New to Factoring?

For those who aren't familiar with factoring, it is basically a fast way to get cash to run your business.

Factoring is Not a Loan

When you send your customers an invoice, they usually have 30 days to pay you back. Factoring companies will give you the bulk of the cash up front, sometimes within 24 hours, and collect the payments from your customers themselves. Once the invoices are paid in full, you’ll get the balance left over, minus a small fee.


Factoring Doesn't Require Debt

Sounds simple enough – fast cash for your business – no loans, no debt.

So how do you go about choosing the best factoring company?

Not all of them are created equal. Not all of them will give you the same level of service you need to help grow your business.

Everyone claims they have the simplest rate structure in the industry, no long-term contracts, same day funding, no up-front fees, no monthly minimums or maximums, etc., etc., etc.

We also offer these same benefits, but we GO THE EXTRA MILE FOR YOU that other factoring companies don’t.

Here’s Why We Are The Factoring Company You Need For Your Business

No other factoring company matches our level of superior service and offerings.


As you can see, we simply have more to offer you.

Other factoring companies don’t even compare.
Albuquerque

And Not All Factoring Companies Can Say This:

More than half of our new business comes through client referrals.

So, Can Your Company Use Factoring?

Of Course! Companies of all sizes, from small privately-owned companies to large multi-national corporations, use factoring as a way to increase their cash flow. Factoring spans all industries, including trucking, transportation, manufacturing and distribution, textiles, oil and gas, staffing agencies and more.

Companies use the cash generated from factoring to pay for inventory, buy new equipment, add employees, expand operations—basically any expenses related to their business. Factoring allows a company to make quicker decisions and expand at a faster pace.

Unlike a bank loan, factoring has…

  • No principle or interest to pay over time
  • No debt to repay
  • Unlimited funding potential – no caps
  • Fast funding – no waiting months like at a bank
  • Approval is based on the strength of your clients, not your credit
  • Startups are welcome in using funding services

Some of the benefits you receive with factoring are:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Information for the city of Albuquerque

"

Albuquerque lies at the center of the New Mexico Technology Corridor, a concentration of high tech private companies and government institutions along the Rio Grande. Larger institutions whose employees contribute to the population are numerous and include 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. man is located along I 25 in northeast Albuquerque, and Pedic is located on the West Mesa next to I 40.The solar energy and architectural design innovator located his company, works, to the region in the late 1960s; and Los Alamos National Laboratory, Sandia, and Lawrence Livermore National Laboratory cooperate here in an enterprise that began with the Manhattan Project.

 

In January 2007, opened an 800,000 square foot (74,000 m2) mattress factory in northwest Albuquerque. ., announced in January 2008 they will open a 200,000 square foot (19,000 m2) facility manufacturing receivers for concentrated solar thermal power plants (CSP) and 64MW of photovoltaic (PV) modules. The facility closed in 2012. Magazine rated Albuquerque as the best city in America for business and careers in 2006 and as the 13th best (out of 200 metro areas) in 2008. The city was rated seventh among America's Engineering Capitals in 2014 by Magazine. Albuquerque ranked among the Top 10 Best Cities to Live by & World Report in 2009 and was recognized as the fourth best place to live for families by the TLC network. It was ranked among the Top Best Cities for Jobs in 2007 and among the Top 50 Best Places to Live and Play by National Geographic Adventure magazine.

 

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Information for the state of New Mexico

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, pinon 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

 

With a Invoice Factoring service like us you don't need to wait for cash.  

Invoice Factoring is when a third party commercial finance company purchases the Invoices or Accounts Receivable from a business. -Invoice Factoring Companies In New Mexico

 

 

FIVE FAMILIAR CASH FLOW TROUBLES WHICH DO YOU WANT TO OVERCOME?  

Invoice Factoring Companies In New Mexico Articles

"

The Basics of Trucking Invoice Factoring

 

Whether you’re the owner of a 50-truck fleet or an independent owner/operator, we all know that controlling your cash flow is vitally important to growing your business. Perhaps like many business owners you’ve become pretty clever at making creative use of your credit cards, because it’s certainly preferable to going to your banker and begging for a business Line of Credit! Fortunately, there is another viable option for owner-operator businesses and small trucking fleets. The answer to the age-old cash flow problem is Freight Bill Invoice Factoring!

 

If Freight Bill Invoice Factoring is an unfamiliar term to you, then here’s a brief explanation:

 

Freight Bill Invoice Factoring is the simple process of assigning your unpaid freight invoices to a third-party company (Invoice Factoring company) for an amount that’s less than you would receive if you were to bill your customer direct. The bonus of Freight Bill Invoice Factoring is that it enables you to get paid almost immediately upon completion of a run, thus giving you access to much-needed cash required for the day-to-day running of your business operations.

 

Here’s a step-by-step explanation of how Freight Bill Invoice Factoring, or Trucking Invoice Factoring, works :

 

Once you’ve booked a load, you immediately email or fax details about the load, your customer, and your rate confirmation to the Invoice Factoring company;
The Invoice Factoring company will quickly respond by advising if that particular customer has been approved for load Invoice Factoring;
You pull the load;
When the load has been delivered, you email or fax your load-related documents, including the Bills of Lading, to the Invoice Factoring company;
Within 24 hours the Invoice Factoring company will make a direct deposit into your Comdata account or your bank account for the amount of approved charges: this could be anywhere between 60 and 90% of your billing;
Once the invoice has been paid by your customer, you’ll receive the balance.
It’s true that Freight Bill Invoice Factoring is not for everyone, but it is an ideal way of accessing the cash you need to provide stability to your trucking business and keep your wheels turning whilst you wait for your customers to pay their accounts.

 

Obviously, the best option for any business is to invoice your customers directly and wait to receive payment, but unfortunately many customers are painfully slow when it comes to paying their invoices. If you’re experiencing a cash flow problem, then working with a Invoice Factoring company could well provide the financial cushion you need to keep your trucks on the road. It’s up to you to do your own research and determine whether Invoice Factoring makes sense for your business. We trust that the information we’re providing here will provide you with enough knowledge to help you make a wise decision.

 

The Cost of Freight Bill Invoice Factoring

 

As explained above, there’s a cost involved with Freight Bill Invoice Factoring, and it’s up to you as the business owner to determine whether it’s worth the cost. The cost of Trucking Invoice Factoring can vary from as little as 1.5% up to around 5% of the line haul revenue.

 

You also need to be aware that there could be a number of fees, charges, and other expenses if you employ the services of a Freight Bill Invoice Factoring company. Generally, when you’ve assigned your Bills of Lading to a Trucking Invoice Factoring company, you’ll receive an immediate advance of between 60 and 90% of the anticipated revenue: of course, this figure will depend upon the Invoice Factoring company you use. Once your customer has paid their invoice, the balance will be remitted to you.

 

It’s also important to note that all Freight Invoice Factoring companies are not equal, so here are some key questions a business owner should ask when considering hiring the services of a Trucking Invoice Factoring company:

 

Recourse or Non-Recourse: Which Freight Invoice Factoring Service Do You Provide?

 

You may not be familiar with these terms, but you need to be, because the ramifications of not understanding these terms could seriously affect the profitability of your business.

 

Recourse Invoice Factoring means that, should your customer fail to pay the Invoice Factoring company, the Invoice Factoring service can come back to you for reimbursement; while

 

Non-Recourse Invoice Factoring means that you have your money whether the invoice does or doesn’t get paid.

 

Will You Bill My Customer for All Future Loads or Can Invoice Factoring Be Done on a Load-by-Load Basis?

 

Let’s say you have a temporary cash shortfall problem that you’re trying to resolve by hiring the services of a Freight Invoice Factoring company: many businesses require that the factor handle all future collections owed to you by that specific customer. However, depending upon the customer, this may not be the path you wish to take. You should be aware, though, that some Invoice Factoring companies are very rigid with this requirement.

 

There are Freight Bill Invoice Factoring services out there that allow you to choose on a load-by-load basis as to whether you’d like them to handle the collection on your behalf or whether you prefer to deal with the process of billing and payments yourself. And these services generally let you decide whether you want to receive payment when the invoice is actually paid or whether you want immediate payment. This can be very useful for small businesses because it can save a lot of time by allowing you to use the Freight Invoice Factoring service as a kind of de-facto billing service.

 

Is There a Price Difference If the Invoice Factoring Company Bills a Customer for All Loads Pulled?

 

Some Freight Invoice Factoring companies require that all billings originate through them, while others allow you to decide on an invoice-by-invoice basis whether you want the Invoice Factoring company to do it, or whether you’d prefer to bill your customer yourself. If you choose to use their services on a spot-usage basis and choose not to have a certain invoice factored, you’ll probably still have to pay the $15-$20 billing charge. You’d then receive payment once the customer has settled their account.

 

Are Extra Fees Payable for Additional Services?

 

It’s not usual for a freight Invoice Factoring company to automatically pay your customer’s invoices: they need assurance that your customer is a reliable, good-paying customer, so they’ll typically require a credit check to ensure they’ll be paid. Most Freight Invoice Factoring companies will arrange for a customer’s credit check on your behalf, and this credit check could incur a nominal fee. On the other hand, there are Invoice Factoring companies out there that are happy to provide you with access to a list of customers that are already pre-approved – these are companies that currently meet the factor’s credit requirements. This can be very useful information to a trucking company, particularly if you need to know the credit rating of a prospective customer prior to booking a load.

 

How Much of the Freight Bill Do You Advance; and Do You Require a Deposit?

 

It’s very rare that a Freight Invoice Factoring service will advance 100% of your freight invoice, and that’s just one of the reasons why it’s imperative that you take the time to do your own research and find out what your chosen Invoice Factoring company’s policy is. You also need to know if this will change from load to load or if the same policy applies to all your customers and all freight bills. p> 

Regarding deposits, some freight Invoice Factoring services do require deposits, while others don’t. Again, before you finalize any contract with a Trucking Freight Invoice Factoring company, be very sure that you know exactly what you’re signing up for. p> 

 

"

 

FredCoutts.com

 

Truckingfactors.org

 

 

 

 

You Can Find More Information at  http://invoicefactoringservices.org
and at www.factoringinvoicediscounting.org

Call Us Today at: 1-888-266-0197

 

Watch our Factoring Company Video below to see how we work for you.

 

 


 

Get MONEY NOW for your outstanding receivables.

 

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