Invoice Factoring is beneficial for numerous factors. It allows a trucking business to raise cash without acquiring brand-new financial obligation. While financial obligation is occasionally necessary, the majority of truck businesses would prefer to raise money without obtaining cash. Financial obligation is risky, and when it can not be repaid, possessions can be repossessed. If the financial obligation is large enough, it might even compel a freight broker firm out of business.
The Most Expensive Mistake of Your Life - Select A Truck�Factoring Company Instead Of A Regular Bank Financing
How to Increase Cash Flow Without Borrowing -Cash Money flow is among the primary reasons businesses fail.
At one time or another, every business, even effective ones, have actually experienced bad money flow.
Cash flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get funding. Other options are available and you do not have to borrow. What is trucking factoring ? One option is called trucking factoring. Truck Factoring is the procedure of selling invoices to an investor rather than waiting to gather the cash from the
customer. Oh, the Irony- Truck factoring has a paradoxical difference:
It is the financial
foundation of numerous of America's most successful businesses. Why is this ironic ? Because receivable funding is not instructed in business colleges, is rarely mentioned in business plans and is relatively unknown to the majority of most of American business people.
Yet it is a financial process that releases up billions of dollars every year, allowing countless companies to grow and succeed. Receivable Financing has actually been around for thousands of years. Commercial Factoring 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 actually agreed pay in the near future. Factoring Principals--Although factoring
deals exclusively with business-to-business transactions, a large portion of the retail business utilizes a factoring principal. MasterCard, Visa, and American Express all use a type of factoring in their retail deals. Utilizing the purest definition of the word, these big consumer finance business are really simply big Trucking Factoring Companies of customer paper. Think about it: You make a purchase at Sears and charge
it to your MasterCard. The store makes money almost instantly, even though you do not pay up until you are prepared.
For this service, the credit card business charges XYZ Store a charge (typical common normal fees range from two to 4 percent of the sale). The Advantages Truck Factoring can offer numerous advantages to cash-hungry business. Rather than wait 30, 60, 90 days or longer for payment on a product that has currently been delivered, a company can factor
(sell) its receivables for money at a little price cut
off the amount of
the invoice. Payroll, advertising efforts, and working capital are simply a few of the company needs that can be satisfied with instant money.
Receivable Financing provides the ways for a manufacturer to replenish stock and make even more items to offer: There is no longer a requirement to wait for earlier sales to be paid. FACTORING is not simply a cash management tool for producers: Practically any kind company can benefit from Receivable Loan Funding. Generally, a business that extends credit
will have 10 to 20 percent
of its yearly sales tied up in invoices at any given time. Think for a moment about how much is tied up in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a client s invoice, but you can sell that invoice for the money to satisfy those obligations. Using truck factoring companies is a fast and simple procedure. The factor purchases the invoice at a discount, usually a few percentage
points less than the stated value of the invoice.
0928679Primary Airport Albuquerque International SunportABQ (Major/International) Secondary Airport Double Eagle II Airport-KAEG (Public) Website www.cabq.gov Albuquerque i/'�lb??k?rki/ is the most populous city in the U.S. state of New Mexico. It is a high-altitude city and serves as the county seat of Bernalillo County, and it is situated in the central part of the state, straddling the Rio Grande. The city population was 555,417 as of the July 1, 2012, population estimate from the United States Census Bureau, and ranks as the 32nd-largest city in the U.S. The Albuquerque MSA has a population of 902,797 according to the United States Census Bureau's most recently available estimate for July 1, 2013. Albuquerque is the 59th-largest United States metropolitan area. The Albuquerque MSA population includes the city of Rio Rancho, Bernalillo, Placitas, Corrales, Los Lunas, Belen, Bosque Farms, and forms part of the larger Albuquerque � Santa Fe � Las Vegas combined statistical area, with a total population of 1,163,964 as of the July 1, 2013 Census Bureau estimates. With its population growing bigger over the years, Albuquerque is the fastest growing city in New Mexico by population.Albuquerque is home to the University of New Mexico (UNM), Kirtland Air Force Base, Sandia National Laboratories, Lovelace Respiratory Research Institute, Central New Mexico Community College (CNM), Presbyterian Health Services, and Petroglyph National Monument. The Sandia Mountains run along the eastern side of Albuquerque, and the Rio Grande flows through the city, north to south.Sandia National Laboratories, Kirtland Air Force Base, and the attendant contracting companies which bring highly educated workers to a somewhat isolated region. Intel operates a large semiconductor factory or ""fab"" in suburban Rio Rancho, in neighboring Sandoval County, with its attendant large capital investment. Northrop Grumman is located along I-25 in northeast Albuquerque, and TempurPedic is located on the West Mesa next to I-40.
Las Cruces, also known as ""The City of the Crosses"", is the county seat of Do�a Ana County, New Mexico, United States. As of 2013 the population is 101,324 making it the second largest city in the state, after Albuquerque. Las Cruces is the largest city in both Do�a Ana County and southern New Mexico. It is the principal city of a metropolitan statistical area which encompasses all of Do�a Ana County and is part of the larger El Paso�Las Cruces combined statistical area.Las Cruces is the economic and geographic center of the fertile Mesilla Valley, which is the agricultural region on the flood plain of the Rio Grande which extends from Hatch to the west side of El Paso, Texas. Las Cruces is also the home of New Mexico State University (NMSU), New Mexico's only land grant university. The city's major employer is the federal government on nearby White Sands Test Facility and White Sands Missile Range. The Organ Mountains, ten miles (16 km) to the east, are dominant in the city's landscape, along with the Do�a Ana Mountains, Robledo Mountains, and Picacho Peak. Las Cruces lies 225 miles (362 km) south of Albuquerque, New Mexico, 43 miles (69 km) northwest of El Paso, Texas and 60 miles (97 km) north of the Mexican border.Spaceport America, which lies 44 miles (71 km) north of Las Cruces, has seen the completion of several successful manned, suborbital flights. The city is also the headquarters for Virgin Galactic, the world's first company to offer sub-orbital spaceflights.Movies and TV series shot in Las Cruces include:
Rio Rancho (Spanish: R�o Rancho) is the largest city and economic hub of Sandoval County in the U.S. state of New Mexico. A small portion of the city extends into northern Bernalillo County. It is the third-largest and also one of the fastest growing cities in New Mexico. As of the 2010 census, Rio Rancho had a population of 87,521, a 69% rise from 2000. In 2012, the city had an estimated population of 90,818.Rio Rancho is part of the Albuquerque Metropolitan Statistical Area.The Intel Corporation is by far the largest employer in Rio Rancho. The services, retail, and government sectors are also major components of the local economy.
Santa Fe (/?s�nt?'fe?/; (Tewa: Ogha Po'oge, Navajo: Yoot�)) is the capital of the state of New Mexico. It is the fourth-largest city in the state and is the seat of Santa Fe County. Santa Fe is the oldest capital city in the United States and the oldest city in New Mexico. Santa Fe (meaning �holy faith� in Spanish) had a population of 69,204 in 2012. It is the principal city of a Metropolitan Statistical Area which encompasses all of Santa Fe County and is part of the larger Albuquerque-Santa Fe-Las Vegas Combined Statistical Area. The city�s full name when founded was La Villa Real de la Santa Fe de San Francisco de As�s (�The Royal Town of the Holy Faith of St. Francis of Assisi�).Santa Fe has had an association with science and technology since 1943 when the town served as the gateway to Los Alamos National Laboratory (LANL), a 45 minute drive from the city. In 1984, the Santa Fe Institute (SFI) was founded to research complex systems in the physical, biological, economic, and political sciences. It hosts such Nobel laureates as Murray Gell-Mann (physics), Philip Warren Anderson (physics), and Kenneth Arrow (economics). The National Center for Genome Resources (NCGR) was founded in 1994 to focus on research at the intersection among bioscience, computing, and mathematics. In the 1990s and 2000s several technology companies formed to commercialize technologies from LANL, SFI, and NCGR. This community of companies has been dubbed the ""Info Mesa.""
Roswell is a city in, and the county seat of, Chaves County in the southeastern quarter of the state of New Mexico, United States. As of the 2010 census it had a population of 48,411, making it the 5th largest city in New Mexico. It is a center for irrigation farming, dairying, ranching, manufacturing, distribution, and petroleum production. It is also the home of New Mexico Military Institute (NMMI), founded in 1891. Bitter Lake National Wildlife Refuge is located a few miles northeast of the city on the Pecos River. Bottomless Lakes State Park is located 12 miles (19 km) east of Roswell on US 380.Roswell is most popularly known for having its name attached to what is now called the 1947 Roswell UFO incident, even though the crash site of the alleged UFO was some 75 miles (121 km) from Roswell and closer to Corona. The investigation and debris recovery was handled by the local Roswell Army Air Field.
Farmington is a city in San Juan County in the US state of New Mexico. As of the 2013 population estimate from the United States Census Bureau the city had a total population of 45,426 people. Farmington (and surrounding San Juan County) makes up one of the four Metropolitan Statistical Areas (MSA's) in New Mexico. The U.S. Census Bureau's population estimate in 2011 for Farmington was about 45,256.Farmington is located at the junction of the San Juan River, the Animas River, and the La Plata River, and is located on the Colorado Plateau. Farmington is the largest City of San Juan County, one of the geographically largest counties in the United States covering 5,538 square miles (14,340 km2). The county seat and the other city in San Juan County is Aztec. Farmington serves as the commercial hub for most of northwestern New Mexico and the Four Corners region of four states. Farmington lies at or near the junction of three important highways U.S. Highway 550, U.S. Highway 64, and New Mexico Highway 371.It is on the Trails of the Ancients Byway, one of the designated New Mexico Scenic Byways.The primary industries of San Juan County are in the mining of petroleum, natural gas, and coal. Major coal mines are the Navajo and San Juan mines, operated by BHP Billiton 15 to 19 miles (24 to 31 km) southwest of Farmington. The coal mined from the Navajo and San Juan mines is used entirely for fuel for the nearby Four Corners Generating Station and San Juan Power Plant to produce electric power.Farmington is known across New Mexico and throughout the southwest for its baseball tournaments, and the Ricketts Ball Park is the home of the Connie Mack World Series. Farmington High School claimed the AAAA Baseball State Championship four years in a row from 2005 through 2008. Piedra Vista High School also claimed the AAAA Baseball State Championship in 2010 and 2011.
South Valley is a census-designated place (CDP) and town in Bernalillo County, New Mexico, United States. The population was 40,976 at the 2010 Census. It is part of the Albuquerque Metropolitan Statistical Area. The U.S. Postal Service uses ""Albuquerque"" for all South Valley addresses (ZIP code 87105).
Clovis is the county seat of Curry County, New Mexico, United States, with a population of 37,775 as of the 2010 census.Clovis is located in the New Mexico portion of the Llano Estacado, in the eastern part of the state. A largely agricultural community, it is noted for its role in early rock music history and for nearby Cannon Air Force Base.It is the principal city of the Clovis Micropolitan Statistical Area, which is part of the larger Clovis-Portales Combined Statistical Area.
Hobbs is a city in Lea County, New Mexico, United States. The population was 34,122 at the 2010 Census, increasing from 28,657 at the 2000 census.Hobbs is the principal city of the Hobbs, New Mexico Micropolitan Statistical Area, which includes all of Lea County.
Alamogordo /?�l?m?'g?rdo?/ is the county seat and economic center of Otero County in south-central New Mexico, United States. A city in the Tularosa Basin of the Chihuahuan desert, it is bordered on the east by the Sacramento Mountains. It is the city nearest to Holloman Air Force Base. The population was 30,403 as of the 2010 census. Alamogordo is known for its connection with the Trinity test, the first explosion of an atomic bomb, and also for the Atari video game burial of 1983.Humans have lived in the Alamogordo area for at least 11,000 years. The present settlement, established in 1898 to support the construction of the El Paso and Northeastern Railroad, is an early example of a planned community. The city was incorporated in 1912. Tourism became an important economic factor with the creation of White Sands National Monument in 1934. During the 1950-60s, Alamogordo was an unofficial center for research on pilot safety and the developing United States' space program.Alamogordo is a charter city with a council-manager form of government. City government provides a large number of recreational and leisure facilities for its citizens, including a large park in the center of the city, many smaller parks scattered through the city, a golf course, Alameda Park Zoo, a network of walking paths, Alamogordo Public Library, and a senior citizens' center. Gerald Champion Regional Medical Center is a nonprofit shared military/civilian facility that is also the hospital for Holloman.Alamogordo is the economic center of Otero County, with over half the Otero County population living within the city limits. Alamogordo today has very little manufacturing and has a primarily service and retail economy, driven by tourism, a large nearby military installation and a concentration of military retirees. In 2006 the per capita income in Otero County was $22,377 versus per capita income in New Mexico of $29,346.
0887199Primary Airport Cavern City Air TerminalCNM Website City of Carlsbad Carlsbad (/'k?rlzb�d/ KARLZ-bad) is the county seat of Eddy County, New Mexico, United States. As of the 2010 census, the city population was 26,138. Carlsbad is centered at the intersection of U.S. Routes 62/180 and 285, and is the principal city of the Carlsbad-Artesia Micropolitan Statistical Area, which has a total population of 55,435. Located in the Southeastern part of New Mexico, Carlsbad straddles the Pecos River and sits at the eastern edge of the Guadalupe Mountains.Carlsbad is a hub for potash mining, petroleum production, and tourism. Carlsbad Caverns National Park is located 18 mi (29 km) southwest of the city and Guadalupe Mountains National Park lies 40 miles southwest across the Texas border; the Lincoln National Forest is to the northwest of town.The economy of the Carlsbad area is based primarily on the mineral extraction sector; the city overlies the rich oil- and gas-producing formations of the Permian Basin and produces more potash than any other location in the United States. Carlsbad is home to the DOE's Carlsbad Field Office which operates the Waste Isolation Pilot Plant to safely store the transuranic nuclear wastes from the nation's defense sites. Tourism is a major factor with Carlsbad Caverns National Park, Guadalupe Mountains National Park, Lincoln National Forest, the Living Desert Zoo and Gardens State Park, and the annual Christmas on the Pecos Light Show all located within fifty miles of the city.
Gallup (Navajo: Na'n�zhoozh�) is a city in McKinley County, New Mexico, United States. The population was 21,678 at the 2010 census. It is the county seat of McKinley County and the most populous city between Flagstaff and Albuquerque.Gallup was also named as the winner in the Best of the Road Contest as the Most Patriotic Small Town in America for 2013.It is on the Trails of the Ancients Byway, one of the designated New Mexico Scenic Byways.
Deming is a city in Luna County, New Mexico, United States, located 60 miles (97 km) west of Las Cruces. It is also thirty-three miles north of the Mexican border. The population was 14,855 according to the 2010 census. Deming is the county seat and principal town of Luna County.Deming's economy is based on transportation, real estate, agriculture, energy, retirement, tourism, and the United States Department of Homeland Security. United States Border Patrol vehicles comprise a large fraction of Deming area road traffic.
Los Lunas is a village in Valencia County, New Mexico, in the United States. As of the 2010 census, the village population is 14,835 inside the village limits due to the new housing developments at El Cerro de Los Lunas (Huning Ranch). It is the county seat of Valencia County.Los Lunas is part of the Albuquerque Metropolitan Statistical Area. The name ""Los Lunas"" is a partial Anglicization of the name of the Luna family, who originally settled in the area (los Luna, in Spanish).
Chaparral is a census-designated place (CDP) in Do�a Ana County, New Mexico, United States. The population was 14,631 at the 2010 census. A portion of Chaparral is also in Otero County, New Mexico, United States.While there is some employment within Chaparral, Chaparral is primarily a bedroom community for the neighboring city of El Paso, Texas and the neighboring military installations of White Sands Missile Range and Fort Bliss. It is officially part of the Las Cruces Metropolitan Statistical Area.
Sunland Park, New Mexico, is a city in southern Do�a Ana County, on the borders of Texas and the Mexican state of Chihuahua, with Ciudad Juarez adjoining it on the south and El Paso, Texas on the east. The communities of Santa Teresa and La Union adjoin it on the northwest and north, respectively. The population of Sunland Park was 18,204 at the 2010 census. Though it lies adjacent to El Paso, being in Do�a Ana County makes it a part of the Las Cruces Metropolitan Statistical Area. Las Cruces is 30 miles to the north.The city is at the foot of Mount Cristo Rey, next to the Rio Grande, and is named for Sunland Park Racetrack & Casino, which lies within the city limits. The location was formerly called Anapra, a name shared by an adjacent slum area of Ciudad Juarez.
Las Vegas is a city and county seat of San Miguel County, New Mexico, United States. Once two separate municipalities (one a city and the other a town) both named Las Vegas, west Las Vegas (""Old Town"") and east Las Vegas (""New Town""), separated by the Gallinas River, retain distinct characters and separate, rival school districts. The population was 14,565 at the 2000 census. Las Vegas, NM is located 110 miles (180 km) south of Raton, New Mexico, 65 miles (105 km) east of Santa Fe, New Mexico, 122 miles (196 km) northeast of Albuquerque, New Mexico, 257 miles (414 km) south of Colorado Springs, Colorado, and 326 miles (525 km) south of Denver, Colorado.
Portales is a city in and the county seat of Roosevelt County, New Mexico, United States. The population was 12,280 at the 2010 census. Portales is located near the larger city of Clovis as well as Cannon Air Force Base, a major contributor to the economy of the region.Eastern New Mexico University opened in Portales in 1934 and has grown to become the third largest university in the state. Portales is one of the largest producers of peanuts in the United States and is the nation's top producer of Certified Organic peanut butter. Portales is home to over about 40 dairies and a major US dairy solids plant, together producing and exporting hundreds of millions of dollars of local milk products each year. Portales is the principal city of the Portales Micropolitan Statistical Area, which is part of the larger Clovis-Portales Combined Statistical Area, including Clovis, 19 miles (31 km) away and Cannon Air Force Base, 13 miles (21 km) away.The economy of Portales and surrounding communities is strongly supported by the peanut and dairy industries, Eastern New Mexico University, value-added food processing, a growing military presence, and agriculture (including cattle ranching, dairy farming, and crop production). In recent years, the economy of Portales has grown significantly along with the price and volume of agricultural commodities being produced in the region. The area around Portales is also drawing increased attention for its abundance of steady wind power, solar energy, and biofuel feedstock.
Los Alamos (Spanish: Los �lamos, meaning ""The cottonwoods"") is a townsite and census-designated place (CDP) in Los Alamos County, New Mexico, United States, built upon four mesas of the Pajarito Plateau and the adjoining White Rock Canyon. The population of the CDP was 12,019 at the 2010 Census. The townsite or ""the hill"" is one part of town while White Rock is also part of the town. Technically, both are part of the same incorporated city/county. Los Alamos is home to the Los Alamos National Laboratory, which was founded to undertake the Manhattan Project. Los Alamos County is an incorporated county, and many county offices are located at the townsite of Los Alamos. Los Alamos High School is the public high school of Los Alamos County. Before the Manhattan Project, the site was occupied by the Los Alamos Ranch School. Los Alamos has a county council which the people elect to four-year terms. The county council is seven members with four or three persons elected every two years to the four-year terms. The council elects a chairman and vice-chairman. Los Alamos is the 5th fastest growing city in New Mexico, after Albuquerque, Rio Rancho, Las Cruces, and Ruidoso.
North Valley is a census-designated place (CDP) in Bernalillo County, New Mexico, in the United States. As of the 2010 Census, the CDP population was 11,333. It is part of the Albuquerque Metropolitan Statistical Area. Another name for ""North Valley"" is ""North Albuquerque.""
Artesia is a city in Eddy County, New Mexico, United States, centered at the intersection of U.S. Route 82 and 285; the two highways serve as the city's Main Street and First Street, respectively. As of the 2000 census, the city population was 10,692.The principal economic activities which support Artesia are the oil and gas industry, agriculture and dairy. Prominent, local oil and gas businesses . In the Fall of 2010, Resources acquired most of Energy Corp's assets for nearly $1.6 billion. Frontier Corporation also operates the Refinery, the largest refinery in New Mexico, at the corner of 1st and Main Street.
Lovington is a city in and the county seat of Lea County, New Mexico, United States. The population was 11,009 at the 2010 census.
Silver City is a town in Grant County in southwestern New Mexico, USA. In 2012 the population was 10,273. It is the county seat and the home of Western New Mexico University.Silver City was founded as a mining town. George Hearst built a smelter after the Silver City, Deming and Pacific narrow gauge railway reached Silver City in 1883. The Santa Fe Railroad provided standard gauge rail service in 1886; and Commanche Mining and Smelting extended the 2-foot narrow gauge Silver City, Pinos Altos and Mogollon Railroad to Pinos Altos in 1906.
Espa�ola /?sp?n'jo?l?/ is a city primarily in Rio Arriba County, New Mexico, in the United States. A portion of the central and eastern section of the city is in Santa Fe County. Espa�ola was founded in 1880 as a railroad village and incorporated as a city in 1925. The city is situated in an area Juan de O�ate declared a capital for Spain in 1598. Espa�ola has been called the first capital city in America. At the 2010 census, the city had a total population of 10,495. Espa�ola is within the Albuquerque � Santa Fe � Las Vegas combined statistical area.The Los Alamos National Laboratory in Los Alamos is the largest employer in Espa�ola, it accounts for over 12% employment of residents. The education sector is the second largest employer, the Espa�ola Public Schools is the 16th largest school district in New Mexico. Recently, Northern New Mexico College has expanded its degree programs and made massive improvements to its campus, adding a new library and a new School of Education. Larger local businesses include Securities Inc, a security company that employees over 500 people.
Anthony is a city in Do�a Ana County, New Mexico, United States. The population was 9,360 at the 2010 census. It is located on the New Mexico�Texas state line in the Upper Mesilla Valley (immediately north of Anthony, Texas), and on Interstate 10, 27 miles south of Las Cruces and 21 miles north of El Paso, Texas. The city is part of the El Paso�Las Cruces combined statistical area.In an election held on January 5, 2010, Anthony residents voted in favor of incorporating the community. A total of 561 votes were cast, with 410 (73.1%) supporting the measure and 151 (26.9%) opposed. The new municipality officially came into existence on July 1, 2010.In its second elections held March 6, 2012 the City of Anthony voters elected two trustees, a new mayor and judge. The final results were as follows; for Mayor: Arnulfo Casta�eda, 224 (winner); Juan Acevedo, 181, Two trustees: James Scott, 231 (winner); Pilar Madrid, 255 (winner); Janny Brumlow, 160, for Municipal judge: Peggy Scott, 340 (winner) The total number of ballots cast in the election was 1,391, according to a canvass certificate. Of those, 1,244 were cast on election day, 136 were cast in early voting and 11 were cast in absentee voting.
Grants is a city in Cibola County, New Mexico, United States. It is located about 78 miles (126 km) west of Albuquerque. The population was 9,182 at the 2010 Census. It is the county seat of Cibola County.It is on the Trails of the Ancients Byway, one of the designated New Mexico Scenic Byways.
Socorro is a city in Socorro County in the U.S. state of New Mexico. It stands in the Rio Grande Valley at an elevation of 4,579 feet (1,396 m). In 2012 the population was 8,906. It is the county seat of Socorro County. Socorro is located 74 miles (119 km) south of Albuquerque and 146 miles (235 km) north of Las Cruces.
Bernalillo is a town in Sandoval County, New Mexico, in the United States. As of the 2000 census, the town population was 6,611. It is the county seat of Sandoval County.Bernalillo is part of the Albuquerque Metropolitan Statistical Area.
Shiprock (Navajo: Naat'�anii N��z) is a census-designated place (CDP) in San Juan County, New Mexico, United States, on the Navajo reservation. The population was 8,156 at the 2000 census. It is part of the Farmington Metropolitan Statistical Area.Shiprock is named after the nearby Shiprock rock formation. It is home to the annual Northern Navajo Fair, held every October. Since 1984, the community has been the host of the Shiprock Marathon and Relay. It is also home to a campus of Din� College (formerly Navajo Community College), a tribally controlled community college with seven other campuses across the Navajo Nation. It is the site of a Chapter House for the Navajo, a Bureau of Indian Affairs agency, the Northern Navajo Medical Center (an Indian Health Service hospital), and a branch of Farmington Public Library.Shiprock is a key road junction for truck traffic and tourists visiting the Four Corners, Mesa Verde, Shiprock and the Grand Canyon. The town lies at the intersection of U.S. Highway 64 and U.S. Highway 491 (formerly U.S. Highway 924).
Bloomfield (Navajo: Naabi'�n�) is a city in San Juan County, New Mexico, United States. It is part of the Farmington Metropolitan Statistical Area. The population was 8,112 at the 2010 census.It is on the Trails of the Ancients Byway, one of the designated New Mexico Scenic Byways.
Nickname(s): Join the Smile High ClubLiving in Natures Playground Location of Ruidoso, New Mexico Coordinates: 33�20'29?N 105�39'58?W? / ?33.34139�N 105.66611�W? / 33.34139; -105.66611Coordinates: 33�20'29?N 105�39'58?W? / ?33.34139�N 105.66611�W? / 33.34139; -105.66611 Country United States State New Mexico County Lincoln Government � Mayor Tom Battin Area � Total 14.0 sq mi (37.0 km2) � Land 14.3 sq mi (37.0 km2) � Water 0.63 sq mi (0.2 km2) Elevation 6,920 ft (2,051 m) Population (2000) � Total 8,029 � Density 340/sq mi (143.6/km2) Time zone Mountain (UTC-7) � Summer (DST) Mountain (UTC-6) ZIP codes 88345, 88355 Area code(s) 575 FIPS code 35-65210 GNIS feature ID 0923668 Website Ruidoso Valley Chamber of Commerce Ruidoso is a village in Lincoln County, New Mexico, United States, adjacent to the Lincoln National Forest. The population was 8,029 at the 2010 census. The cities of Ruidoso Downs, wood, Mescalero, and Alto are suburbs of Ruidoso, and contribute to the Ruidoso Micropolitan Statistical Area's population of 21,223.A mountain resort town, Ruidoso lies in the rugged Sierra Blanca mountain range of southcentral New Mexico, where it merges with the Sacramento Mountains to the south. Ruidoso is a rapidly growing resort community due to the region's alpine scenery, the Ruidoso Downs racetrack, and the slopes of Ski Apache, the Mescalero Apache Tribe-owned ski resort on Sierra Blanca, a 12,000-foot (3,700 m) mountain. The tribe also operates the Inn of the Mountain Gods resort in the area, which includes a casino, hotel, and golf course. Ruidoso is the largest community in Lincoln County, and serves as the regional economic hub.Ruidoso has been experiencing explosive growth. Currently, Ruidoso is the 4th fastest growing city in New Mexico, after Albuquerque, Rio Rancho, and Las Cruces. Massive investment has poured into the town from many developers. Major projects including large housing subdivisions, condos, and retail establishments have altered the face of the once ""sleepy mountain community."" As a result, the Village is contending with serious questions about the adequac"
White Rock is a census-designated place (CDP) in Los Alamos County, New Mexico, United States. The population was 6,045 at the 2000 census. It is largely a bedroom community for employees of Los Alamos National Laboratory and their families. Access to White Rock from the town of Los Alamos and other cities and towns in New Mexico is via New Mexico State Road 4, which forms the northwestern boundary of the community. Administratively, White Rock is a neighborhood of Los Alamos; locals refer to Los Alamos (meaning not White Rock) as ""the Townsite,"" or ""the Hill"".
Taos /'ta?s/ is a town in Taos County in the north-central region of New Mexico in the Sangre de Cristo Mountains, incorporated in 1934. As of the 2010 census, its population was 5,716. Other nearby communities include Ranchos de Taos, Ca�on, Taos Canyon, Ranchitos, El Prado, and Arroyo Seco. The town is close to Taos Pueblo, the Native American village and tribe from which it takes its name.Taos is the county seat of Taos County. The English name Taos derives from the native Taos language meaning ""place of red willows"".Taos is the principal city of the Taos, NM Micropolitan Statistical Area, which includes all of Taos County.
Tucumcari is a city in and the county seat of Quay County, New Mexico, United States. The population was 5,363 at the 2010 census. Tucumcari was founded in 1901, two years before Quay County was founded.Income inequality rose from 1990 to 2000.
Rio Communities is a city in Valencia County, New Mexico, United States. Prior to its incorporation on May 16, 2013, it was a census-designated place (CDP). The CDP population was 4,213 as of the 2000 census.
Meadow Lake is a census-designated place (CDP) in Valencia County, New Mexico, United States. The population was 4,491 at the 2000 census. It is part of the Albuquerque Metropolitan Statistical Area.
El Cerro Mission is a census-designated place (CDP) in Valencia County, New Mexico, United States. The population was 4,657 at the 2010 census. It is part of the Albuquerque Metropolitan Statistical Area.
Santa Teresa is a census-designated place (CDP) in Do�a Ana County, New Mexico, United States. The population was 4258 at the 2010 census. It is part of the Las Cruces Metropolitan Statistical Area, although geographically it is considerably closer to El Paso, Texas than to Las Cruces.
Bosque Farms is a village in Valencia County, New Mexico, United States. The population was 4,092 at the 2010 census. It is part of the Albuquerque Metropolitan Statistical Area.
La Cienega is a census-designated place (CDP) in Santa Fe County, New Mexico, United States. It is part of the Santa Fe, New Mexico Metropolitan Statistical Area. The population was 3,007 at the 2000 census.
Edgewood is a town in Santa Fe County, New Mexico, United States, and is currently the fastest growing place in the state of New Mexico. Through annexations, its town boundaries now extend into Bernalillo and Torrance counties. It is part of the Santa Fe Metropolitan Statistical Area.Although in Santa Fe County, Edgewood lies closer to Albuquerque and in recent years has become a popular bedroom community for commuters. The town's population grew 97% between 2000 and 2010, from 1,893 to 3,735. Edgewood boasts a median household income of over $50,000 per year, a high number compared to the state averages.
Peralta is a town in Valencia County, New Mexico, United States. Prior to its incorporation on July 1, 2007, it was a census-designated place (CDP). The CDP population was 3,750 as of the 2000 census.Peralta is part of the Albuquerque Metropolitan Statistical Area.
Milan is a village in Cibola County, New Mexico, United States. The population was 3,245 at the 2010 census.A suburb of Grants, Milan's population has grown by over 1,300 between 2000 and 2010, a rate of 71.6%. Many new houses and service-oriented businesses are being built. Milan is the site of the privately run Cibola County Correctional Center, which houses more than 1,000 federal prisoners and is a major employer.
The American Transportation Association
specifies that there around
200,000 work with truck
300,000 personal service providers trucking
firms licensed to
run in the United States that transferred,
according to their latest searchings for billions of
items, supplies and
standard materials .
There are several typical
groups on our nation
roads transporting these
vital items to our
shops, factories and harbors.
And trucking factoring
countless of them and offer their
accounts receivablesfinancing facilities
including the following states.
Alaska, Arizona, Arkansas,
California, Colorado, Connecticut, Delaware,
Florida, Georgia, Hawaii, Idaho State,
Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska,
Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming
Because irrigation opportunities are few, most of the arable land is given over to grazing. There are many large ranches, with cattle and sheep on the open range year round. In the dry farming regions, the major crops are hay and sorghum grains. Onions, potatoes, and dairy products are also important. In addition, pi�on nuts, pinto beans, and chilis are crops particularly characteristic of New Mexico. Pinewood is the chief commercial wood. Much of the state's income is derived from its considerable mineral wealth. New Mexico is a leading producer of uranium ore, manganese ore, potash, salt, perlite, copper ore, natural gas, beryllium, and tin concentrates. The federal government is the largest employer in the state, accounting for over one quarter of New Mexico's jobs. A large percentage of government jobs in the state are related to the military; there are several air force bases, along with national observatories and the Los Alamos and Sandia laboratories. Climate and increasing population have aided New Mexico's effort to attract new industries; manufacturing, centered especially around Albuquerque, includes food and mineral processing and the production of chemicals, electrical equipment, and ordnance. High-technology manufacturing is increasingly important, much of it in the defense industryPetroleum and coal are also found in smaller quantities
Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.
List of Trucking Companies for Owner/Operators and Company Drivers
Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen
EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!
Locate truck driving jobs by city, state, position andenefits offered. Search current driving jobs and fill out the EZ truck driver application customized for cdl trucking jobs
If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.
If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.
The largest trucking companies in the U.S. set a revenue record in 2013, but revenuegrowth slowed for the second year in a row.
The combined revenue of the 50 largest motor carriers rose to $106.6 billion last year, according to The Top 50 Trucking Companies list, based on data prepared by Consulting Group in Pittsburgh.
Powell 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, Powell 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. The money was flowing, and times were great.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed to a crawl
. Worse still, it was noticed by Powell in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. Spring changed to summer, summer changed to fall, and the CEO of Powell, Martin Gomez, was beginning to feel very uncomfortable indeed whenever he looked at their weekly Accounts Receivable reports. There was a growing list of clients who now owed them back debt.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? By his bookkeepers records, this wasn't the case. Perhaps he was losing his customers to his competitor, who seemed to offer very low prices with no guarantee of quality or performance, and these clients who were in debt to his company had possibly disappeared leaving him stranded. 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 Powell hadn't gone elsewhere. The had just gone!.The situation looked dire to Martin Gomez. Martin was very concerned, because there were constant overheads, goods to ship, employees to pay, and trucks which needed to be maintained, but there just wasn't the money coming back into the business. After work he would confide in his wife, Anne, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he'd sadly say to his wife.""Well, what do you think it is?"" she would say.Martin would stare off for a moment and then close eyes. In his mind he could clearly see the fleet of trucks purchased over the many years. He could see them on the road, delivering good to all his loyal customers. But then a haze would cover his trucks and his vast fleet would vanish to leave just a few. Why couldn�t he work out how to resolve this financial problem with his business?""I know what it is,"" said Martin. ""I've relied too long on the profits I receive from invoices alone. For too long I've been allowing our clients to let their accounts become overdue."" Anne would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Anne was trying so hard to support her husband in these worrying times, while Martin was weighed down with the worry of how he was going to handle this situation he found himself in.The next day Martin strolled into his office and was determined to sit down and make every phone call to every client who had owed Powell money. Now, it wasn't the most efficient way to spend a day as a chief executive, what he really needed to be doing was to be overseeing all of the other intricacies of shipment and delivery and reaching out to prospective clients or retraining his sales team to do the same. 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. Wasting money, wasting time - even with the best of intentions, Martin knew that he was in trouble.
After a half day of contacting debtors in vain - they dodged his calls or promised to call back at worst or made minimal interest-only payments at best - he was about to throw in the towel when his secretary Lisaerley knocked at his door.
""Can I have a word with you Martin?"" she asked standing in the doorway.
""Of course Lisa, please come in."" Martin leaned back in his chair and looked expectantly at Lisaerely.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Martin."" She pulled a small stack of papers from a folder and set them on the desk before him.""Have you ever heard of factoring?"" she asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.
Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Martin interrupted ""Immediately?"".""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. Additionally, the factoring will help to determine the creditworthiness of our customers independent of their credit history with our business. It�s a broad view.""I see,� Martin said. �And then what?""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.
This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Martin leaned forward and reviewed the paperwork closely.""I do not know, Lisa - it just sounds too good to be true"", Martin said quietly.""Yes, I know; that's exactly what I thought at the beginning. 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 Martin,"" she drew a circle around a paragraph on the document before him.""Just how flexible?"" asked Martin.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. 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,"" said Martin.Martin 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.""Martin took a moment to think about this solution, and agreed with his secretary. The customers who were in debt to Powell Truck & Haul were professional resources of the company, but they were also long-standing friends. Just because they were experiencing difficulties paying their own bills now, Martin was very concerned about losing these relationships. Martin 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 could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Well, let me think about this tonight Lisa, thank you."" Lisa nodded, satisfied with her work, and she left the office feeling quite content in the knowledge that she had helped Martin keep the shirt on his back, and possibly hers too.Martin 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 Powell 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, Powell 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 Eric about this,"" muttered Martin to himself.Eric is Martin's son-in-law, and he really admired the ideas behind Powell, so much so that only two years before he had started his own transportation service business. At that time Martin knew the struggles Eric would face, but he still encouraged him to follow his dream. With the economy the way it was, if an established company such as Powell was struggling then the little guys, like Eric, were going to be in even more trouble.
But, an antidote may have been found in freight factoring and Martin was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Martin 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 used that time to refocus their efforts in being competitive in new territories. Martin recalled those dismal months when he wasn't aware of freight factoring, and he shuddered at those memories. Had he missed the boat on this one, he probably wouldn't be in business today.
More Trucking Factoring Companies Story Articles
Factoring in the Future of a Trucking Business: A Story Jose Young let the phone ring on his desk. His morning coffee cooled and his cigarette smoked away in the tray: Jose is thinking, and pondering the biggest decision he's ever had to make for his trucking business. Young Trucking Company was at a turning point of growth and Jose had to decide if signing with a factoring company was the right way forward.
Jose�s father had started as an owner-operator and had grown Young Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Jose�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. But now things were different: the company was in Jose's hands and he needed to ensure that this business would be left in great shape for his sons.
There just never seemed to be enough money to go around, and certainly no spare cash, but to move his company successfully into the future he needed a steady and reliable cash flow. His employees needed to be paid. 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. Every time he had to turn down a request, Young Trucking looked weak in a very strong market.
His father would have told him to wait and to take his time adding on new technology. Jose chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. His Dad would say ""Why on earth do you need some stranger telling you to get off the exit that everyone knows has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). He knew his father's days were long gone and new technology was very important for the business, like having Qualcomm to reduce communication time for bills of lading.
Jose knew he was right in his forward thinking. How would he take Young Trucking to the next level? And how would he be able to afford it? Business funding was tied up in fuel bills and the mortgage for the garage and office. He just finished paying off the small bank loan for installing satellite radio in the trucks for the guys.
He wondered about factoring - was this the answer for him? There was a lot he didn�t understand about the process. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. 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 the assistance of factoring, you have to wait for customers to send you the payment which is often 30 days late. In those 30 days, a trucking company can�t pay its bills and employees in invoices.
Jose had to really consider what his next step was going to be. Jose had heard that there were companies that charged for same day money transfers and would only advance a percentage of the money owed to your company while holding the rest in a private account if they didn�t get their bill payment within 60 or so days. Plus it was worse still if the customer didn�t pay up at all because then the factoring company would take it right out of the money supposed to be coming to you! He'd even heard about some companies putting you onto a sliding percentage scale regardless of any previously signed contracts for possibly 3% or 7%, and there you are now with 10% coming as a charge to you out of the freight bill. His colleague, Ronnie, who owned a trucking company in Missouri, was nearly destroyed by a factoring company who charged him the full freight bill on top of the fees for factoring. Well, what was the point of going to a factoring company if there was shady business like that going on?
However, it all turned out to be very simple. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Customer service appeared to understand their company and explained in clear, concise English exactly how it all worked. He was quite happy to sign 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. Many companies offered a non-recourse factoring program that suited him just fine. Also he was happy to hear how much he was offered in terms of percentages on the freight bills. It was good money.
For Jose it was quite a relief to be dealing with the factoring company. They were more personable than those loan managers at the bank. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies 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 Jose because he and his father had created a very strong and loyal list of clientele over the years. He knew immediately that there would not be any problems when they were contacted by the factoring company regarding their invoices. His clients would not have any problems, nor would they think poorly of Young Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.
Feeling happier now, Jose stepped out of his office to advise his secretary to expect to receive the contract very shortly from the factoring company. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Young Trucking Company and who knows, move into Canada, which had always been his dream. 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.
View Our Trucking Factoring Companies Videos For More Information
Trucking Factoring Articles
�So It is not a loan?� asked Jimmy Baker, reclining back into his chair and crossing his legs. The woman sitting across the desk from Jimmy smiled at him, shaking her head.�No, not exactly,� she stated.Jimmy 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 Mathew. He named his business George Trucking, named after William and Jerry, his two grandfathers. They had both been hardworking men, and had done a lot to make Jimmy the same.Disaster had struck half a year ago, when two trucks in Mathew�s fifteen truck fleet went down. One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of Mathew's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . In addition, he just did not have the available cash to buy a new truck, plus repair the other one.A big problem a lot of trucking companies came across was how bills were paid in the industry. You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Jimmy wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Jimmy knew she was employed by a Factoring company and that her name was Vicki. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.Vicki 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. This is a win-win situation: we are protected from a total loss, and you're protected from the ridiculous fees and charges you'd have to pay if you borrowed from a bank.Jimmy agreed. It sounded good to him, almost too good.The woman laughed. �You look like you don�t 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.�Vicki nodded. �We get that a lot. Listen, I�d hate to see you lose your company. We know how hard you work, and that you've invested everything in your business. Sometimes you need help. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� said Vicki with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.
Jimmy filled the form out, with Vicki available to help him if he needed it. The completed profile gave Vicki and her company all the information they needed on Mathew's business, and with this information they would determine if this business would in fact be suitable for Factoring. Unfortunately, not all companies are. Some businesses are beyond the help of a Factoring company, while other businesses weren't in enough financial stress to warrant it. Listening as Jimmy filled out his form, Vicki was pretty sure he was a perfect candidate for factoring.When the form was done Vicki took it and slid it into her briefcase. She then stood, reached across the desk and shook Mathew�s hand. He also stood up, and they smiled at each other. Jimmy walked Vicki to the door where they said 'Goodbye', then he went back into his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Vicki though, learning about factoring, it felt like a weight had been lifted from his shoulders. He relaxed into his chair, running his hand through his thick black hair with its telling streaks of grey.The long nights, where he couldn�t sleep. 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.His mind wandered back to the very beginning, when he first started his business. At twenty-two and straight out of school he had opened a restaurant. It had been really 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 long and hard, and then he decided to sell the restaurant. He took six months off, and during that time he decided to create George Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But he couldn�t give up. Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He did not want to quit - both for himself and for his staff members.And now it seemed as though he would not have to - all because of Factoring. Jimmy opened his eyes, sat forward, turned his computer on. He had lots to do. He could be thankful later, for now, it was time to work.
More Trucking Factoring Company Story Articles
The reason why Truck Corporations Employ Factoring Firms.
As the owner of your own business, you may likely be much more than perceptive already of the hardship in making certain that cash flow concerns do not become a predicament down the line. After all, the toughest thing that can quite possibly take place for your firm is to find yourself dragged in a long and hard condition that leaves you forever looking for the money you really need on an continuous basis.
For just about any business in this condition, the concern can come for waiting for work to clear up and actually be paid out into your statement. Invoices, checks, and the like can take a while to actually to be taken care of which could leave you with temporary cash flow troubles. Fortunately, there are opportunities out there for establishments to explore-- and among these is factoring providers.
Factoring firms will, in substitution for your accounts, supply you with the cash money now so that you do not need to fret about the delaying time span that could make paying the expenses and getting materialsmore tough. With this form of setup, invoice factoring can come to be extremely beneficial for many companies who have to get out of a money lure which they have discovered themselves in.
Since, basing on the scale of the work, it can take up to 60 days for many businesses to get paid out then it is necessary to cover your own back and not leave yourself funds short to pay the monthly bills. After all, how many businesses have two months revenue just lying there to deal with all their expenses till they earn?
This is especially true of truck agencies. They tend to manage tons of invoices which means a significant volume of collection period concerns company owner themselves. Seeking to get paid promptly can become an amazing difficulty and this is exactly why you make use of trucking factoring agencies who are pleased to help out truckers exclusively.
As we all understand, trucking is an extremely massive field with plenty of agencies out there working with hundreds of vehicle drivers. The sad thing is, many of these drivers wind up in cash issues given that they are still expecting work from six weeks back to actually pay them. When this is the scenario for a truck agency, depending on factoring companies for support may be the most effective option left.
This signifies that a trucking business can pay off the salaries of the workers, keep all the trucks topped off with gas and continue to go up, progress and expand without constantly waiting for the income which is taking too long to come in. Trucking Businesses running without a factoring program used are leaving themselves at significant danger, as contenders cash out promptly and proceed to expand.
There's absolutely very little to be distressed about when it comes to working with a Factoring company-- they usually are not like a financial institution or a person who is going to leave you with a massive mass of personal debt to repay. You give them legitimate invoices from output you have already wrapped up , you are simply expediting the payment system.
In the Usa, where trucking agencies succeed, factoring enterprises are not considered getting a loan in any capacity. This private deal then makes it possible for both groups to make money and take pleasure in a convenient future-- it gives the factoring provider a guaranteed asset of profit to include in the list and it provides the trucking company the needed funds that they sweated to get.
The trucking establishment provides their invoices to the factoring firm. The trucking factoring agency then take the payments from the trucking company's clients. Factoring has beenaround for hundreds of years and has been used for long times by plenty of different business sectors-- but none more so than truckers. While you could lose out on a small part of the money, something like 1-3 % depending upon who you work with, it indicates that you are getting the finances today and can actually begin putting the resources to perform.
Once and for all, an IOU or an invoice is certainly not going to finance expenditures, is it? For trucking agencies when the money can be very good one day and gone the next, it is up to the drivers to work prudently and to make certain they are leaving themselves with a considerable measure of time and money to get through the week till they are paid for once again.
So the next period your trucking company is enduring some short-term cash flow problems and you are spending a lot of time chasing slow paying clients, why not start looking into employing a factoring businesses as a way to get your finances and give yourself a more pleasant future in the eyes of your trucking team and your bank balance?
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. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. Trucking Factoring companies actually purchase your accounts receivable or at least part of them for a percentage of their total worth, Normally around 80%-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once a Trucking Factoring account has been created for you, it will continue for as long as you need it, with the money available continuing to grow as your business grows, and providing cash as you require it.
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. There is no debt. Since the Trucking Factoring company actually buys your accounts receivable you do not actually incur debt like you do with a bank loan. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. In the event that your business fails, you would not have to be concerned about someone coming after your personal or your business assets in order to pay off a loan. With a bank loan, the debt goes onto your credit report, and even one late payment can adversely affect your businesses credit, and even the ability to get insurance and may even reflect upon your personal credit rating.
2. There's no collateral required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. In addition, while the Trucking Factoring company does run a credit check on your customers whose accounts receivables are offered for financing, the state of your credit is not an issue. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.
3. You'll receive the money faster. Using a Trucking Factoring company means that you'll get the finance quicker. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. 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.Interest is Paid Up Front. Unlike a bank loan that continues to build interest that you have to pay the entire time you have your business loan with a Trucking Factoring company, you do not have to continue to pay interest as they take it right off the top, deducting it from the total amount of accounts receivable. So 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. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The main benefit is that once you've sold your accounts receivable to the Trucking Factoring company, you are free from having to collect money owed by your customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.
In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so 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.