However, this is not the only advantage. There are a significant number
of factors why trucking businesses need to think about invoice factoring.
1. Using trucking factoring companies is a very fast way for a business to raise cash:
A truck factoring offer can be performed in just a few days. A company can have
cash in a really brief amount of time. This can be very useful for a trucking company that
is desperate for cash or that is planning to rapidly expand their operations.
It can take a significant amount of time to get a bank loan and then hearing back from
them on whether or not they are want to provide you with the cash you need.
A company may not have that amount of time. The source of income of their business
could depend upon getting cash quickly.
2. Using a trucking factoring company reduces the collections procedure: Companies sometimes have to
wait weeks and even months before they are paid for services rendered. During this time,
they could be cash poor and may not have the funds available to grow their companies or even
meet their present business expenditures.
3. Using a factoring company enables business to generate money without handling
brand-new financial obligations: Financial obligations can be an efficient device to develop
and sustain a company. However, it can be risky, specifically for brand-new trucking companies.
Using a factoring company enables companies to receive badly required capital without relying on an expensive loan.
4. Factoring can be a great choice for businesses having difficulties getting a bank loan:
Getting a business loan has actually always been challenging. Today, it is even tougher
because banks are holding on tighter than ever to their money.
If a freight company has actually not been around very long or has had troubles repaying loans in the past,
the chance they will be able to get a bank loan is rather unlikely. In this case, an excellent
alternative would be for a freight business to utilize freight factoring services.
5. Using freight factoring companies can help companies that have no collection division or an understaffed one:
For small freight companies that don't have a collection department or appropriate workers, freight broker factoring companies can
offer a much needed service. Freight factoring can provide them with what they need for money to survive
and/or expand by advancing cash for their invoices and afterwards collecting them.
The seller will undoubtedly have to spend for these services, however it is well worth it for many freight and trucking companies.
Unlike the other factoring companies, MotorFreightTrucking.org's objective here
All Sorts of Trucking Companies Use our Services:
Heavy HaulingTrucking -Grain
Sand & Gravel
Local With Storage
Oilfield Trucking Services
Using trucking factoring companies is an extremely quick means for companies to raise cash:
A truck factoring offer can be provided in only a just a few days. A business can have cash in a really brief amount of time. This can be very advantageous for a trucking business that is desperate for cash or that is aiming to quickly broaden their operations.Please call our
MotorFreightTrucking.org other locations
Trucking Factoring Companies offer their factoring services nationwide 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.
Anyone who owns a Trucking business knows that there are times when the money goes out of your business much faster than it is coming in. This can put a company in a financial bind, making it difficult to purchase raw materials, pay their employees, or even keep the utilities on. The simple truth is that every company needs to have ready cash in order to keep their business running on an even keel and in order for it to grow. There are a number of different ways that a company can get the money they need to keep their business running and moving forward, but not all of these ways offer businesses the same freedom and benefits. This article will talk about two popular, but different types of financing available to business. The Traditional bank loan, and getting your financing through a factoring company. Continue
Transportation industry plays a vital role in the economic scene. As people’s lives become more and more sophisticated as time goes by, making the most out of the limited resources is the concern of all. Say for example the proper use of land to get optimum profit and convenience or what is known as the zoning. It is defined as the process of planning for land use to allocate certain kinds of structures in certain areas. This method separates the manufacturing sites from the sources of its raw materials, the employees and employers to their respective offices. This made the transportation industry play a vital role in the economic scene. It is a primary necessity for businesses of any size and of any type. It does not just transport raw materials to the manufacturers but also bring finished products into our every door. Read More
Around the country, many owners of small trucking companies are running into the same problems when trying to expand their business. While the trucking business can be quite lucrative, it can take many weeks or even months to finally get paid on hauling invoices. This puts trucking companies in a real bind by having to play catch-up while trying to pay bills and salaries of their drivers.
We caught up with Jason Kind, an owner of a small trucking business that he created just a few years ago. Like many trucking owners, Jason was trying to expand his company to meet the needs of his clients, but was running into money issues that were holding him back. 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. Keep Reading....
John Thompson let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Thompson Trucking Company was at a turning point of growth and John had to decide if signing with a factoring company was the right way forward. Continue Reading..
How A Frac Sand Hauler Was Saved By Oilfield Services Factoring
Oilfield Services Factoring Services
Running a company in the oilfield services industry is no easy business, especially with payrolls to meet, equipment to purchase and deadlines that must be met. The sheer complexity of combining the geological research and modeling, imaging and exploration and finally the drilling to see whether oil is really present can take a lot of investment before any payoff can be seen.
For those who own a Frac Sand Hauler for example, the efforts that must be put in to start such as business can be considerable. But arguably the biggest challenge is paying the expenses as the invoices come in. A Frac Sand Hauler often has expenses that must be met immediately, but their invoices can take up to 60 days before they see the money.
What follows is an interview with Ray McClerand, a man who owns a Frac Sand Hauler business and ran into the same difficulties that many new companies of his type face. How Ray overcome some of the challenges in paying his bills through oil service factoring are explained in the interview. Read more on the Oilfield Services Factoring interview