Area. Gaithersburg was incorporated in 1878.Gaithersburg is divided into east and west sections, separated by Interstate 270. The eastern section of the city is older and is the original portion of the town before more recent growth. Landmarks and buildings from that time can still be seen in many places but especially in the historic central business district of Gaithersburg called ""Olde Town"". The east side also includes Lakeforest Mall, City Hall, and the Montgomery County Fair grounds. The west side of the city has many wealthier neighborhoods that were designed with smart growth techniques and embrace New Urbanism. These include the award-winning Kentlands community, the Lakelands community, and the Washingtonian Center (better known as The Rio), a popular shopping/business district. Three New Urbanism communities are under construction, including Crown Farm, Watkins Mill Town Center (Casey East and West), and the massive ""Science City"". The state has a bus rapid transit line, Corridor Cities Transitway or ""CCT"", planned for the western portion of the city starting at Shady Grove Metro Station and connecting all the high density western Gaithersburg neighborhoods with a total of eight stops planned in the city.ajor employers in the city include IBM, Lockheed Martin Information Systems and Global Services business area headquarters, MedImmune (recently purchased by AstraZeneca), and the French multinational corporation, Sodexo.Gaithersburg is also the location of the garrison of the United States Army Reserve's 220th Military Police Brigade.According to the City's 2009 Comprehensive Annual Financial Report, the top employers in the city are:

 

Bowie /'bu?i/ is a city in Prince George's County, Maryland. The population was 54,727 at the 2010 U.S. Census. Bowie has grown from a small railroad stop to the largest municipality in Prince George's County, and the fifth most populous city and third largest city by area in the U.S. state of Maryland.According to the City's 2012 Comprehensive Annual Financial Report, the largest employers in the city are:

 

Hagerstown /'he?g?rzta?n/ is a city in Washington County, Maryland. It is the county seat of Washington County, and by many definitions, the largest city in a region known as Western Maryland (if Frederick County is excluded from Western Maryland).[1] The population of Hagerstown city proper at the 2010 census was 39,662, and the population of the Hagerstown-Martinsburg Metropolitan Area (extending into West Virginia) was 269,140. Hagerstown ranks as Maryland's sixth largest city.[7]Hagerstown has a distinct topography, formed by stone ridges running from northeast to southwest through the center of town. Geography accordingly bounds its neighborhoods. These ridges consist of upper Stonehenge limestone. Many of the older buildings were built from this stone, which is easily quarried and dressed onsite. It whitens in weathering and the edgewise conglomerate and wavy laminae become distinctly visible, giving a handsome and uniquely �Cumberland Valley� appearance. Several of Hagerstown�s churches are constructed of Stonehenge limestone and its value and beauty as building rock many be seen particularly in St. John�s Episcopal Church on West Antietam Street and the Presbyterian Church at the corner of Washington and Prospect Streets. Brick and concrete eventually displaced this native stone in the construction process.[8]Hagerstown anchors the Hagerstown-Martinsburg, MD-WV Metropolitan Statistical Area, which lies just northwest of the Washington-Baltimore-Northern Virginia, DC-MD-VA-WV Combined Statistical Area in the heart of the Great Appalachian Valley. The population of the metropolitan area in 2010 was 269,140. Greater Hagerstown is the fastest-growing metropolitan area in the state of Maryland and among the fastest growing in the United States.[9]Despite its semi-rural Western Maryland setting, Hagerstown is a center of transit and commerce. Interstates 81 and 70, CSX, Norfolk Southern, and the Winchester and Western railroads, and Hagerstown Regional Airport form an extensive transportation network for the city. Hagerstown is also the chief commercial and industrial hub for a greater Tri-State Area that includes much of Western Maryland as well as significant portions of South Central Pennsylvania and the Eastern Panhandle of West Virginia. Hagerstown has often been referred to as, and is nicknamed, the Hub City.[1] A person born in Hagerstown is officially called a Hagerstonian.Once primarily an industrial community, Hagerstown's economy depended heavily on railroad transportation and manufacturing, notably of aircraft, trucks, automobiles, textiles, and furniture.[1] Today, the city has a diversified, stable business environment with modern service companies in various fields as well as continued strength in manufacturing and transportation in railroads and highways. Surrounding Hagerstown, there has been and continues to be a strong agricultural presence while tourism, especially with respect to the retail sector, also provides support to the local economy.

 

Annapolis (/?'n�p?l?s/) is the capital of the U.S. state of Maryland, as well as the county seat of Anne Arundel County. Situated on the Chesapeake Bay at the mouth of the Severn River, 25 miles (40 km) south of Baltimore and about 30 miles (48 km) east of Washington, DC, Annapolis is part of the Baltimore�Washington metropolitan area. Its population was measured at 38,394 by the 2010 census.The city served as the seat of the Continental Congress in 1783�84 and was the site of the 1786 Annapolis Convention (which called for the Constitutional Convention held the following year) and the Annapolis Peace Conference, held in 2007. Annapolis is the home of the United States Naval Academy and the original campus of St. John's College.According to the City's 2009 Comprehensive Annual Financial Report,[42] the top employers in the city, excluding state and local government, are:

 

College Park is a city in Prince George's County, Maryland. The population was 30,413 at the 2010 United States Census. It is best known as the home of the University of Maryland, College Park, and since 1994 the city has also been home to the ""Archives II"" facility of the U.S. National Archives.College Park's United States Postal Service ZIP codes are 20740, 20741 (Berwyn Heights; North College Park) and 20742 (University of Maryland).According to the City's 2009 Comprehensive Annual Financial Report,[14] the top employers in the city are:

 

Salisbury /'s??lzb?ri/ is a city in southeastern Maryland, USA. It is the county seat of Wicomico County and the largest city in the state's Eastern Shore region. The population was 30,343 at the 2010 census. Salisbury is the principal city of the Salisbury, Maryland-Delaware Metropolitan Statistical Area. The city is the commercial hub of the Delmarva Peninsula and calls itself ""the Crossroads of Delmarva"".Salisbury is located near several major cities: Baltimore 106 miles (171 km); Washington, D.C. 119 miles (192 km), Philadelphia 128 miles (206 km), Norfolk 132 miles (212 km), Dover 50 miles (80 km), and Wilmington 96 miles (154 km).

 

Laurel is a city in northern Prince George's County, Maryland, in the United States, located midway between Washington, D.C., and Baltimore on the Patuxent River. Founded as a mill town in the early 19th century, the arrival of the Baltimore & Ohio Railroad in 1835 expanded local industry and later enabled the city to become an early commuter town for Washington and Baltimore workers. Largely residential today, the city maintains a historic district centered on its Main Street, highlighting its industrial past.The Department of Defense is a prominent presence in the Laurel area today, with the Fort Meade Army base, the National Security Agency, and Johns Hopkins University's Applied Physics Laboratory all located nearby. The Laurel Park Racecourse, a thoroughbred horse racetrack, is located just outside city limits.The population of the city proper as of the 2010 census was 25,115, though the Laurel name has grown to encompass several adjacent unincorporated areas of Prince George's, Howard, Montgomery, and Anne Arundel counties, with a total population of 102,149.

 

Greenbelt is a city in Prince George's County, Maryland, United States. Contained within today's City of Greenbelt is the historic planned community now known locally as ""Old Greenbelt"" and designated as the Greenbelt Historic District. Greenbelt's population was 23,068 at the 2010 U.S. Census.Greenbelt is known widely as a public cooperative community founded in the New Deal Era. Greenbelt was one of three ""green"" towns planned in 1935 under the United States Resettlement Administration, along with Greendale, Wisconsin (near Milwaukee) and Greenhills, Ohio (near Cincinnati).According to Greenbelt's 2011 Comprehensive Annual Financial Report,[29] the top employers in the city were:

 

Cumberland, officially the City of Cumberland, is a western gateway city and seat of Allegany County, Maryland, and the primary city of the Cumberland, MD-WV Metropolitan Statistical Area. At the 2010 census, the city had a population of 20,859, and the metropolitan area had a population of 103,299. Cumberland is a regional business and commercial center for Western Maryland and the Potomac Highlands of West Virginia.Historically Cumberland was known as the ""Queen City,"" as it was once the second largest in the state. Cumberland is often referred to as ""Where the South Begins."" Because of its strategic location, after the American Revolution at the time of heavy migration across the Appalachian Mountains by pioneers, it served as a historical outfitting and staging point for westward emigrant trail migrations throughout the first half of the 1800s. In this role, it supported the settlement of the Ohio Country and the lands of in that latitude of the Louisiana Purchase. It also became an industrial center, served by major roads, a canal connecting to Washington, DC, and railroads.Industry declined after World War II, and later urban, business and technological development in the state has been concentrated in eastern coastal cities. Today the Cumberland, MD-WV Metropolitan Statistical Area is one of the poorest in the United States, ranking 305th out of 318 metropolitan areas in per capita income.

 

Westminster is a city in northern Maryland, United States. It is the seat of Carroll County. The city's population was 18,590 at the 2010 census. Westminster is an outlying community within the Baltimore-Towson, MD MSA, which is part of a greater Washington-Baltimore-Northern Virginia, DC-MD-VA-WV CSA.According to the City of Westminster, the top employers in the city are:

 

Hyattsville is a city in Prince George's County, Maryland, and also a close, urban suburb of Washington D.C. The population was 17,557 at the 2010 United States Census.

 

Takoma Park is a city in Montgomery County, Maryland. It is a suburb of Washington, D.C., and part of the Washington metropolitan area. Founded in 1883 and incorporated in 1890, Takoma Park, informally called ""Azalea City,"" is a Tree City USA and a nuclear-free zone. A planned commuter suburb, it is situated along the Metropolitan Branch of the historic Baltimore and Ohio Railroad, just northeast of Washington, D.C., and it borders the neighborhood of Takoma, Washington, D.C. It is governed by an elected mayor and six elected councilmembers, who form the city council, and an appointed city manager, under a council-manager style of government. The city's population was 16,715 at the 2010 national census.Residents of Takoma Park can vote in municipal elections when they turn sixteen. It is the first city in the United States to extend voting rights to 16 and 17 year olds in city elections.According to the City's 2009 Comprehensive Annual Financial Report,[34] the top employers in the city are:

 

Aberdeen is a city in Harford County, Maryland, 26 miles (42 km) from Baltimore. The population was 14,959 at the 2010 United States Census. Aberdeen is the largest municipality in Harford County.Aberdeen is part of the Baltimore-Towson Metropolitan Statistical Area (MSA), which is the 20th-largest United States metropolitan area. The nearest city to Aberdeen is Havre de Grace, Maryland, 4.8 miles (7.7 km) to the northeast.

 

Havre de Grace i/?h�v?r d?'gre?s/, abbreviated HdG, is a city in Harford County, Maryland, situated at the mouth of the Susquehanna River and the head of Chesapeake Bay. It is named after the port city of Le Havre, France, which in full was once Le Havre de Gr�ce (French, ""Haven of Grace""). The population was 12,952 at the 2010 United States Census. The city was honored as one of America's 20 best small towns to visit in 2014 by Smithsonian magazine.

 

Cambridge is a city in Dorchester County, Maryland, United States. The population was 12,326 at the 2010 census. It is the county seat of Dorchester County and the county's largest municipality. Cambridge is the fourth most populous city in Maryland's Eastern Shore region, after Salisbury, Elkton and Easton.

 

New Carrollton is a city located in central Prince George's County, Maryland, in the United States. As of the 2010 U.S. Census, the population was 12,135. New Carrollton is located 12 miles (19 km) east of central Washington, D.C.

 

Frostburg is a city in Allegany County, Maryland, United States and is located at the head of the Georges Creek Valley. It is part of the Cumberland, MD-WV Metropolitan Statistical Area. The population was 9,002 at the 2010 census. Located 8 miles (13 km) west of Cumberland, the town is one of the first cities on the ""National Road"", US 40, and the western terminus of the Western Maryland Scenic Railroad. Since 1991, the city has been served by Interstate 68.The City of Frostburg has an approximate year-round population of 8,075. In addition, 5,400 students attend Frostburg State University, a public university within the University System of Maryland.Frostburg was originally called Mount Pleasant until 1820, when the government developed a postal service, and the town was renamed Frostburg.

 

Mount Rainier /re?'n??r/ is a city in Prince George's County, Maryland, United States. The population was 8,080 at the 2010 census. Bordering Washington, D.C., Mount Rainier got its start as a streetcar suburb. (See Streetcars in Washington, D.C.) According to local tradition, surveyors from the Pacific Northwest named the town, giving the streets names such as ""Shasta"" and ""Cascade"". Historic U.S. 1 runs through the center of the town and serves as the main street and central business district.

 

Taneytown (pronunciation: /'t??nita?n/ TAW-nee-town) is a town in Carroll County, Maryland, United States. The population was 6,728 at the 2010 census. Taneytown was founded in 1754. Of the town, George Washington once wrote, ""Tan-nee town is but a small place with only the Street through wch. the road passes, built on. The buildings are principally of wood."" Taneytown has a history museum that displays the history of the town for visitors and citizens to see. The Bullfrog Road Bridge was listed on the National Register of Historic Places in 1978.

 

Glenarden is a city in Prince George's County, Maryland, United States. The population was 6,000 at the 2010 census.

 

Brunswick is a city in Frederick County, Maryland, United States. The population was 5,870 at the 2010 census.

 

District Heights is an incorporated city in Prince George's County, Maryland, located near Maryland Route 4. The population was 5,837 at the 2010 United States Census. For more information, see the separate articles on Forestville, Maryland and Suitland.District Heights is 9.85 miles (15.85 km) away from central Washington, D.C.

 

Fruitland is a city in Wicomico County, Maryland, United States. The population was 4,866 at the 2010 census. It is included in the Salisbury, Maryland-Delaware Metropolitan Statistical Area.

 

Seat Pleasant is an incorporated city in Prince George's County, Maryland, United States, immediately east of Washington D.C. The population was 4,542 at the 2010 census. Two state highways run through it � Maryland Route 704 (now called Martin Luther King Highway and previously named George Palmer Highway after a banker and community leader) and Maryland Route 214 (Central Avenue). The Washington Metro's Blue Line is nearby. The stadium is east of Seat Pleasant, near the Capital Beltway (I-95/495).

 

Pocomoke City, dubbed ""the friendliest town on the Eastern Shore"", is a city in Worcester County, Maryland, United States. Although renamed in a burst of civic enthusiasm in 1878, the city is regularly referred to by its inhabitants simply as Pocomoke /'po?k?mo?k/. The population was 4,184 at the 2010 census. It is part of the Salisbury, Maryland-Delaware Metropolitan Statistical Area.

 

Crisfield /'kr?sfi?ld/ is a city in Somerset County, Maryland, United States, located on the Tangier Sound, an arm of the Chesapeake Bay. The population was 2,726 at the 2010 census. It is included in the Salisbury, Maryland-Delaware Metropolitan Statistical Area. Crisfield has the distinction of being the southernmost incorporated city in Maryland.The site of today's Crisfield was initially a small fishing village called Annemessex Neck. During European colonization, it was renamed Somers Cove, after Benjamin Summers. When the business potential for seafood was discovered, John W. Crisfield decided to bring the Pennsylvania Railroad to Crisfield, and the quiet fishing town grew. Crisfield is now known as the ""Seafood Capital of the World"".The city's success was so great that the train soot and oyster shells prompted the extension of the city's land into the marshes. City residents often claim that the downtown area is literally built atop oyster shells.Crisfield began to slip into decline along with the declining health of the Chesapeake Bay, prompting a ""strategic revitalization plan"" to address the city's future needs. Currently, Crisfield is largely a tourist destination. It hosts many annual events and festivals, the most prominent of which is the National Hard Crab Derby. Crisfield is also a major gateway to Smith Island and Tangier Island.Crisfield's economy is centered largely around retail, health care, and automotive.[3] Seafood is also an important part of Crisfield's economy, just as it has been for most of its existence, with several packing plants existing within the city. The largest employer inside Crisfield's limits is the McCready Memorial Hospital. The second largest employer in the city is the plant (formerly set company), which manufactures paintbrushes and roller covers.[29]

 

"

 

Maryland

 

Maryland Cities

 

The U.s. Trucking Association
mentions that there are about
205,000 workers with transportation
companies and
276,000 private service providers trucking
companies licensed to
operate in the U.S. that transported,
according to their most current listings of millions of
items, materials and
standard materials .
There are a number of usual
providers either going solo or in
teams on our nation
roadways transporting these
important products to our
stores, manufacturingplants and harbors.

And freight invoice factoring
firms help
countless of them and offer their
receivables financing services
countrywideincluding
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

 

Maryland's economic activity is strongly concentrated in the tertiary service sector, and this sector, in turn, is strongly influenced by location. One major service activity is transportation, centered on the Port of Baltimore and its related rail and trucking access. The port ranked 17th in the U.S. by tonnage in 2008.[83] Although the port handles a wide variety of products, the most typical imports are raw materials and bulk commodities, such as iron ore, petroleum, sugar, and fertilizers, often distributed to the relatively close manufacturing centers of the inland Midwest via good overland transportation. The port also receives several different brands of imported motor vehicles and is the number two auto port in the U.S. A second service activity takes advantage of the close location of the center of government in Washington, D.C. and emphasizes technical and administrative tasks for the defense/aerospace industry and bio-research laboratories, as well as staffing of satellite government headquarters in the suburban or exurban Baltimore/Washington area. In addition, a number of educational and medical research institutions are located in the state. In fact, the various components of The Johns Hopkins University and its medical research facilities are now the largest single employer in the Baltimore area. Altogether, white collar technical and administrative workers comprise 25 percent of Maryland's labor force, attributable in part to nearby Maryland being a part of the Washington Metro Area where the federal government office employment is relatively high. Maryland has a large food-production sector. A large component of this is commercial fishing, centered in the Chesapeake Bay, but also including activity off the short Atlantic seacoast. The largest catches by species are the blue crab, oysters, striped bass, and menhaden. The Bay also has overwintering waterfowl in its wildlife refuges. The waterfowl support a tourism sector of sportsmen. Manufacturing, while large in dollar value, is highly diversified with no sub-sector contributing over 20 percent of the total. Typical forms of manufacturing include electronics, computer equipment, and chemicals

 

 

 

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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.

 

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

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

 

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

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

 

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.

 

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.

 

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

 

 

"

Nguyen Truck and Haul has been in 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, Nguyen 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 down. And worse yet, Nguyen 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 Nguyen, Cory Kennedy, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. The number of clients who were late in their payments was continuing to grow.He had gone to his administrators and asked them what the problem had been. Were they doing things different, or wrong, when it came to collecting overdue accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Nguyen money had jumped ship and decided to leave him holding the bag.

 

. 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 Nguyen hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Cory Kennedy to have some very restless nights. Cory 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 Tamara and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he would say with deep woe.""What could you do differently?"" she would say.Cory 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 somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" said Cory. ""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."" Linda could only grab her husband's hand and look at him lovingly, ""it is a hard economy. It might be awhile until things get settled up.

 

""Cory knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The next day Cory strolled into his office and was determined to sit down and make every phone call to every client who had owed Nguyen money. This wasn't really a very efficient way for a Chief Executive to spend his day, and Cory 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 Cory was realising just how much trouble he was in.Poor Cory 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.

 

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

 

""Sure thing Myrtle, come on in."" Cory relaxed back into his chair and looked up at Myrtleerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Cory."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It does sound vaguely familiar. What is 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.""Cory interrupted ""Immediately?"".""Immediately, yes"" she added, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It provides a very broad view.""Cory replied cautiously ""I see - and what happens then?""Following the completion of their review and once we have been approved for a contract with the factoring company, then we sit down to negotiate conditions and terms. There�s a lot of flexibility depending on the business volume and credit histories. The company will advise us the cost to purchase factoring for our company's accounts receivable. The funding commences once we�ve arrived at an agreement.�Cory leaned forward and reviewed the paperwork closely.""It sounds too good to be true, Myrtle,"" he said.""Now, now, I know, I thought the same thing. But really, they have guaranteed us experts that do all the legwork, which would free us up here to focus on our clients in good standing and marketing, all that good stuff. And they're flexible Cory,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. Apparently they can figure this all out in two to four days.

 

""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. We need to keep business rolling as normal and every day we�re going unpaid, we�re closer to facing some serious problems in both the short and long term,"" said Cory.He took a deep breath and looked at his secretary with something she recognized as hope.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Cory thought about this and agreed with Myrtleerley. The customers who were in debt to Nguyen Truck & Haul were professional resources of the company, but they were also long-standing friends. Cory wasn't prepared to lose these relationships just because they were having financial issues at the moment. He was well aware that the economy was in a bad way and that it might be quite a while before things started picking up. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. He did not want to lose business but he also did not want to lose any more money.""Let me go over this tonight Myrtle, and thankyou."" Myrtle nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Cory keep the shirt on his back, and possibly hers too.Cory sat behind his desk and looked over the details Myrtle had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Nguyen Truck & Haul with? Running his pencil down the sheet, he noted that the freight factoring company could assist with fuel costs, fuel advances, and fuel discount cards. In fact, Nguyen could receive up to fifty-percent cash advances upon load pick-ups. Cory 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 Earl the good news,"" muttered Cory to himself.His son-in-law Earl had liked the idea of Nguyen so much and revered his father in law for having such business acumen that only two years before, he had gathered the venture capital to begin his own transportation service company. Cory knew then what struggles Earl would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Nguyen was struggling then the little guys, like Earl, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Cory was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Cory was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They took that time and refocused effort to offering competitive prices in new territories. Cory recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.

 

"

 

 

 

More Trucking Factoring Companies Story Articles

Factoring in the Future of a Trucking Business: A Story Ernest Long 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. Long 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 Ernest's father had started this business working as an owner-operator and eventually growing Long Trucking Company into a fifteen trailer fleet. Yes, they had survived some very difficult times when it appeared like they might go under, and even Ernest'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. But now things were different: the company was in Ernest'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 Long 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'. Ernest 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.

 

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

 

He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. 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.

 

Ernest had to really consider what his next step was going to be. Ernest had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His 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. 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. 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. Many companies offered a non-recourse factoring program that suited him just fine. 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 extremely helpful and more personable than the bank staff. It seemed as though those bank people spoke another language, but these factoring guys knew the trucking business and spoke to him like a client, not like a beggar for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. All the factoring company was interest in was the credit of his customers and on their reliability: this worked great for Ernest because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients wouldn�t think poorly of Long 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.

 

Feeling happier now, Ernest stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Ernest could actually expand Long Trucking Company further across the country and perhaps even go international into Canada. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

Invoice Factoring Companies

 

Funding Company

 

Watch Our Freight Factoring Videos For More Information

 

 

 

 

 

 

 

Trucking Factoring  Articles

"

�So, this is not a loan?� Casey Gordon asked as he leaned back in his chair, crossing his legs. The woman who sat across the desk smiled and shook her head.�No, not exactly,� she stated.Casey Gordon 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 Micheal. He named his business Cruz Trucking, named after Ted and Jason, his two grandfathers. Both of these men had been very hardworking and had set a great example for Micheal.Disaster had struck half a year ago, when two trucks in Micheal�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. Casey depended on his full fleet, and missing two trucks was devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Casey had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

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.Casey wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Casey knew she was employed by a Factoring company and that her name was Toni. Casey 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.Toni explained. �It�s not a loan, we purchase 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. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Casey nodded. It sounded good to him, almost too good.Toni laughed. �I'm not sure that you 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.�Toni smiled, agreeing. �Yes, we get a lot of that. There's no way we want to see you lose your business. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Toni said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.

 

Casey filled the form out, with Toni available to help him if he needed it. The profile filled Toni and her company in on Micheal�s company, and would help them determine if he was suitable for factoring. In truth, not all companies were. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Casey filled out his form, Toni was pretty sure he was a perfect candidate for factoring.Toni took the completed form and placed it in her briefcase. She then stood, reached across the desk and shook Micheal�s hand. He also stood up, and they smiled at each other. They said their goodbyes and Casey walked her to the door, and then returned to his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He leaned back and closed his eyes. He had felt so helpless lately, was sure the whole thing was collapsing, and would take him with it. Talking to Toni though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He knew it wasn't over yet and that there was still a way to go, but he could just feel everything start to change for him. He was there, he was on the right path, and he was working to make things right.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been successful. Home cooking in his hometown, and he had done very well.But it wasn't what he really wanted to do. He wasn't passionate about the food industry. He thought 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 Cruz Trucking. So he did it. For the second time in his short life he created a company from the ground up. The business had been an instant success.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 it seemed as though he would not have to - all because of Factoring. Micheal's eyes opened, he sat forward in his chair and turned on his computer. He had things to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

More Trucking Factoring Company Story Articles

The reason why Trucking Establishments Use Factoring Companies.

 

As the operator of your own establishment, you may well be more than mindful already of the challenge in making sure that cash flow matters do not become a predicament down the line. Anyway, the toughest thing that can quite possibly happen for your business is to find yourself dragged in a long and hard circumstance that leaves you forever searching for the finances you require on an on-going basis.

 

For virtually any enterprise in this case, the problem can come for waiting for work to clear up and actually be brought in into your balance. Statements, checks, and the like can take a while to actually to be taken care of which may leave you with short-term capital difficulties. Thankfully, there are solutions out there for establishments to delve into-- and among these is factoring firms.

 

Factoring firms will, in exchange for your statements, offer you with the resources asap to ensure that you do not have to fret about the waiting time span that could make paying the expenses and acquiring toolsmore difficult. With this type of arrangement, invoice factoring can come to be incredibly practical for various companies who ought to get out of a money lure which they have discovered themselves in.

 

Simply because, basing on the size of the task, it can take up to 60 days for several establishments to get paid out then it is vital to take care of your own back and certainly not leave yourself resources short to settle the monthly bills. After all, how many businesses have two months revenue just occupying there to address all their expenditures till they get paid?

 

This is especially true of trucking enterprises. They generally take care of good deals of statements which means a notable quantity of collection time entails company owner themselves. Making an effort to get paid promptly can turn into an amazing difficulty and this is why you use trucking factoring organizations who are glad to help out truckers particularly.

 

As most of us determine, trucking is an unbelievably enormous field with lots of companies out there working with hundreds of drivers. Unfortunately, numerous of these drivers land up in income dilemmas since they are still waiting on work from six weeks earlier to actually pay them. When this is the condition for a truck agency, resorting to factoring companies for aid might be the most recommended option left.

 

This means that a trucking corporation can provide the salaries of the work force, keep all the vehicles topped off with gas and continue to escalate, rise and expand without consistently waiting for the finances which is taking too long to come in. Trucking Firms functioning without a factoring system implemented are leaving themselves at significant hazard, as competitions cash out quickly and go on to expand.

 

There's genuinely almost nothing to be troubled about when it comes to using a Factoring business-- they are not like a banking company or an individual who is going to leave you with a large mound of financial debt to pay back. You give them genuine invoices from output you have already finished , you are only just speeding up the payment system.

 

In the Usa, where trucking agencies flourish, factoring enterprises are not considered getting a loan in any capacity. This confidential contract then allows both groups to make money and enjoy a comfortable future-- it provides the factoring business a guaranteed asset of money to add to the list and it offers the trucking firm the needed cash that they worked hard to acquire.

 

The trucking establishment bestows their invoices to the factoring establishment. The trucking factoring company then take the payment amounts from the trucking company's clients. Factoring has been in existence for hundreds of years and has been adopted for many years by numerous various business-- but none exceeding so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending on who you partner with, it means that you are receiving the resources today and can actually start putting the funds to function.

 

Once and for all, an IOU or an invoice is certainly not going to cover bills, is it? For trucking enterprises when the finances can be good one day and gone the next, it is up to the drivers to work smartly and to guarantee they are leaving themselves with a significant quantity 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 temporary cash flow dilemmas and you are spending a lot of time chasing sluggish paying clients, why not begin looking into making use of a factoring companies as a way to get your finances and give yourself a more at ease future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

"

Traditional 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. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Once the loan is paid off, you can then apply for another loan if the need arises.

 

What Are Trucking Factoring Companies?

 

Trucking Factoring companies do not offer loans, and you do not go into debt when you get money from a Trucking Factoring company. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. 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 great benefit of using the services of a Trucking Factoring company instead of a bank loan is that there is no collateral required for the Trucking Factoring company, because the Trucking Factoring company is buying your accounts receivables. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This makes it easier for fledgling businesses to get the financing they need through a Trucking Factoring company (as long as their accounts receivables are in good order) then from a bank, who may not feel that you have been in business long enough to be worth the risk of issuing you a loan.

 

3. 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. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.You receive interest up-front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So 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 good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

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

 

"

 

 

 

 

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