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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

 

You may likely have heard of factoring but your company may well not know exactly what it is or more significantly exactly what it might do for your business. Receivable Loan Funding likewise referred to as receivables funding is a kind of asset based financing that can boost a company's immediate cash flow needs. This is not a loan; no debt obligation is assumed by Factoring ,and the financing is unrestricted. Business Financing Companies in Loans Payable Factoring Companies MD at Staffingresource.org- affording accounts recievable factoring facilities factoring-companies-md

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In the United states of America, where trucking firms prosper, factoring firms are not considered accepting loan of in any capacity. This confidential deal then allows both groups to benefit and delight in a good future-- it gives the factoring provider a guaranteed resource of income to add to the list and it furnishes the trucking firm the needed money that they sweated to acquire.

 

 

Workingcapitalfactoring.Org

Factoring Transportation Companies

As most of us determine, trucking is an unbelievably large industry with countless firms out there working with hundreds of drivers. Sadly, numerous of these drivers land up in cash predicaments simply because they are still waiting for work from six weeks back to actually pay them. When this is the situation for a truck business, depending on factoring agencies for aid maybe the best alternative left.

 

 



Medebanker.Net

 

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

 

Factoring For Trucking

In the United states of America, where trucking firms prosper, factoring firms are not considered accepting loan of in any capacity. This confidential deal then allows both groups to benefit and delight in a good future-- it gives the factoring provider a guaranteed resource of income to add to the list and it furnishes the trucking firm the needed money that they sweated to acquire.

 

 



Medebanker.Net

 

 

 

Best Invoice Factoring Company

 

Best Invoice Factoring Company

 

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

Cash flow does not have to be an issue any ever more. Do not be fooled -- banks are not the only places you can get funding. Other solutions are offered and you do not have to borrow money. What is truck factoring ? One option is called truck factoring. Trucking Factoring is the procedure of selling invoices to a financier rather than waiting to gather the cash from the client. Oh, the Irony- Trucking factoring has an ironic distinction: It is the monetary foundation of many of America's most successful businesses. Why is this ironic ? Because accounts receivable factoring is not instructed in business colleges, is seldom discussed in company plans and is fairly unknown to bulk of most of American company people.

Yet it is a monetary procedure that releases up billions of dollars every year, allowing countless businesses to grow and succeed. Accounts Receivable Factoring has actually been around for thousands of years. Receivable Loan Financing Businesses are financiers 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 customer has to pay in the near future. Factoring Principals--Although factoring deals solely 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. Utilizing the purest meaning of the word, these big consumer finance business are really simply big Trucking Factoring Companies of customer paper. Consider it: You purchase at Sears and charge it to your MasterCard. The store makes money practically instantly, although you do not make payment until you are ready.

For this service, the credit card business charges Sears a fee (typical common normal fees range from two to four percent of the sale). The Advantages Truck Factoring can offer many benefits to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has 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, marketing efforts, and working capital are simply a few of the business requirements that can be satisfied with instant  money.

Commercial Factoring provides the means for a manufacturer to replenish stock and make even more items to sell: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not just a cash management device for manufacturers: Almost any type company can benefit from Invoice Factoring. Generally, a business that extends credit will have 10 to 20 percent of its yearly sales bound in accounts receivable at any given time. Think for a moment about exactly how much is bound in 60 days' worth of invoices: You can not pay the power expense or today s payroll with a customer s invoice, however you can offer that invoice for the cash to satisfy those obligations. Using trucking factoring companies is a fast and simple procedure. The factoring company purchases the invoice at a price cut, usually a couple of portion points less than the stated value of the invoice.

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The American Trucking Association
specifies that there around
205,000 workers with freight trucking
firms and
300,000 personal companies trucking
companies certified to
operate in America that transferred,
according to their latest data of millions
items, supplies and
basic products .
There are several typical
providers either going solo or in
groups on our country
roadways transferring these
vital products to our
shops, manufacturing facilities and shipping ports.

And  freight factoring
corporations support
many of them and offer their
receivable loan facilities
nationally including
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

Factoring Companies MD

 

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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

 

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

 

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

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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.

 

Click below to find Trucking Companies in the United States:

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

 

 

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Often Worrying About Cash - No More

 

"

�So, this is not a loan?� asked Sean Moore, reclining back into his chair and crossing his legs. The woman who sat across the desk smiled and shook her head.�Not quite,� she said.Sean was the owner of a small trucking company which had fallen on some hard times recently. Certainly the trucking business can be an extremely profitable venture, and for many years it had been that way for Juan. He named his business Reed Trucking, named after Sidney and Philip, his two grandfathers. They had both been hardworking men, and had done a lot to make Sean the same.Six months ago disaster struck Juan's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was a roll-over and ended up in the trucking graveyard: the other was involved in a serious and costly accident. The financial security of Juan's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Sean 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. In the long run, this wasn�t an issue, but if problems arose, you could find yourself in trouble.Sean was an excellent business man, and he certainly hadn't done anything wrong. Things had happened that he could not have predicted, and he had to figure out a way to keep his business from hurting, or even going under.That�s where the woman across the desk came in. Sean knew she was employed by a Factoring company and that her name was Carmen. Sean 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.She sat there now, and 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.Sean nodded. It sounded perfect - perhaps too good?.The woman laughed. �I'm not sure that you believe me,� she chuckled.�Oh no, I do: it just sounds too good to be true. I thought I was going to lose my company.�Carmen nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. Sometimes you need help. That�s what we�re here for.""In any case, thank you for coming to see me.""No problem - I'm just down the road. We normally do it all online but I was happy to come and visit you today,� said Carmen with a smile. �Let�s see what we can do to help you.�And right there and then they created a business profile. Sean completed the form, with Carmen offering advice as needed.

 

The completed profile gave Carmen and her company all the information they needed on Juan'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 businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. As Sean completed his form, Carmen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.When the form was done Carmen took it and slid it into her briefcase. She then stood, reached across the desk and shook Juan�s hand. He stood before they shook as well, and then smiled. They said their goodbyes and Sean 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 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. But now, after speaking to Carmen and learning all about Factoring, he felt such a huge relief, like someone had just lifted a huge weight off his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.All those long, sleepless nights. The sudden panic attacks, not matter where he was. He could feel it all fading 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.Sean couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. 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 about it for a long time, then decided it was time to sell his restaurant. He took half a year off, and in that time he thought to start Reed Trucking. And that's exactly what he did. For the second time in his short life he created a company from the ground up. He had been successful.Then disaster! The two trucks went down and suddenly his success wasn't looking so guaranteed. He was nearing fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. Sean opened his eyes, sat forward, turned his computer on. 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.

 

"

 

 

 

 

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Trucking Factoring Rates

 

"

Edwards 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, Edwards was a top rated accounts receivable mastermind of the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.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, Edwards 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. And as spring turmed to summer and summer into the early days of fall, Ryan Collins, CEO of Edwards felt a chill go down his spine whenever he would look at the weekly A/R reports. The numbers of clients who owed him back debt were growing.He had already been to the administrators to ask what the actual problem was. 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 Edwards 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. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Edwards hadn't gone elsewhere. They had just gone home.The situation looked dire to Ryan Collins. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. At night he would speak to his wife Joyce and shake his head in frustration.

 

""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would ask.Ryan would stare off into the distance, and then slowly close his 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 on earth was happening to create the death of his business?""I know what it is,"" said Ryan. ""For way too long I've been relying solely on profits received from invoices. 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.

 

""Joyce was trying so hard to support her husband in these worrying times, while Ryan was weighed down with the worry of how he was going to handle this situation he found himself in.The following day Ryan walked into his office with a spring in his step, determined to call each and every client who owed money to Edwards Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Ryan 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. But, he felt like he was doing something proactive to help his business, even though he had staff on salary to do just that thing. A waste of time - a waste of money - he had the best intentions, but all the while Ryan was realising just how much trouble he was in.Poor Ryan 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.

 

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

 

""Sure thing Cheryl, come on in."" Ryan leaned back in his chair and looked expectantly at Cherylerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Ryan."" 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 of factoring?"" she asked.""It does sound vaguely familiar. What is it?"" he said.""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?"" Ryan 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. That profile will also include investigating our accounts receivable aging reports, our existing customer credit limits and so on. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""Ryan replied cautiously ""I see - and what happens then?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

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.�Ryan leaned forward and reviewed the paperwork closely.""I do not know, Cheryl - it just sounds too good to be true"", Ryan said quietly.""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 Ryan,"" she underlined a paragraph on the paper before him.""How flexible?"" asked Ryan.""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. 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. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Ryan said.Ryan took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Exactly�. I think this might just be a way out of the trouble we are in with these folks who owe us money.""Ryan thought about this and agreed with Cherylerley. The clients who owed them money were long standing friends and professional resources of Edwards. Ryan wasn't prepared to lose these relationships just because they were having financial issues at the moment. Ryan knew that the economy had taken a hit and he knew that it would probably be a long time before things started to look up again. That unknown amount of time, if he handled these debtors incorrectly, could spell disaster for both of them. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Cheryl, and thankyou."" Cheryl nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Ryan stayed at his desk for a long time, looking over the details they hadn't discussed during their meeting. He wondered if there might be other problems freight factoring could help Edwards 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, Edwards could receive up to fifty-percent cash advances upon load pick-ups. 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 Timothy about this,"" Ryan muttered to himself.Timothy is Ryan's son-in-law, and he really admired the ideas behind Edwards, so much so that only two years before he had started his own transportation service business. Ryan knew then what struggles Timothy would face but he encouraged him nonetheless. With the faltering economy, if a big fish like Edwards was hurting, a little guy like Timothy was about to catch his death. But, maybe the answer for both of them was in freight factoring, and Ryan was going to find out very soon.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Ryan 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. Ryan recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

 

 

 

 

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Trucking Factoring

 

The key reasons why Trucking Agencies Work with Factoring Companies.

 

As the operator of your own establishment, you may be much more than aware already of the hardship in making sure that capital matters do not become a problem down the line. Anyway, the most disappointing thing that can in all probability transpire for your company is to find yourself swept up in a long and complicated circumstance that leaves you forever trying to find the cash you necessitate on an continuous basis.

 

For any kind of business in this condition, the complication can come for waiting for work to clear up and actually be paid out into your account. Bill of sales, checks, and the like could take some time to actually to beprocessed which can leave you with short-term available resources difficulties. Fortunately, there are solutions out there for businesses to investigate-- and one of these is factoring agencies.

 

Factoring agencies will, in substitution for your invoices, provide you with the finances right now to make sure that you do not have to fret about the waiting phase which could make paying out the bills and obtaining materialsmore challenging. With this style of arrangement, invoice factoring can become extraordinarily helpful for lots of firms who have to avoid a money pitfall which they have found themselves in.

 

For the reason that, depending upon the size of the work, it can take up to 60 days for some firms to get paid then it is essential to blanket your own back and certainly not leave yourself resources short to pay the costs. After all, how many businesses have two months cash flow just lying there to pay for all their expenditures till they get paid?

 

This is most especially true of trucking agencies. They have the tendency to handle bunches of accounts which means a huge amount of collection period entails business owner themselves. Attempting to get paid off promptly can develop into an amazing inconvenience and this is exactly why you utilize truck factoring firms who are pleased to help out truckers exclusively.

 

As most of us know, trucking is an remarkably large industry with numerous organizations out there handling hundreds of vehicle drivers. Unfortunately, plenty of these drivers land up in money problems considering that they are still anticipating work from six weeks ago to actually pay them. When this is the scenario for a truck agency, consulting factoring companies for help might be the most effective choice left.

 

This signifies that a trucking business can compensate the wages of the people, keep all the vehicles loaded with gas and continue to go up, thrive and expand without always waiting for the money which is taking too prolonged to come in. Trucking Establishments running without a factoring system implemented are leaving themselves at significant risk, as competitors cash out fast and go on to grow.

 

There's absolutely very little to be troubled about when it comes to employing a Factoring firm-- they commonly are not like a bank or a person who is going to leave you with a huge mound of liability to repay. You give them genuine invoices from output you have already accomplished , you are only quickening the payment process.

 

In the United states of America, where truck companies prosper, factoring firms are not considered taking on loan in any capacity. This private settlement then allows both parties to make money and experience a good future-- it gives the factoring agency a warranted resource of profit to include in the list and it provides the trucking business the required funds that they sweated to obtain.

 

The trucking firm provides their invoices to the factoring firm. The trucking factoring company then receive the payment amounts from the trucking company's clients. Factoring has been in existence for hundreds of years and has been employed for many years by several varying markets-- but none more so than truckers. While you might miss out on a small part of the money, something like 1-3 % depending upon who you collaborate with, it indicates that you are receiving the resources today and can actually begin setting the cash to work.

 

After all, an IOU or an invoice is absolutely not going to finance spendings, is it? For trucking enterprises when the resources can be good one day and gone the next, it is up to the vehicle drivers to work smartly and to make sure that they are leaving themselves with a substantial quantity of time and finance to get through the week until they are compensated once more.

 

So the next instance your trucking enterprise is enduring some momentary cash flow challenges and you are spending an excessive amount of time chasing sluggish paying customers, why not start off thinking of making use of a factoring companies as a method to get your finances and give yourself a more pleasant future in the eyes of your trucking crew and your bank dividend?

 

 

 

 

 

 

 

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Freight Bill Factoring

 

Factoring in the Future of a Trucking Business: A Story The phone was ringing on his desk, and Leonard Woods just sat there letting it ring. His morning coffee cooled and his cigarette smoked away in the tray: Leonard is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Woods Trucking Company was at a turning point of growth and Leonard had to decide if signing with a factoring company was the right way forward.

 

More than forty years ago Leonard's father had started this business working as an owner-operator and eventually growing Woods Trucking Company into a fifteen trailer fleet. There had been some hard times when it seemed everything was going to go under and even Leonard�s mother strapped herself into a cab to make hauls. His father had worked long enough to see the price of hires drop dramatically during the recession and to see the explosion of fuel prices afterwards. Now the company was solely in Leonard�s hands and he wanted to live to see it in better shape for his sons.

 

To move Woods Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. 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 Woods 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'. Leonard chuckled, thinking about his father. 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). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

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

 

But was factoring the answer? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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 this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. In those 30 days, a trucking company can�t pay its bills and employees in invoices.

 

Now it was time for Leonard to do his homework. 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. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. Well, what was the point of going to a factoring company if there was shady business like that going on?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. 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 was good money.

 

For Leonard it was quite a relief to be dealing with the factoring company. They were extremely helpful and more personable than the bank staff. 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 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 Leonard because he and his father had created a very strong and loyal list of clientele over the years. 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 Woods 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.

 

Leonard stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. With the capabilities of this new cash flow, Leonard could actually expand Woods 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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Freight Factoring Companies

 

Date Published- 2014- 11-25 Transportation Factoring Trucking

 

"

Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. You will not Incur 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. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it 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. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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.

 

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Traditional Bank Loans

 

Finance through a bank loan is the normal, or traditional, way of financing your business. While these loans are handy they are not available to every business. As an example, a newly formed business may not have the required assets to qualify for a bank loan, and even if they did, it is usual practise for a bank to use the business itself as collateral. This means that if you default on your loan payment you could lose your entire business. Plus, the amount you apply for through the bank is the actual amount that you are going to receive. 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 finance you can receive will be based on the amount you have earned and the accounts receivable you are prepared to sell. Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.

 

Benefits of a Trucking Factoring Company Vs. A Bank Loan

 

While not every business can take advantage of Trucking Factoring account financing (you have to have a business that has account receivables) for those that can use this type of financing there are several distinct benefits.

 

1. You will not Incur 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. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. 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. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it 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. Once the Trucking Factoring company assures itself that the customers in your accounts receivable are likely to pay their debt, the money is usually in the account within 24 hours. Borrowing from a bank begins with vast amounts of paperwork, the loan must be underwritten, and this can take ages before you're notified if the loan has been approved.

 

4.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 you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see, there are several benefits that makes considering financing through a Trucking Factoring company over a traditional bank worthwhile. In addition, there are other benefits that a Trucking Factoring company can offer you, outside the scope of a bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. Since these accounts belong to the Trucking Factoring company, this is now their job. Trucking Factoring companies are very efficient at debt collecting, and this frees up your valuable time to devote to running your company.

 

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.

 

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