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Our Truck Drivers Factoring Companies offers our clients the
highest possible level of service.
We fund your invoices with our own company money, not investor money.
This allows us to be more flexible with our factoring company programs.
We take away your cash flow headaches; you get your cash
from your invoices now
and we will wait for your customers to pay.
We can also fund start-up companies' receivables.
All industries, including factoring for Health Care Staffing, Tansportation,
Trucking, Manufacturing, Labor
Staffing, and more.
Our Truck Drivers Factoring Companies Program includes the
following features at no additional charge:
• 24 hour funding on approved invoices
•
Highest advance rates in the factoring company industry
•
Credit analysis on new and existing customers
•
Continuous collection management and follow up on factored invoices
•
Invoice and statement mailing (postage included)
•
Account status inquiries anytime; 24/7 online account access.
With our flexible company Security Agreement
our client maintains control:
• Clients select accounts they prefer to factor on
an invoice by invoice basis.
•
Clients control total factoring costs by only
factoring on an "as needed" basis.
Truck Drivers Factoring Companies Advance Rates up to 97%:
Advance rates are based on overall risk associated with a
particular industry as well as experience and company
track record.
We hold reserve accounts to accommodate industries which typically
experience dilution and that we would otherwise not be able to service.
Advance rates range from 80% to 97% of the gross invoice amount.
Truck Drivers Factoring Companies Fee Structures:
Factoring
fees are determined based on your industry, the credit
worthiness of your customers, how quickly your invoices turn, and
monthly factoring volume. To find out how we might structure
a factoring deal for you, please complete our
online truck
factoring
companies request form.
To talk with a member of our sales team,
please contact one of our regional offices
at:
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are
currently providing
Truck Drivers Factoring Companies services nationwide
including the following states: Alabama, Alaska, Arizona,
Arkansas, California, Colorado, Connecticut, Delaware, Florida,
Georgia, Hawaii, Idaho State, Illinois, Indiana, Iowa, Kansas,
Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan,
Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada,
New
Hampshire, New Jersey, New Mexico, New York,
North Carolina, North
Dakota, Ohio, Oklahoma, Oregon,
Pennsylvania, Rhode Island, South
Carolina, South Dakota,
Tennessee, Texas, Utah, Vermont, Virginia,
Washington,
West Virginia, Wisconsin, and Wyoming.
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How Does
a factoring trucking company Work
Trucking
factoring
is the purchase of a company's invoices and has been
around since the Romans. I Factoring for trucking companies are commercial finance companies that specializes in the purchase
of invoices for cash. Fees vary from factoring companies to factoring
companies and from client to client. They are determined by a combination
of your customer base creditworthiness, average payment cycle, invoice
size and factoring volume.
Factoring
trucking receivables provides over 100 billion dollars to industry each year. In
fact, it is an old financial service used by multi-billion dollar corporations
that is now available to smaller sized businesses to which banks are
reluctant to lend funds. Invoice factoring is the best way companies are using
to fill the tremendous
void that banks have created..
The Truck Drivers Factoring Companies
Client profile
You begin by filling out a simple client profile, which we will provide you. Please click here for company
profile. This profile will cover basics such as your company's name and address, the nature of your business, and information about your customers.
You may need to supply the factoring
companies with an accounts receivable aging report, existing customers' credit limits, or other related documents. Remember the invoice
factoring
company will attempt to determine the creditworthiness of your customers independent of their credit history with your company. Factoring
companies want the broader view of their overall credit status.
During this initial stage you will also cover basic financial arrangements with the factoring
company. For instance, what will be the monthly volume of invoices you want to factor(i.e. how liquid do you need to be)? What will the advance rate and the discount rate be? How quickly will the factoring
company issue the advance to you?
In most cases, the answers to these questions will vary depending on the financial strength of your customer(s) and the anticipated monthly sales volume to be factored. Variations between industries, length of time in operation, and general reputation of how risky a customer of yours may be. For instance, a long list of high-risk clients will cost you more in factoring fees than a short list of government agencies with a slow-pay history.
In the trucking factoring business, volume is all important. The higher your volume(the dollar amount of invoices you factor), the more favorable your rates will be.
The factoring trucking company will use the client profile you submit to determine if your company is suitable for invoice factoring. This process is simply the factoring
company analyzing the risks versus the rewards, using the information you provided.
Once approved by the factoring
company, you can expect to negotiate terms and conditions. The negotiation process takes several aspects of the deal into consideration. For instance, if you want to factor $10,000, you can't expect as good a deal as a company that wants to factor $500,000.
During the negotiation process, you will become well aware of what it costs for
factoring your invoices. After you reach an agreement with the factoring
company, the funding wheels begin to roll. The factoring company conducts due diligence by researching your customers' credit and any liens placed against your company. The factoring
company also confirms the legitimacy of your invoice before buying your receivables and advancing cash to you
CLICK
HERE to know more about our One of a Kind factoring invoice
programs
Call Fred Coutts at 206-281-3153 or 1-888-942-6639
Fax # 206-378-1070
Email Fred@FredCoutts.com
Web: Trucking
Factoring
http://www.commercemarketplace.com/home/fcoutts/trucking_factoring.htm
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