Truck Factoring.Why Aren't You Exploring This Option?

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Warning!
Do Not Sign A Long-Term Contract

Six To Twelve Months in the trucking world can be very volatile.

The danger with a
long-term contract is that you pay a "stiff fee" to keep or
escape it.

You will still have to
pay the full rate and fees if you experience
a decrease in the number of trucks that you are running.

Our terms flucuate with your business cycles.

More Truck Factoring Information
General Freight Trucking, Local

This industry comprises establishments primarily engaged in providing local general freight trucking. General freight establishments handle a wide variety of commodities, generally palletized and transported in a container or van trailer. Local general freight trucking establishments usually provide trucking within a metropolitan area which may cross state lines. Generally the trips are same-day return

This industry comprises establishments primarily engaged in providing long-distance specialized trucking. These establishments provide trucking between metropolitan areas that may cross North American country borders.
In recent years, truck businesses have discovered that truck factoring can combat the ups and owns of unpredictable cash-flow cycles and provide a viable source of working capital when conventional financing is not always an option.

Truck Factoring is the practice of purchasing unpaid invoices from a company for a small, face-value discount. Factors-these buyer-give instant cash for what they expect to receive later, and the sellers can increase their cash flow without the usual 15-,30- or 60-day wait for payment.

For years, the bulk of factoring was predominately in the textile, furniture and apparel industries. Today, invoice-purchasing firms are working with all kinds of industries, including manufacturers, service providers, transportation companies and high-tech firms.

The increase is mainly attributed to the credit crunch that began in the late 1980s. as the availability of bank commercial credit tightens, more businesses look toward alternative sources of financing to achieve growth. Factors can help those firms that banks often find difficult to approve, such as start-up companies whose growth outstrips cash. The primary focus in a factoring relationship is the credit-worthiness of the customers being invoiced and the client’s ability to produce a quality product or service.

There are many situations where truck factoring can help business meet its cash flow needs. By providing a continuing source of operating capital without incurring debt, factoring can provide growth opportunities that can dramatically increase the bottom line. Virtually any business can benefit from truck factoring as part of its overall operating philosophy

Cash flow is one of the main reasons businesses fail. At one time or another, every business, even successful ones, have experienced poor cash flow. Cash flow does not have to be a problem any more. A solution is available.

The solution is called truck factoring., factoring is the process of selling accounts receivable to an investor rather than waiting to collect the money from the customer the concept has been around for thousands of years. He describes factors as investors who pay cash for the right to receive the future payments on your invoices.

"A receivable or an invoice which has not been paid yet has value. It is a debt your customer has agreed to pay in the near future."

Trucking Factoring can offer many benefits to cash hungry companies. Instead of having to wait 30,60,90 days or longer for payment on a product or service that has already been delivered, a business can factor (sell) its receivables for cash at a small discount off the fact amount of the invoice. Payroll, marketing efforts, and working capital are just a few of the business needs that can bemet with this instant cash.

"There have been cases where I have seen factoring provide the means for a manufacturer to replenish inventory and make more products to sell without having to wait for earlier sales to be paid,". "Factoring isn't just a cash management tool for manufacturers. Almost anytype of business can benefit from factoring."

Factoring trucking is especially appealing to young and rapidly growing companies. Since the process shortens their business cycle, these businesses can grow faster. The ability to make more products to sell while waiting for invoices to be paid is largely eliminated. Such businesses usually net much more profit with factoring than without, even when the discount is considered.

2007 NAICS Definition

484230 Specialized Freight (except Used Goods) Trucking, Long-Distance ^US

This industry comprises establishments primarily engaged in providing long-distance specialized trucking. These establishments provide trucking between metropolitan areas that may cross North American country borders.

Cross-References. Establishments primarily engaged in--

• Providing local specialized freight trucking (except used goods)--are classified in Industry 484220, Specialized Freight (except Used Goods) Trucking, Local;

• Providing long-distance general freight trucking including all North American international travel--are classified in Industry 48412, General Freight Trucking, Long-Distance;

• Providing trucking of used household and office goods--are classified in Industry 484210, Used Household and Office Goods Moving; and

• Collecting and/or hauling hazardous waste, nonhazardous waste, and/or recyclable materials within a local area--are classified in Industry 56211, Waste Collection.

Agricultural products trucking, local		Specialized Freight (except Used Goods) Trucking, Local
Automobile carrier trucking, local		Specialized Freight (except Used Goods) Trucking, Local
Automobile carrier trucking, long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
Bulk liquids trucking, local		Specialized Freight (except Used Goods) Trucking, Local
Bulk liquids trucking, long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
Container trucking services, local		General Freight Trucking, Local
Container trucking services, long-distance (TL)		General Freight Trucking, Long-Distance, Truckload
Dry bulk trucking (except garbage collection, garbage hauling), local		Specialized Freight (except Used Goods) Trucking, Local
Dump trucking (e.g., gravel, sand, top soil)		Specialized Freight (except Used Goods) Trucking, Local
Dump trucking of rubble or brush with collection or disposal		Other Waste Collection
Farm products trucking, long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
Flatbed trucking, local		Specialized Freight (except Used Goods) Trucking, Local
Flatbed trucking, long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
Forest products trucking, long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
General freight trucking, local		General Freight Trucking, Local
General freight trucking, long-distance, less-than-truckload (LTL)		General Freight Trucking, Long-Distance, Less Than Truckload
General freight trucking, long-distance, truckload (TL)		General Freight Trucking, Long-Distance, Truckload
Livestock trucking, local		Specialized Freight (except Used Goods) Trucking, Local
Livestock trucking, long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
LTL (less-than-truckload) long-distance freight trucking		General Freight Trucking, Long-Distance, Less Than Truckload
Refrigerated products trucking, local		Specialized Freight (except Used Goods) Trucking, Local
Refrigerated products trucking, long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
Tanker trucking (e.g., chemical, juice, milk, petroleum), local		Specialized Freight (except Used Goods) Trucking, Local
Tanker trucking (e.g., chemical, juice, milk, petroleum), long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance
Transfer (trucking) services, general freight, local		General Freight Trucking, Local
Trucking terminals, independently operated		Other Support Activities for Road Transportation
Trucking used household, office, or institutional furniture and equipment		Used Household and Office Goods Moving
Trucking, general freight, local		General Freight Trucking, Local
Trucking, general freight, long-distance, less-than-truckload (LTL)		General Freight Trucking, Long-Distance, Less Than Truckload
Trucking, general freight, long-distance, truckload (TL)		General Freight Trucking, Long-Distance, Truckload
Trucking, specialized freight (except used goods), local		Specialized Freight (except Used Goods) Trucking, Local
Trucking, specialized freight (except used goods), long-distance		Specialized Freight (except Used Goods) Trucking, Long-Distance