Trucking Factoring is beneficial for a number of factors. It permits a truck firm to raise cash without obtaining new debt. While financial obligation is sometimes required, many truck companies would choose to raise cash without borrowing money. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is big enough, it might even force a freight brokerage out of business.
What Your Banker Doesn't Want You to Know - Select A Trucking�Factoring Company Instead Of A Typical Bank Financing
Exactly how to Increase Cash Flow Without Borrowing -Cash Money flow is one of the primary reasons companies fail.
At one time or another, every company, even successful ones, have experienced poor money flow.
Money flow does not have to be a problem any more. Do not be fooled -- banks are not the only places you can get financing. Other options are offered and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Truck Factoring is the process of selling invoices to an investor instead of waiting to collect the cash from the
client. Oh, the Irony- Truck factoring has an ironic distinction:
It is the monetary
foundation of many of America's most effective businesses. Why is this paradoxical ? Because receivable financing is not instructed in business colleges, is rarely mentioned in business strategies and is fairly unidentified to bulk of most of American business people.
Yet it is a monetary process that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Factoring has been around for countless years. Invoice Factoring Companies are investors who pay money 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 deals, a large percentage of the retail business uses a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail transactions. Using the purest meaning of the word, these large customer finance companies are truly simply big Receivable Loan Funding Businesses of consumer paper. Consider it: You make a purchase at Sears and charge
it to your MasterCard. The store makes money practically instantly, even though you do not make payment until you are ready.
For this service, the charge card company charges XYZ Store a fee (typical common normal fees vary from two to 4 percent of the sale). The Advantages Invoice Factoring can provide numerous advantages to cash-hungry companies. Instead of waiting 30, 60, 90 days or longer for payment on an item that has actually already been provided, a company can factor
(sell) its receivables for cash at a little price cut
off the dollar value of
the invoice. Payroll, advertising efforts, and working capital are just a few of the business requirements that can be met with instant cash.
Receivable Financing provides the ways for a producer to renew inventory and make even more products to sell: There is no longer a requirement to await for earlier sales to be paid. FACTORING is not simply a money management tool for producers: Almost any type company can benefit from Receivable Loan Funding. Generally, 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 exactly how much is tied up in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a client s invoice, but you can offer that invoice for the money to satisfy those responsibilities. Using trucking factoring companies is a fast and simple process. The factoring company buys the invoice at a price cut, usually a couple of portion
points less than the face value of the invoice.
Sioux Falls (/?su? 'f??lz/) (Lakota: �?ya? Ok�bleca Ot?�?wahe; ""Stone Shatter City"") is the largest city in the U.S. state of South Dakota. It is the county seat of Minnehaha County, and also extends into Lincoln County to the south. It is the 47th fastest growing city in the United States and the fastest growing metro area in South Dakota, with a total increase of 22% since 2000.As of 2013, Sioux Falls had an estimated population of 164,676. The metropolitan population of 243,513 accounts for 29% of South Dakota's population. It is also the primary city of the Sioux Falls-Sioux City Designated Market Area (DMA), a larger media market region that covers parts of four states and has a population of 1,043,450. Chartered in 1856 on the banks of the Big Sioux River, the city is situated on the prairie of the Great Plains at the junction of Interstate 90 and Interstate 29.Partially due to the lack of a state corporate income tax, Sioux Falls is the home of a number of financial companies. The largest employers among these, and fourth and fifth largest employers overall, are go andgroup. Other important financial service companies located in Sioux Falls include Bank, Bank.
Rapid City (Lakota: Mni L�zaha? Ot?�?wahe; ""Swift Water City"") is the second-largest city in the State of South Dakota after Sioux Falls and the county seat of Pennington County. Named after Rapid Creek on which the city is established, it is set against the eastern slope of the Black Hills mountain range. The population was 67,956 as of the 2010 Census. Rapid City is known as the ""Gateway to the Black Hills"" and the ""City of Presidents"". The city is split by a low mountain ridge that divides the western and eastern parts of the city. Ellsworth Air Force Base is located on the outskirts of the city. Camp Rapid, a part of the United States Army National Guard, is located in the western part of the city. The historic ""Old West"" town of Deadwood is nearby. In the neighboring Black Hills are the popular tourist attractions of Mount Rushmore, the Crazy Horse Memorial, Custer State Park, and Wind Cave National Park.
Aberdeen (Lakota: Abl�la) is a city in and the county seat of Brown County, South Dakota, United States, about 125 miles (201 km) northeast of Pierre. The city population was 26,091 at the 2010 census, making it the third largest city in the state. Aberdeen is the principal city of the Aberdeen Micropolitan Statistical Area, which includes all of Brown and Edmunds counties and has a population of 40,602 in 2010. Aberdeen is the home of Northern State University.Super 8 Motels was founded in 1972 by Dennis Brown and Ron Rivett as a motel referral system, which was replaced with a franchise operation in 1973. The first Super 8, with 60 rooms, was opened in 1974 in Aberdeen and still operates today as the Super 8 Aberdeen East.
Brookings is a city in Brookings County, South Dakota, United States. Brookings is the fourth largest city in South Dakota, with a population of 22,056 at the 2010 census. It is the county seat of Brookings County, and home to South Dakota State University, the largest institution of higher education in the state. Also found in Brookings are the South Dakota State Art Museum, the Children's Museum of South Dakota, the annual Brookings Summer Arts Festival, and the headquarters of a number of manufacturing companies and agricultural operations. The mayor is Tim Reed.
Watertown is a city in and the county seat of Codington County, South Dakota, United States. The population was 21,482 at the 2010 census. It is the fifth largest city in South Dakota. It is also the principal city of the Watertown Micropolitan Statistical Area, which includes all of Codington and Hamlin counties.Watertown is home to the Redlin Art Center which houses many of the original art works produced by Terry Redlin, one of America's most popular wildlife artists. Watertown also is home to the Bramble Park Zoo and the Watertown Regional Library. The Watertown Public Opinion is a six-day daily newspaper published in Watertown.Watertown's residential real estate is considered the most expensive in South Dakota for cities of its size; the median price for a home in Watertown is around $200,000.Watertown is often regarded as one of, if not the, most affluent address in South Dakota by locals.
Mitchell is a city in and the county seat of Davison County, South Dakota, United States. The population was 15,254 at the 2010 census. Mitchell was incorporated in 1883. It was named for Milwaukee banker Alexander Mitchell, President of the Chicago, Milwaukee, and St. Paul Railroad (Milwaukee Road).Mitchell is the principal city of the Mitchell Micropolitan Statistical Area, which includes all of Davison and Hanson counties.
Yankton is a city in, and the county seat of, Yankton County, South Dakota, United States. The population was 14,454 at the 2010 census. Yankton is the principal city of the Yankton Micropolitan Statistical Area, which includes the entirety of Yankton County, and which had an estimated population of 22,696 as of 2013.Yankton was the first capital of Dakota Territory. It is named for the Yankton tribe of Nakota (Sioux) Native Americans; Yankton is derived from the Nakota word I-hank-ton-wan (""the end village""). Yankton is located on the Missouri River just downstream of the Gavins Point Dam and Lewis and Clark Lake and just tream of the couence with the James River. The United State National Park Service's headquarters for the Missouri National Recreational River are located in the city. The Human Services Center was established as a psychiatric hospital in 1882 and is on the National Register of Historic Places. Yankton is commonly referred to as the ""River City"", due to its proximity to the Missouri River and the importance that the river played in the city's settlement and development. Yankton has also earned the nickname, ""Mother City of the Dakotas"", due to the early important role it played in the creation and development of the Dakota Territory, which later became the 39th and 40th U.S. states of North and South Dakota, respectively.
Pierre (/'p??r/ PEER) (Lakota: ch�?ka�ke; ""fort"") is the capital of the state of South Dakota and the county seat of Hughes County. The population was 13,646 at the 2010 census, making it the second least populous state capital after Montpelier, Vermont. Founded in 1880 on the Missouri River opposite Fort Pierre, Pierre has been the capital since South Dakota gained statehood on November 2, 1889, having been chosen for its location in the geographic center of the state. Fort Pierre itself was named after Pierre Chouteau, Jr., an American fur trader of French origin.Pierre is the principal city of the Pierre Micropolitan Statistical Area, which includes all of Hughes and Stanley counties.
Huron is a city in Beadle County, South Dakota, United States. The population was 12,592 at the 2010 census. It is the county seat of Beadle County. Huron was the home of now-defunct Huron University (known in its later years as Si Tanka University). Huron is also the home of the South Dakota State Fair. The Huron Plainsman, also referred to as the Plainsman, is the newspaper. The city was named after the Huron Indians. It is currently the ninth largest city in the state of South Dakota, but it used to be the fourth.Huron is home to the South Dakota State Fair, which is held 6 days before Labor DayHuron is home to a statue known as ""The World's Largest Ringnecked Pheasant, "" which was refurbished in the Summer of 2011. Huron hard rail service and is serviced by Rapid City, Pierre and Eastern Railroad
Spearfish (Lakota: hoch�p?e) is a city in Lawrence County, South Dakota, United States. The population was 10,494 at the 2010 census.
Vermillion (Lakota: Was�oyuze; ""The Place Where Vermilion is Obtained"") is a city in and the county seat of Clay County, in the southeastern corner of the State of South Dakota, and the tenth largest city in the state. According to the 2010 Census, the population was 10,571. Vermillion lies atop a bluff near the Missouri River.The area has been home to various Native American tribes for centuries. French fur traders first visited in the late 18th century. Vermillion was founded in 1859 and incorporated in 1873. The name refers to the Lakota name: wa sa wak pa'la (red stream).Home to the University of South Dakota, Vermillion has a mixed academic and rural character: The university is a major academic institution for the state, boasting the state's only law and medical school, and the state's only AACSB accredited business school. Major farm products include corn, soybeans, and alfalfa.Vermillion is located approximately 10 miles (16 km) from the proposed site of a Hyperion oil refinery (formerly known as the Gorilla Project).
Brandon is a city in Minnehaha County, South Dakota, United States and is the largest suburb of Sioux Falls. Brandon is the seat of Brandon Township of Minnehaha County, and is located five miles east of Sioux Falls. The population was estimated at 9,532 by the United States Census Bureau in July 2013, which was up from 8,785 at the 2010 census.
Box Elder (Lakota: cha?���ka; ""box elder maple"") is a city in Meade and Pennington counties in the State of South Dakota. The population was 7,800 at the 2010 census. Ellsworth Air Force Base lies on the north side of the city.
Madison is a city in Lake County, South Dakota, United States. The population was 6,474 at the 2010 census. It is the county seat of Lake County and is home to Dakota State University.
Sturgis is a city in Meade County, South Dakota, United States. The population was 6,627 as of the 2010 census. It is the county seat of Meade County and is named after General Samuel D. Sturgis. Sturgis is famous for being the location of one of the largest annual motorcycle events in the world, which is held annually on the first full week of August. Motorcycle enthusiasts from around the world flock to this usually sleepy town during the Sturgis Motorcycle Rally.
Belle Fourche (/b?l'fu??/; bel-FOOSH) is a city in and the county seat of Butte County, South Dakota, United States. The population was 5,594 at the 2010 census.The city is near the geographic center of the 50 U.S. states, though Lebanon, Kansas is near the geographic center of the 48 contiguous U.S. states.
Harrisburg is a city in Lincoln County, South Dakota, United States and is a suburb of Sioux Falls. The population was 4,089 by the 2010 census, having grown from 958 in 2000 census. The population of the Harrisburg zip code has grown from 2,476 in 2000 to 10,342 in 2010.
Tea is a city in Lincoln County, South Dakota, United States and is a suburb of Sioux Falls. The population was 3,806 at the 2010 census.
Dell Rapids is a city in Minnehaha County, South Dakota, United States. The population was 3,633 at the 2010 census. It is known as ""The little city with the big attractions.""
Mobridge (Lakota: k?ow�kata? ot?�?wahe; lit. ""Over-the-River Town"") is a city in Walworth County, South Dakota, United States. The population was 3,465 according to a 2010 census.
Hot Springs (Lakota: mni k?�ta; ""hot water"") is a city in Fall River County, South Dakota, United States. As of the 2010 census, the city population was 3,711. It is the county seat of Fall River County. In addition, neighboring Shannon County contracts the duties of Auditor, Treasurer and Register of Deeds to the Fall River County authority in Hot Springs.
Milbank is a city in Grant County, South Dakota, along the South Fork of the Whetstone River. The population was 3,353 at the 2010 census. It is the county seat of Grant County. In 1925 The American Department of South Dakota established a new program for high school aged youth that grew into a national program. Milbank is the birthplace of American Baseball played in all fifty states by more than five thousand teams.
Canton is a city in and the county seat of Lincoln County, South Dakota, United States. Canton is located 20 minutes south of Sioux Falls in southeastern South Dakota. Canton is nestled in the rolling hills of the Sioux Valley, providing an abundance of recreational activities with the Big Sioux River bordering the eastern side, Newton Hills State Park to the south, and Lake Alvin to the north. The city was named by Norwegian settler and former legislator James M. Wahl. The population was 3,057 at the 2010 census.As a growing small community, the City of Canton was the proud recipient of the South Dakota Community of the Year Award in 2004 and in 2011. The City of Canton is also home to the Canton Industrial Park, South Dakota's first Certified Ready Site.
Lead (/'li?d/ LEED) is a city in Lawrence County, South Dakota, United States. The population was 3,124 at the 2010 census. Lead is located in western South Dakota, in the Black Hills near the Wyoming state line.
Hartford is a city in Minnehaha County, South Dakota, United States. The population was 2,534 at the 2010 census.
Winner is a city in Tripp County, South Dakota, United States. The population was 2,897 at the 2010 census. It is the county seat of Tripp County. Winner also serves as the administrative center of neighboring Todd County, which does not have its own county seat. The nearest airport is Winner Regional Airport.Winner is very well known[by whom?] for its pheasant season. Pheasant season runs from October to December and brings many individuals from throughout the United States.On May 22, 2010, an EF2 tornado was reported in the Winner area. While the tornado caused minor damage in the city, no fatalities were reported.
North Sioux City is a city in Union County, South Dakota, United States. The population was 2,530 at the 2010 census. It is part of the Sioux City, IA-NE-SD Metropolitan Statistical Area.
Sisseton is a city on the Lake Traverse Indian Reservation in Roberts County, South Dakota, United States. The population was 2,470 at the 2010 census. It is the county seat of Roberts County. Sisseton is home to a number of attractions including the Nicollet Tower and is near the ""Song to the Great Spirit"" building on the campus of Sisseton Wahpeton College. Named for the Sisseton (or Sissetowan) division of the Native American Sioux, the city is located a few miles north of the tribal seat of the Sisseton Wahpeton Oyate at Agency Village, South Dakota.
Chamberlain (Lakota: Mak?�thipi; ""Dirt House"") is a city in Brule County, South Dakota, United States. The population was 2,387 at the 2010 census. It is the county seat of Brule County. Chamberlain is home to the Akta Lakota Museum and Cultural Center, which profiles the lives of nomadic northern Plains Indians. Chamberlain is also the home of the South Dakota Hall of Fame.
Redfield is a city in and the county seat of Spink County, South Dakota, United States. The population was 2,333 at the 2010 census. The city is not to be confused with the surrounding Redfield Township, which encompasses unincorporated areas outside of the city limits.
Flandreau /'fl�ndru?/ FLAN-droo is a city in Moody County, South Dakota, United States. The population was 2,341 at the 2010 census. It is the county seat of Moody County. It was named in honor of Charles Eugene Flandrau, a judge in the territory and state of Minnesota, who is credited with saving the community of New Ulm, Minnesota, from destruction during coict with the Sioux in 1862.
Lennox is a city in Lincoln County, South Dakota, United States. The population was 2,111 at the 2010 census.
Fort Pierre is a city in Stanley County, South Dakota, United States. It is part of the Pierre, South Dakota Micropolitan Statistical Area and the county seat of Stanley County. The population was 2,078 at the 2010 census. Lily Park in Fort Pierre is situated at the couence of the Bad and Missouri rivers.
Beresford is a city in Lincoln and Union counties in the State of South Dakota. The population was 2,005 as of the 2010 census. The southern two-thirds is part of the Sioux City, IA-NE-SD Metropolitan Statistical Area, while the northern one-third is part of the Sioux Falls Metropolitan Statistical Area. The Beresford Republic is the weekly newspaper.
Summerset is a city in Meade County, South Dakota, United States. The population was 1,814 at the 2010 census. Located in the western part of the state, it is the first city to incorporate in the state since 1985.Summerset was incorporated in an election that was held on June 7, 2005. Opponents of the city's dissolution insist a population of more than a thousand, despite the formal pre-incorporation census indicating 597 residents. The city is located west of Interstate 90, between the towns of Blackhawk and Piedmont, South Dakota. The city shares its zip codes of 57718 and 57769 with these two towns.During its first year, Summerset faced a few challenges. There was confusion about the location of the city's boundaries. A lawsuit was filed to dismiss the incorporation election. And, the citizens petitioned to have the town dissolved for a multitude of reasons, including high taxes; the petition failed.This issue went to trial on September 14, 2006 in Meade County. A decision was handed down by the jury in the trial on September 15, 2006 siding with Summerset that there were indeed more than 1000 inhabitants at the time of the vote to incorporate. The plaintiff, Casey Dolney of Summerset, can appeal the decision to the South Dakota Supreme Court.
Custer is a city in Custer County, South Dakota, United States. The population was 2,067 at the 2010 census. It is the county seat of Custer County.In addition to continued mining of precious metals, industrial minerals form the basis of today's local mining industry. Timber harvesting and production, tourism, and government services form the basis for the economy. Custer is the headquarters for the Supervisor of the Black Hills National Forest of South Dakota and Wyoming. It is convenient to major tourist attractions, such as Jewel Cave National Monument, Wind Cave National Park, Custer State Park, and Mount Rushmore National Memorial. The Crazy Horse Memorial is located just north of the city.
Springfield is a city in Bon Homme County, South Dakota, United States. The population was 1,989 at the 2010 census.
Elk Point is a city in Union County, South Dakota, United States. The population was 1,963 as of the 2010 census. It is the county seat of Union County.
Webster is a city in and the county seat of Day County, South Dakota, United States. The population was 1,886 at the 2010 census.
Volga is a city in Brookings County, South Dakota, United States with a population of 1,768 at the 2010 census.
Wagner is a city in Charles Mix County, South Dakota, United States. The population was 1,566 at the 2010 census.
Groton is a city in Brown County, South Dakota, United States. The population was 1,458 at the 2010 census.
Parkston is a city in Hutchinson County, South Dakota, United States. The population was 1,508 at the 2010 census.
Miller is a city in Hand County, South Dakota, United States. The population was 1,489 at the 2010 census. It is the county seat of Hand County.
Salem is a city in and the county seat of McCook County, South Dakota, United States. The population was 1,347 at the 2010 census. The current mayor is Kennth Scott, a long-time resident.
Eagle Butte (Arikara: neetahkaswa�?u?, Lakota: wqbli pahd) is a city in Dewey and Ziebach counties in the U.S. state of South Dakota. The population was 1,318 at the 2010 census.It is the tribal headquarters of the Cheyenne River Sioux Tribe on the Cheyenne River Indian Reservation.
Crooks is a city in Minnehaha County, South Dakota, United States and is a suburb of Sioux Falls. The population was 1,269 at the 2010 census. Crooks was named New Hope until 1904.
Deadwood (Lakota: Ow�yasuta; ""To approve or confirm things"") is a city in South Dakota, United States, and the county seat of Lawrence County. It is named after the dead trees found in its gulch. The population was 1,270 according to the 2010 census. The city includes the Deadwood Historic District, a National Historic Landmark District.
Gregory is a city in Gregory County, South Dakota, United States. The population was 1,295 at the 2010 census.
Freeman is a city in Hutchinson County, South Dakota, United States. The population was 1,306 at the 2010 census.
Britton is a city in and the county seat of Marshall County, South Dakota, United States. The population was 1,241 at the 2010 census.A weekly newspaper, the Britton Journal, is published in Britton.Britton is home to a thriving economy. Several industries reside in the town including a roof and floor truss plant, a prefabricated wall plant, a fan clutch manufacturing facility, and a machine shop manufacturing company.
Clear Lake (Dakota: md�za; ""Clear"") is a city in and the county seat of Deuel County, South Dakota, United States. The population was 1,273 at the 2010 census.
Platte is a city in Charles Mix County, South Dakota, United States. The population was 1,230 at the 2010 census. The community is named after the Platte Creek, a tributary of the Missouri River reservoir Lake Francis Case. Platte is located 15 miles east of the lake.
Lemmon is a city in Perkins County, South Dakota, United States. The population was 1,227 at the 2010 census.
Mission is a city in Todd County, South Dakota, United States, and the Rosebud Indian Reservation. The population was 1,182 at the 2010 census.Mission is home of the Sinte Gleska University. It is the largest incorporated community in the county, but is smaller than the unincorporated community of Rosebud, which is the capital of the Rosebud Sioux Tribe. It is named for one of the many missions established by religious gro in the late 19th century to assist the Sicangu Lakota (Rosebud Sioux) and other Native American people. The major economical center of the county, it is located at the junction of US-83 and US-18 (the Oyate Trail, the home of Todd County School District, Cherry-Todd Rural Electric Cooperative, and various federal/tribal agencies). On episodes of The Price is , the host � who is 1/8 Sioux � noted that Mission was the town in which he spent his childhood while his mother worked as a teacher on the Indian reservation.
Garretson is a city in Minnehaha County, South Dakota, United States. The city had a population estimated at 1,216 in 2013 by the United States Census Bureau.
Gettysburg is a city in Potter County, South Dakota, United States, along the 45th parallel. The population was 1,162 at the 2010 census. It is the county seat of Potter County.
Baltic is a city in Minnehaha County, South Dakota, United States. The population was 1,089 at the 2010 census.
De Smet is a city in and the county seat of Kingsbury County, South Dakota, United States. The population was 1,089 at the 2010 census.
Martin (Lakota: pa��la ot?�?wahe; ""Knoll City"") is a city in Bennett County, South Dakota, United States. The population was 1,071 at the 2010 census. It is the county seat of Bennett County.
Tyndall (pronounced TIN'-duhl) is a city in Bon Homme County, South Dakota, United States. The population was 1,067 at the 2010 census. It is the county seat of Bon Homme County.
Clark is a city in Clark County, South Dakota, United States. The population was 1,139 at the 2010 census. It is the county seat of Clark County.
Parker is a city in Turner County, South Dakota, United States. The population was 1,024 at the 2010 census. It is the county seat of Turner County. It is bordered on its eastern side by South Dakota State Highway 19. Its northern side is bordered by South Dakota State Highway 44. It is about 8 miles northwest of Chancellor, 42 miles east of Parkston, and 41 miles south of Madison.
South Dakota Cities
The U.s. Truck Organization
mentions that there around
200,000 workers with truck
276,000 personal providers trucking
companies licensed to
operate in the United States that transported,
according to their newest searchings for billions of
products, materials and
fundamental products .
There are numerous typical
teams on our country
roadways carrying these
important items to our
shops, manufacturingplants and harbors.
Plus freight bill factoring
several of them and offer their
receivable loan facilities
including the following states.
Alaska, Arizona, Arkansas,
California, Colorado, Connecticut, Delaware,
Florida, Georgia, Hawaii, Idaho State,
Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska,
Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming
Almost one third of the region west of the Missouri River, a semiarid, treeless plain, belongs to Native Americans, most of whom live on reservations such as Cheyenne River, Pine Ridge, Rosebud, and Standing Rock. Much of the remaining area is occupied by large ranches; there cattle and sheep ranching provide the major source of income, with soybean and wheat farming second in the production of revenue. In the more productive region east of the Missouri, livestock and livestock products are the primary sources of income. Corn, soybeans, oats, and wheat are South Dakota's chief cash crops; sunflowers, sorghum, flaxseed, and barley are also grown. Although there is a certain amount of diversified industry, including electronics manufacturing, in Sioux Falls and Rapid City, meatpacking and food processing are by far the major industries of the state.
Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.
List of Trucking Companies for Owner/Operators and Company Drivers
Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen
EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!
Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs
If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.
If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.
The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.
The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.
Andrews 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, Andrews 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. The money was flowing, and times were great.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. Worse still, it was noticed by Andrews in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Herman Meyer, CEO of Andrews felt a chill go down his spine whenever he would look at the weekly A/R 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? When checking his bookkeeper's records this was definitely not 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 Andrews money had jumped ship and decided to leave him holding the bag.
. They could not afford to pay him their debt, but they could afford a lesser service, maybe. So he did the necessary research and, after discussions with friends in the same field, he realised that no, his customers hadn't gone anywhere else. They had just gone home.To Herman Meyer the situation looked desperate. He had employees to pay, goods to ship, trucks to maintain and overhead that was almost unbearable when compared against the lack of funds that were coming in. In the evenings he would discuss his concerns with his wife, Ida, and still find no relief from the worry and frustration.
""I have a bad feeling, Lin,"" he'd sadly say to his wife.""What could you do differently?"" she would say.Herman would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. What could cause this ultimate death spiral of business?""I think I know what it could be,"" Herman said. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" All Ida could do was hold his hand and look at him tenderly. 'We know it is a difficult economy at the moment - perhaps it will take a while for people to get on top of their bills'.""Ida was trying so hard to support her husband in these worrying times, while Herman was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Herman walked into his office with a spring in his step, determined to call each and every client who owed money to Andrews Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Herman 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 Herman was realising just how much trouble he was in.Poor Herman 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.
""Herman, can I have a word?"" she queried, standing in the doorway.
""Of course Glenda, please come in."" Herman relaxed back into his chair and looked up at Glendaerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Herman."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard the word factoring?"" she asked.""It sounds vaguely familiar. What is factoring""? he asked.""Well,"" she began, ""It�s actually quite simple really.
So basically, factoring invoices would enable us to get paid on the nose for loads that we haul.""Immediately?"" Herman interrupted.""Yes, immediately,"" she continued, ""it is actually very simple. 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.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Herman said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. There�s a lot of flexibility depending on the business volume and credit histories. This company tells us what the cost will be to purchase factoring for our accounts receivable. The funding commences once we�ve arrived at an agreement.�Leaning forward, Herman studied the documents very closely.""It sounds too good to be true, Glenda,"" he said.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Herman: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. And they're flexible Herman,"" she underlined a paragraph on the paper before him.""How flexible?"" he asked.""It seems that they personalize their factoring charges so that the amount they're prepared to work with is commensurate with our client's debt and our needs. It only takes 2 to 4 days for this to be figured out. ""It does all sound pretty good, remembering that we are all tapped out now with loans from the bank last year to repair vehicles, and we all know just how tight money is. 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 Herman.Herman took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Herman thought about this and agreed with Glendaerley. The clients who owed them money were long standing friends and professional resources of Andrews. Herman wasn't prepared to lose these relationships just because they were having financial issues at the moment. Herman knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. If he did not handle these debtors in the right way, that unknown amount of time could spell disaster for all of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Glenda, thank you."" Glenda nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Herman keep the shirt on his back, and possibly hers too.Herman sat behind his desk and looked over the details Glenda had not mentioned in their meeting. He wondered if there might be other problems freight factoring could help Andrews Truck & Haul with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. Herman was surprised: it said that his company could get up to fifty percent cash advances on load pickups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""Well, I'll have to tell Chad about this,"" muttered Herman to himself.His son-in-law Chad had liked the idea of Andrews 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. Herman knew then what struggles Chad would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Andrews was struggling then the little guys, like Chad, were going to be in even more trouble. But, maybe the answer for both of them was in freight factoring, and Herman was going to find out very soon.A few months later after going through the entire application process and having the experts review his accounts receivable, credit history and statements, Herman found himself beginning to dig his way out of the hole his delinquent account holders had created for him.They adopted reasonable factoring purchase contracts and stopped wasting their own precious time trying to collect debts. They took that time and refocused effort to offering competitive prices in new territories. Herman looked back on the dismal months of life before freight factoring and almost shuddered at the thought. If Herman hadn't discovered freight factoring at just the right time, his business may not be operating today.
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The Future of a Trucking Company, and Factoring The phone was ringing on his desk, and Ted Welch 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. Welch 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 Ted's father had started this business working as an owner-operator and eventually growing Welch Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Ted�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Ted�s hands and he wanted to live to see it in better shape for his sons.
To move Welch Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. His employees needed to be paid. They had families and household bills too. A few of the refrigerated trailers really needed some maintenance, and in order to stay competitive he really wanted to invest in specialized haulers to meet the increasing requests for loads of agricultural and energy equipment. Every time he had to turn down a request, Welch Trucking looked weak in a very strong market.
He knew what his father would have said - 'wait, take your time before adding new technology'. Ted allowed himself a good hard chuckle. His father had been against placing 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). 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.
Ted believed a successful man is always thinking of his next step. How would he take Welch Trucking to the next level? More importantly, how could he afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.
But was factoring the answer? 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 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.
Ted had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! 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. He knew he would have to be very careful if he was to avoid any of these shady companies?
However, it all turned out to be very simple. All the factoring companies he researched were open about their business practices and very friendly on the phone when he called. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. In fact, he was quite pleased with the idea of a long-term contract because he knew this was a one-off and he would not have to keep going back and forth to different companies. 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 sounded like a great scheme to him.
For Ted 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 Ted 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 would not have any problems, nor would they think poorly of Welch Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.
Feeling happier now, Ted 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, Ted could actually expand Welch 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.
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�So It is not a loan?� Alfredo Brooks 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.Alfredo Brooks 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 Brent. He named his business Wheeler Trucking, named after Erik and Maurice, his two grandfathers. They had both been hardworking men, and had done a lot to make Alfredo the same.Six months ago disaster struck Brent's business when two out of his fleet of fifteen trucks were taken off the road.
One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Brent's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. Waiting a month or longer for bills to be paid was quite normal. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Alfredo was an excellent business man, and he certainly hadn't done anything wrong. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.And that's why he found himself across the desk from this woman. Her name was Jacqueline and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Jacqueline explained. �It�s not a loan, we purchase your accounts receivable. We aren�t giving you money to be paid back later, we�re buying something from you, and you can buy it back when you can. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Alfredo agreed. It sounded good to him, almost too good.Jacqueline laughed. �You look like you don�t believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I actually thought I might end up losing my business.�Jacqueline smiled, agreeing. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� Jacqueline said with a smile. �Let's work out a solution to your problem.�And with that they set about making a profile.
Alfredo filled the form out, with Jacqueline available to help him if he needed it. The completed profile gave Jacqueline and her company all the information they needed on Brent's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Alfredo completed his form, Jacqueline listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Jacqueline took it and slid it into her briefcase. She then stood, reached across the desk and shook Brent�s hand. He stood before they shook as well, and then smiled. Alfredo walked Jacqueline to the door where they said 'Goodbye', then he went back into his office.His employees were there, seven who worked in the office, and as he sat behind his desk once more he heard the familiar clack of fingers on keyboards, the electronic whine of the copy machine.He shut his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Jacqueline though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The sudden panic attacks, not matter where he was. 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.Alfredo couldn�t help but think back to when he had first started the business. At twenty-two and straight out of school he had opened a restaurant. It had been really successful. Offering home cooking in his own hometown, his business had really prospered.But it wasn't what he really wanted to do. His passion didn�t lie with the food industry. He thought about it for a long time, then decided it was time to sell his restaurant. He took six months off, and during that time he decided to create Wheeler Trucking. So he did it. Once again he built a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He didn�t think he had it in him, to save this company. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now, because of factoring, he was sure he wouldn�t have to. Brent's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.
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Why Trucking Companies Use Factoring Firms.
As the owner of your own establishment, you may likely be much more than wary already of the challenge in making certain that cash flow issues do not become a predicament down the line. Anyway, the toughest thing that can possibly happen for your company is to find yourself involved in a long and problematic circumstance that leaves you forever trying to find the funds you necessitate on an on-going basis.
For any sort of company in this situation, the challenge can come for waiting for work to lapse and actually be repaid into your bank account. Statements, checks, and the like can take some time to actually to be taken care of which can certainly leave you with momentary capital difficulties. Thank goodness, there are opportunities out there for businesses to investigate-- and just one of these is factoring agencies.
Factoring companies will, in exchange for your accounts, give you with the funds asap in order that you do not need to stress over the lingering phase that could make paying the expenses and acquiring materialsmore tough. With this sort of system, invoice factoring can come to be exceptionally practical for several enterprises who have to get out of a cash ploy which they have discovered themselves in.
Since, relying on the size of the project, it can take up to 60 days for several business enterprises to get paid then it is critical to cover your own back and certainly not leave yourself resources short to settle the expenses. After all, how many businesses have two months profits just lying there to handle all their spendings till they get paid?
This is most notably correct of truck enterprises. They often tend to manage tons of accounts which means a significant volume of collection period entails company owner themselves. Trying to get compensated in time can become an incredible hassle and this is precisely why you use trucking factoring organizations who are happy to help out truckers mainly.
As we all determine, trucking is an astonishingly enormous industry with a lot of companies out there employing hundreds of operators. However, quite a few of these drivers land up in money problems given that they are still anticipating work from six weeks earlier to actually pay them. When this is the condition for a trucking organization, resorting to factoring agencies for aid could be the most effective option left.
This signifies that a truck organization can compensate the wages of the staff, keep all the cars loaded with fuel and continue to escalate, develop and expand without continually waiting for the finances which is taking too lengthy to come in. Trucking Business enterprises functioning without a factoring program used are leaving themselves at significant hazard, as rivals cash out promptly and continue to develop.
There's honestly not much to be troubled about when it comes to working with a Factoring firm-- they commonly are not like a bank or any individual who is going to leave you with a massive mound of financial debt to pay back. You give them legitimate invoices from job you have already finished , you are only just expediting the repayment process.
In the United States, where truck firms develop, factoring providers are not considered taking on loan in any capacity. This private agreement then allows both parties to profit and take pleasure in a worry-free future-- it provides the factoring business a secured asset of income to add to the list and it supplies the trucking business the needed finances that they sweated to earn.
The trucking company bestows their accounts to the factoring company. The trucking factoring business then receive the payment amounts from the trucking company's customers. Factoring has beenaround for hundreds of years and has been used for several years by a lot of diverse business-- but none exceeding so than truckers. While you may well miss out on a small part of the money, something like 1-3 % depending upon who you work with, it implies that you are obtaining the resources today and can actually start setting the cash to operate.
Anyway, an IOU or an invoice is not actually going to fund overheads, is it? For trucking agencies when the funds can be excellent one day and gone the next, it is up to the vehicle drivers to work smartly and to guarantee they are leaving themselves with a substantial quantity of time and money to get through the week until they are paid for again.
So the next time your trucking business is bearing some temporary capital dilemmas and you are devoting a lot of time chasing inactive paying clients, why not begin thinking about using a factoring companies as a method to get your money and give yourself a more comfortable future in the eyes of your trucking staff 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. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. 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 offer loans, and you do not go into debt when you get money from a Trucking Factoring company. 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 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?
While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.
1. There is no debt. 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. There's 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 means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.
3. You'll receive the money faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.
4.Interest is Paid Up Front. 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.
Another bonus is that, because the Trucking Factoring company has evaluated the quality of your customers' credit before buying the accounts receivable, you learn valuable information regarding your customers, like which ones are likely to pay, and which ones are less likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.