The Factoring Loan

• 29Jun

  Pros And Cons Of Using Freight Factoring To Increase Your Business

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  Kris Koonar asked:
  
  
  Every business requires an uninterrupted flow of cash to meet all related expenses and this is especially true in the trucking business. There are drivers’ salaries to be paid, fuel and repair bills to be cleared and you might also need to keep a tidy amount ready for unexpected expenses, in case any of your trucks breakdown en-route to their destination.
  
  Freight factoring can solve all these problems. In this process, a freight factoring company will ‘buy’ off your credit invoice that you have issued to your client and pay you the amount of your invoice minus a ‘factoring fee’, which could range between 1.5% to 5%. These companies can also take over your collection activity by collecting the payment from your clients on the due date and thus this method of finance is flexible and can provide you with an opportunity to flourish in your trucking business. However, there are some pros and cons to be kept in mind, before you rush to tie-up with any freight factoring company.
  
  Pros:
  
  The biggest advantage of entering into a freight factoring arrangement is that you will get your invoice amount immediately, even if you have issued a credit invoice. This will improve your cash flow and help you to meet your expenses, take on larger and longer hauls and even put into action any expansion plan that you might have nurtured. You will also require fewer documents and no collateral, without which you would not have gotten a bank loan anyway, even if you did wish for one.
  
  The freight factoring company could, at an additional cost, also handle your receivables department, thus freeing your mind and staff from the trouble of running after your clients for your money. Since the incoming amount only depends on the value of the invoices that you ’sell’ to the factoring company, you will not need to worry about any monthly installments or interest rates, which would have been the case, if you had taken a traditional loan.
  
  Cons:
  
  It is essential to conduct a thorough survey of the freight factoring industry, before you tie-up with a particular factoring company. The factoring company should be able to handle your account efficiently and should make your payments within the stipulated time for you to enjoy the benefits. Their staff should be available to hear your queries and should also be courteous and polite, while handling your queries. Some of your clients too might not like the idea of answering to a third party in financial matters.
  
  You will therefore need to placate them, if you do not wish to lose them as your clients. If you are already working on wafer-thin profit margins, then by paying the ‘factoring fee’, you will only end up transferring your profit to your factoring company. This might prove to be disastrous for your business in the long run. If the factoring company is retaining a certain amount of the invoice as security against bad debt, then that too could prove to be troublesome, in case of any dispute with the company or your client.
  
  Therefore, even though freight factoring seems to be an answer to all your financial woes, by not paying heed to the above points, you could end up in even more trouble.
  
  Thus, it is important to study the pros and cons of this mode of finance, in order to avoid any pitfalls associated with it.
  
  
  
  For Commercial Finance Loans – Factoring Loans * Equipment Financing * Purchase Order Finance * Commercial Mortgage – IMM Financial has been in the Commercial Finance Business serving companies just like yours for over 14 years. Put our experience to work for you. We are the Cashflow Specialists.

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  Tags: Bank Loan, Salaries, Traditional Loan

• 28Jun

  How to Rent a Moving Truck

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  Jason Kay asked:

  With increasingly high transportation costs, more people are choosing to move themselves when they need to relocate. Moving a home or office requires a lot of planning and one of the most integral components is the moving truck. Getting a good bargain on a moving truck can really help keep costs down. Read the following for some useful advice on how to rent a moving truck.

  The cost of a moving truck can be calculated and estimated on a number of factors which includes the size of the vehicle and the distance you will be driving it. Nationwide companies may charge a little more than your local moving truck rental company, but they offer hundreds or thousands of locations, which makes one way rentals possible. All you need to do is to keep the factors of reliability and safety of your goods in mind. Whether you are planning to do a local move or interstate move – the moving truck must perform when you need it to. After all, the prompt delivery and safety of your goods is what you’re striving for. To rent a good moving truck you can always refer to local directories and even browse online sites that detail moving truck rentals. No matter which company you go with, the steps for renting a moving truck will be as follows.

  Select a moving truck size. With a variety of sizes and rates offered by moving truck companies, you must first decide what size moving truck you need. After all, the primary factor determining the cost of the rental truck is the size of the truck. Common truck sizes offered by the major moving truck rental companies are 8′, 16′, and 24′. Of course you want to rent a truck that will hold all of your belongings, but renting a truck that is too large just wastes money. If you are moving locally, keep in mind that you may have to make more than one trip with your moving truck.

  Estimate the cost. The cost of renting a moving truck is usually comprised of four factors: truck rental rate, mileage rate, insurance, and fuel. The low rental rates you see advertised are just part of the overall cost you will incur by renting a moving truck. Rental rates are typically quoted on a per day basis. However, you will almost certainly have to pay an additional fee based on how many miles you drive the truck. These rates may seem low, such as 19 cents per mile, but really add up for longer hauls. Of course you must fuel the moving truck, and with most trucks getting around 10 miles per gallon, this component of the total cost will be significant. The final fee you may choose to pay is for insurance. Paying this ensures that you will not be financially liable for the truck or other vehicles in the event of an accident. Remember that weekdays are comparatively cheaper as compared to weekends and similarly summers are more expensive than winters when renting a moving truck.

  Make the reservation. Most moving truck reservations are made online these days. The major companies have easy to navigate websites that provide rates for different size trucks and for local and one-way moves. You will be required to leave a deposit in order to confirm the reservation. A word of caution is necessary here – when you do make a reservation for a moving truck, what you are actually reserving is a rate, not a truck. I’ve moved numerous times over the past ten years and several times I have arrived to get the truck only to realize that they didn’t have the truck I reserved. In most cases they had a larger size truck than the one I wanted, but in one case they didn’t have a truck for me at all. As you can imagine this was a major inconvenience for me on the day I was supposed to move out of my apartment. I won’t mention the name of the company, but I will say I had to haul all of my belongings by another method.

  Pick up the truck. When you go to pick up the moving truck, you must show your drivers license and sign the rental documentation. Remember that large moving trucks have a larger turning radius than the car you probably drive on a daily basis. So be sure to leave room to keep from plowing into other vehicles, etc. Also remember the truck will be much taller than your car, so don’t visit any drive-through windows with short clearances.

  It’s best to do a bit of research first. Get quotes from different companies on the rental rate and mileage cost, and then decide which company is the best for your move. Keep in mind that all moving trucks are not created equal. Some companies maintain fleets much better than others, so look for a company that has newer trucks. This will make your move easier and more comfortable. Finding a good moving truck rental company gives you peace of mind and allows for an easier relocation whether it is an office or home furniture and household items.

  Tip 1:Once you have the above information, do some searching with the moving companies’ name online and see if you can find any customer service reviews. Remember the cheapest moving truck may not always be the best way to go. If your truck breaks down during your move, the rental company will bring you a new truck to use, but you must transfer all of your belongings from the old truck to the new. The rental company will not help with moving your belongings at all. Lastly, make sure you have the phone number of the rental truck company should anything go wrong on the moving day.

  Tip 2:Renting a hand truck and furniture pads to help with your move are a really good idea. These items can greatly speed the moving of boxes and heavy furniture as well as protect your valuable furniture during transport.

  Pro-BargainHunter.com for your Business Needs: Hot Categories – Health Care Quote * Workers Comp * Healthcare Quote * Home Business Insurance * General Liability Insurance * Web Hosting Packages * Business Credit Insurance * Liability Insurance * Small Business Accounting * Creditor Credit Insurance

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  Tags: Moving Companies, Moving Estimate, Moving Truck Rentals

• 28Jun

  Build Business Credit Like Pro

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  Robbi Gunter asked:

  If you are like most small business owners, you want to build business credit for your company and get small business loans when you need them. To build business credit means less risk for you as the owner of the business. There is effort involved when you decide to build business credit. Start taking the steps to build business credit from the get-go. This way, you won’t find yourself without a strong business credit profile even if your business is thriving.

  There is a lot of hype regarding the need to build business credit that says personal credit does not matter. It’s true that when you build business credit, you separate your business credit from your personal credit, but it does help to have strong personal credit as well. The more solid you are on your feet with personal credit, the more effective you will be when you build business credit. Credit protection laws vary between personal and business credit, so it’s important to understand the differences when you begin to build business credit. A good rule of thumb to follow is simply this – repair your personal credit along with the efforts you are making to build business credit.

  As you begin to build business credit, set up your business structure properly with the state and get all the necessary licensing. When you build business credit you will need a business phone listed in the telephone directory under the business name. Buying products or services from companies that report your payment history to Dunn & Bradstreet and Experian will help you build business credit.

  Don’t be discouraged by the best business credit score being reserved for the “big guys” when you build business credit. Maintain your focus and you will build business credit that has enough impact to catch the interest of private commercial lenders. Beware of loan fraud when you build business credit – a legitimate underwriter will not charge you a fee upfront to connect you with a business loan lender. There may be fees for other services involved when you build business credit, but not for that. Good business credit cannot be “bought.”

  Wade Henderson – very Professional – 15 yrs in the Business Finance Field – reputation for getting the deal done. IMMFinancial.com factoring specialist accounts receivable factors factored accounts receivable receivables factoring company accounts recievable factoring factoring and accounts receivable accounts receivable factoring companies sell invoices olympic credit fund factor recievables

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  Tags: Personal Credit, Small Business Loans, Underwriter

• 27Jun

  Twentynine Palms Truck Accident Lawyer’s Top Ten Things People Do That Can Help Cause a Truck Accident

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  R. Sebastian Gibson asked:

  1. Don’t drive near trucks.

   

  2. Don’t drive under trucks.

   

  3. Don’t try to steal from trucks next to you on the road.

   

  4. Don’t allow your kids to make the sign to truck drivers to use their horns and rattle other drivers.

   

  5. Don’t offer alcohol to truck drivers.

   

  6. Buy truck drivers dinner at truck stops so they aren’t tempted to eat while driving.

   

  7. Buy truck drivers and yourself triple shot espressos in truck stops.

   

  8. Don’t make bets with truck drivers as to who will get to a certain location first.

   

  9. Don’t tailgate trucks.

   

  10. Don’t cut in front of trucks when your lane starts to slow and then stop suddenly immediately in front of the truck.

  Here are ten more useful tips of advice from a truck accident lawyer to follow if you have been in an accident. You can also learn more about how to handle a truck accident in Twentynine Palms, or any city, by calling the Law Offices of R. Sebastian Gibson at any of the numbers which can be found on our website at http://www.SebastianGibsonLaw.com  and learning how we can assist you.

   

  Obviously, if you have had an accident, and you are reading all of this advice, it’s probably been at least a few days since the accident. However, if it’s only been a few hours or if you ever have another accident, here’s what you should do the next time from the start.

   

  First, take a look around and determine if you or anyone, are hurt. If so, taking steps like trying to prevent further injury or loss of blood are the most important thing you can do. Even if some other driver caused you to be injured, it’s just good manners to help the other driver if they are hurt. They may even be so thankful that they admit their fault to you. The worst thing you can do is get angry or start a fight.

   

  Second, make sure everyone is safe from being injured further. If you are in the middle of traffic, and you are dizzy, sit down away from traffic. If your vehicle is a traffic hazard and you have accident warning devices like flares or triangles, put them out on the road to warn other drivers and get away from the car. Let the police an other emergency personnel investigate the scene with the vehicles in place and move them more safely at a later point.

   

  Third, call the police. Accident reports are extremely helpful if the police will do such a report. Let the police know you are injured immediately. Answer the police questions honestly. But if you are dazed or confused, let them know you need medical treatment and answer only what you feel sure about. Remember, your statements can and will be used against you if you admit fault, and it will be too late and too fishy to later say you didn’t know what you were saying at the scene. Police know that your best recollection is immediately after an accident.

   

  Fourth, get the other driver’s information including their names, addresses, driver’s license numbers, make and model of their vehicles, license plate numbers, and their insurance company name and policy number. If there are witnesses, get their names, addresses and telephone numbers as well. If the other driver makes any admissions of fault, write those down as well.

   

  Fifth, if you have a camera on your cell phone or in the car and you aren’t too injured, take some photos of the vehicles and the scene. If you can’t do it right away, do it after you are released from the hospital.

  Sixth, if you are hurt, obtain medical treatment. Don’t decline the ambulance or hospital examination to save your insurance company money or to be stoic. Take your valuables out of your car if you can and get checked out at the hospital. If you are not hurt, don’t get treatment you don’t need. However, remember, after an accident, you may feel a rush of adrenaline that causes you to only start feeling symptoms of pain a few hours later. If you have a health plan that requires you to obtain permission first, call them and find out where you are allowed to seek treatment.

   

  Seventh, call a good truck accident lawyer as soon as you have had your initial treatment, so the attorney can gather other important evidence and prevent the insurance company from taking advantage of you and obtaining such things as recorded statements that you feel fine, when many of your symptoms have yet to manifest themselves. A good truck accident lawyer can save you from making a great deal of mistakes and can shoulder much of the hassle of knowing what to do about car repairs, car rentals, medical treatment, witness statements and the like. If you think you will save money by not having an attorney, think again. A good truck accident lawyer can almost always obtain much higher settlements, obtain reductions of medical bills and insurance liens and prevent you from making costly mistakes. Also, most truck accident attorneys advance costs of obtaining police reports, medical records and the like and are paid and reimbursed for these costs only out of any settlement.

   

  Eight, you will need to report the accident to your insurance company, but since they will want to take a recorded statement from you, just like any other driver’s insurance company, it’s good advice to retain an attorney first. And if the other driver did not have insurance, remember that it is your own insurance company that will be your adversary. You will also need to report the accident to the Department of Motor Vehicles and your lawyer can give you the form for this.

   

  Ninth, do not agree to settle your claim privately with the person at fault for the accident. This almost never works out to your advantage. Don’t agree not to call the police. Police reports that determine the fault for an accident are golden. Your agreement to not involve the police only affords an opportunity for the other driver to change his story and blame you when the police will no longer investigate the accident.

   

  Tenth, don’t pay a traffic ticket without a fight if you weren’t at fault or agree to accept a small payment for your vehicle repairs without knowing that the amount will in fact cover the cost of all the repairs.

   

  If you’ve had a truck accident in Twentynine Palms, Palm Springs, Palm Desert, Indio, Coachella, Rancho Mirage, La Quinta, Indian Wells, Cathedral City, Desert Hot Springs, Thermal, Yucca Valley, Joshua Tree, or anywhere in Southern California, we have the knowledge and resources to be your Twentynine Palms Truck Accident Lawyer and your Yucca Valley Truck Accident Attorney. Be sure to hire a California law firm with auto, motorcycle, truck, bicycle, pedestrian, car, bus, train, boat and airplane accident experience, wrongful death experience and insurance law expertise who can ensure you are properly represented and get the compensation you deserve.

   

  If you have a personal injury legal matter, a dog bite or if you’ve lost a loved one in a wrongful death accident, call the Law Offices of R. Sebastian Gibson, or visit our website at http://www.SebastianGibsonLaw.com  and learn how we can assist you.

  Wade Henderson – very Professional – 15 yrs in the Business Finance Field – reputation for getting the deal done. IMMFinancial.com invoice finance receivable financing factoring accounts receivables factoring factoring company invoice discounting business factoring accounts receivable turnover accounts receivable management accounts receivable financing

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  Tags: Gibson, traffic, Trucks

• 27Jun

  Account Receivable Credit Line Provides Instant Capital for Your Business

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  Paul Counts asked:

  Working capital tends to be in short supply for new or growing businesses, and that is why many entrepreneurs and business managers devote lots of time and stress into coming up with capital for their business. The good news is that locating capital for a business isn’t as difficult as one may think. Using account receivables or invoices a business can obtain instant capital by selling them off to a “factor” for a small discount. This process is known as an account receivable credit line because most of the time the “factor” will give the business a type of “credit line”.

  Account receivable credit line financing works great because most of the time startup and growth companies, in particular, simply can’t afford to wait for customers to pay on invoices, or they get in a bind if the customer pays late. It is much easier to get approved for this sort of financing than for a standard business loan from a bank. The flexibility of account receivable credit line financing is attractive to businesses in need of capital.

  Your business could choose to factor only a few invoices or all invoices. You are by no means required to factor all account receivables. Since you are actually selling the invoice to the factor you have the freedom to choose which company to sell the account receivables to, and you of course control when you sell them. You would sell the account receivables for a discount to the factor.

  The company you sell your invoices to would then be in charge of collecting payments from your clients, processing the payments, and also generating reports. This is another positive for businesses that decide to factor invoices. Your client would be notified of the billing address change.

  There are some requirements laid out by the factors who offer an account receivable credit line. Since they are taking on a risk for your clients they will want to make sure that your client is creditworthy. Your businesses credit won’t need to be established to qualify, but your client will need good credit and references as to their payment history. Many new businesses don’t have business credit scores established, so an account receivable credit line allows younger businesses to get capital without long application processes.

  This is also the only form of capital that grows as your business grows. As your sales grow, so does the amount that you can factor, or the amount of capital your business has access to for faster growth. Your business could take advantage of supplier specials or other special deals to save money, or the money could be used to pay your bills early to receive an early payment discount with some suppliers. The list of benefits goes on and on.

  It is important to know your business capital options.

  Health Care Quotes * International Receivables Financing * Credit Insurance * Foreign Receivables * International Accounts Factoring

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  Tags: Business Loan, Business News, Time Startup

« Previous Entries   

Factoring Loan

Invoice Factoring

Discount Factoring

Accounts Receivable Factoring

AR Factoring

Accounts Receivable Financing

Factoring Loan

Invoice Factoring

Discount Factoring

Accounts Receivable Factoring

AR Factoring

Accounts Receivable Financing