Factoring Company for Trucking – Allegiant Business Finance #factoring #company #for #trucking



Do you need freight bill financing to keep up with your trucking business?

Factoring your freight bills with Allegiant Business Finance is a great way to provide steady cash flow for your trucking invoices. We buy your unpaid freight invoices and give you instant cash for them!

Any trucking business involves many expenditures that need to be paid before any freight is actually delivered, such as fuel, toll taxes, payroll, shipments, insurance and more. These upfront expenditures can make positive cash flow extremely difficult, which is where Allegiant comes in.

How does Trucking Factoring work?

  1. Haul and deliver a load to a qualifying credit-worthy customer
  2. When delivered, fax bills of lading to Allegiant
  3. Within 24 hours Allegiant will wire or direct deposit funds into your bank account
  4. Upon payment from your customer, you will receive the balance due you, less our factoring fee

Competitive Allegiant Advantage

Allegiant Business Finance is well equipped to offer customizable trucking factoring solutions, including:

  • No sign up fees
  • No volume requirement
  • No credit score minimum
  • No monthly fees
  • Low, competitive factoring rates
  • Recourse/Non-Recourse options available
  • We support 90 days and in some cases up to 120 days terms
  • Fast and reliable funding in 24 hours or less
  • No long-term contracts or termination fees
  • FREE credit checks and self-funding
  • 24 hour online account management
  • Financing services available in the USA and Canada

Factoring Company for Trucking

Same-day funding makes factoring the ideal solution for trucking companies. Selling your receivables to Allegiant provides reliable and steady cash flow, helping you shift your business forward into high gear. Advantages of using Allegiant Business are plentiful, including:

  • Factor invoices from $30,000 to $3,000,000 or more, and in 24 hours Allegiant provides the highest value for your freight invoices at the lowest cost.
  • We offer our factoring services to all kinds of trucking businesses. Whether you are handling 5 trucks or running a 200-truck business, Allegiant can improve your business system and make you more successful.
  • Professional collections on factored invoices.
  • A highly experienced account rep to help manage your accounts.
  • We work with both startup and established trucking companies.
  • We finance both commercial and government invoices.
  • Allegiant Business Finance funds upon receipt of faxed or emailed copies of your original bills and invoices. You do not need to wait for your originals to be received and mailed to Allegiant prior to receiving funds. With Allegiant, you just fax or email your invoices and backup to us, then mail them directly to your customer. This saves you time and the cost of sending your original invoices and bills of lading via overnight mail to us.

Why Choose Allegiant Business Finance?

As soon as the load is delivered, you get paid and can work on securing the next load (and the load after!), without having to worry about cash flow.

At Allegiant Business Finance, instead of providing a lot of extra bells and whistles that end up being extremely costly for you (our customer!), we simply factor your invoices. We feel this will be in many truckers best interest and trucking companies that have gone with Allegiant have expressed a desire for a simpler trucking factoring solution and a thankfulness that we provide it. Your success is our success.

Trust Allegiant Business Finance for an overhaul to your trucking business’ cash flow. Take us for a test drive and get a free quote.

Call us at 866.377.0800 to get the cash you need today by TRUCKING FACTORING with Allegiant Business Finance.

Factoring financing, factoring financing.#Factoring #financing



Factoring financing

Factoring financing

What is a ‘Factor’

A factor is a financial intermediary that purchases receivables from a company. A factor is essentially a funding source that agrees to pay the company the value of the invoice less a discount for commission and fees. The factor advances most of the invoiced amount to the company immediately and the balance upon receipt of funds from the invoiced party.


Factoring Operations

The terms and conditions set forth by a factor may vary depending on their own internal practices. Most commonly, factoring is performed through third party financial institutions, referred to as factors. Factors often release funds associated with newly purchased accounts receivable within 24 hours. Repayment terms can vary in length depending on the amount involved. Additionally, the percentage of funds provided for the particular account receivables, referred to as the advance rate, can also vary.

Factoring is not considered a loan, as neither party issues or acquires a debt as part of the transaction. The funds provided to the company in exchange for the accounts receivable is also not subject to any restrictions regarding use.

Example of Factoring

Assume a factor has agreed to purchase an invoice of $1 million from Clothing Manufacturers Inc., representing outstanding receivables from Behemoth Co. The factor may discount the invoice by say 4%, and will advance $720,000 to Clothing Manufacturers Inc. The balance of $240,000 will be forwarded by the factor to Clothing Manufacturers Inc. upon receipt of the $1 million from Behemoth Co. The factor’s fees and commissions from this factoring deal amount to $40,000.

Note that the factor is more concerned with the creditworthiness of the invoiced party – Behemoth Co. in the example above – rather than the company from which it has purchased the receivables, Clothing Manufacturers Inc. in this case. Although factoring is a relatively expensive form of financing, factors provide a valuable service to companies that operate in industries where it takes a long time to convert receivables to cash, and to companies that are growing rapidly and need cash to take advantage of new business opportunities.

Government Factoring #government #contract #factoring



Getting a government contract can be a game changer for any business. Federal, state, and local government agencies contract out a significant portion of its work to private companies. Whether you manufacture products or provide a service, getting a contract from the government usually means consistent work and stable, recurring revenue.

There is one big challenge that can come with a government contract, though. If you have experience with government contracts, you probably know this challenge all too well. If you just earned your first government contract, you ll learn about this issue soon enough.

The federal government is in no hurry to pay your invoice. It s not unusual for the government to take 60 or even 90 days to pay a bill. Also, don t expect to get an advance from the government before you start the work. The government can choose from any number of other suppliers, so they re not likely to meet your demands for any portion of upfront payment.

Similarly, you ll find that you don t have much leverage when you ask the federal government to pay your invoice. If you threaten to withhold work until they pay, they ll likely take their business elsewhere.

Government contracts are a double-edged sword. They can provide you with a big boost in work and revenue, but they can also put you in a very difficult cash flow situation. You likely need to pay workers and contractors to do the work for the government job at potentially prevailing wages. You may need to pay for materials and for overhead. And you won t receive any payment for those efforts until months after the work is complete.

Fortunately, you have options available. One effective solution is government contract factoring, which allows you to get cash upfront for your government contract so you can pay your vendors and your employees.

How government contractor factoring works

Receivable factoring is a funding solution that helps businesses resolve their cash flow challenges. In a standard factoring solution, a business enters into an agreement with a factoring company to provide funding for an unpaid invoice.

The factoring company advances a percentage of the outstanding invoice balance, often 85 percent. The business gets that money immediately and can use it as they wish. The factoring company then collects the payment directly from the government. The factoring company keeps the amount that it advanced plus a small processing fee. The remainder of the payment is forwarded on to the business.

There are several attractive aspects to factoring. One is that you get your money immediately, often within a couple of days.

The second is that the factoring company usually isn t interested in your own credit history. Rather, they re more interested in whether your customer will pay in a timely manner. That means that if your business has little credit or even bad credit, factoring can still be an option for you.

Of course, not all factoring companies will make advances on government contracts. They may not have knowledge or experience to properly collect from the government agencies. They may not have the capacity to wait 90 days or more for payment. If you think factoring could be a good solution for you, it s important that you work with a company who knows how to handle government contracts.

Factoring government receivables with Gateway Commercial Finance

At Gateway Commercial Finance, we have extensive experience advancing on contracts with federal, state, and even local government agencies. We understand their payable procedures and we know how to work with them to collect payment.

In our years of working with government contracts, we have advanced on invoices to many different departments and agencies, including:

  • Department of Defense.
  • Department of Homeland Security.
  • Department of Energy.
  • Public safety agencies, like police and fire.
  • Department of Transportation offices in a number of states.
  • And much more.

Our government contractor factoring program can provide you with between 72 and 90 percent of your invoiced amount within just a few days. We offer competitive rates, sometimes as low as one percent for the first 30 days.

We have also worked with clients in a wide range of industries, including:

  • Service providers.
  • Manufacturers.
  • Temporary staffing.
  • Seafood and perishables.
  • Transportation and trucking.
  • Distribution.
  • Construction.
  • Technology.
  • And more.

If you don t have cash, you don t have a business. Cash is that important to your business. It s your lifeblood. Your government contract should be a foundation of revenue and business upon which you can grow your company. It shouldn t put a stranglehold on your cash flow and your ability to operate.

Let us help you overcome your cash flow challenges and handle your government contract with confidence. We have the knowledge, experience, and ability to get you the cash you need and also handle the collection effort from the government agency.

Contact us today to get the process started. We welcome the opportunity to help you grow.

Invoice Factoring Sub-Specialties

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Factoring Calculator Online #factoring #calculator #trinomials


Factoring different polynomials and some more complex expressions could be a really hard and tough task, but not anymore! In the age of computers, everybody can use them for anything, including factoring polynomials like this one for instance: f(x)=ax 8 -bx 5 +cx 4 -45x-78. Here is a nice:

About The Factoring Polynomials Calculator Below

You can use it to find the prime factors of any equation. It is Continue reading

How to factor quadratic equations? From now on, this will be as easy, as a walk in the park. You will not need to use any complicated quadratic formulas (If you don t wish to), to find the roots of a quadratic formula and be able to factor it. The only thing you need now is just access to this page, where you can use our quadratic factoring calculator. You can Continue reading

So, What Is a Prime Number?

Every prime number is a positive whole number that has only 2 and no more divisors the number itself and the number 1 . This is the most simple definition! To understand it even better, please check the following examples:

3 is a prime number, it is positive and round and it can be divided by only two numbers Continue reading

Factoring Trinomials

Use this online calculator to factorize any trinomial. Enter your expression and after pressing the button, you will see its simplest form. You need to fill the parts of your trinomial separately. See the sample data entered. The symbol ^ means grading. You should use it in your expression. Sometimes there may be alternate forms of the factorized expression, you will be able to see Continue reading

Use our prime factorization calculators to factorize anything you would like! Here on this site you can find many different types of tools for factorization. Please, use the main menu to browse our online widgets categories. In many cases, if not the most, you might be looking for the following:

Prime Factorization Calculator

Where had this tool been, when I was in high school! This is one amazing online equation solver, which you can use to solve almost any mathematical formula. Still wondering what this is? Just put an equation in the form and hit the button I bet you will be amazed. This tool will completely solve it, will show you the graph of its function and many other useful information. Continue reading

This is a simple calculator which you can use to see the prime factors of any number you wish. It s extremely intuitive, I think, so I wouldn t explain its use. Just throw your number and hit the button That s it! The widget will make its calculations and will return all of the prime numbers (if any) that your input consists of.

Prime Factors of a Number

This trigonometry calculator is a really cool tool you can use to solve trigonometric equations and expressions. You can use it to solve your math homework or for any other purpose you need. The tool is really simple to use and yet really powerful, too. You can start using it right away, just see the example expression and follow the pattern. Use the trigonometry buttons on the calculator to enter Continue reading

Recently, while I was browsing around the Internet, I came across a very nice script this cool algebra problem solver below. It is a javascript application created by vortex.com, which can easily and quickly solve complex math expressions. You just need to enter the expression into the first (bigger) field and click on the SOLVE button. In the second field you will then see the solution of your math Continue reading

This is a site about mathematics, and we are not only trying to make it useful, but also a little bit funny and entertaining. So if you are tired of factorization and other math stuff, you can take a break and play some cool math games online. We ve found a great site, dedicated entirely to mathematical games.

Cool Math Games

3 Ways to Account For Factoring #start #a #factoring #business


How to Account For Factoring

If you run a small or mid-sized business and extend credit to your customer, then you are obliged to wait for payment until the stipulated credit period is over. Factoring your receivables can bring immediate cash to augment your working capital without increasing your debt burden. This option is especially helpful if your customers demand long credit periods. To factor means to sell accounts receivables to another company, called a “factor.” The factor will advance you a major portion of the receivable amount, retain the rest until the account is paid, and then charge you the mutually agreed fee, generally from three to 10 percent. Factoring can be performed with or without recourse, meaning either the buyer assumes full responsibility in the event of nonpayment, or the seller takes some responsibility. Both the process of factoring receivables and reflecting the transactions in the account books may seem to be very complex. By following these steps, you can easily account for factoring.

Steps Edit

Method One of Three:
Factoring on a Non-Recourse Basis Edit

Negotiate an agreement with the factoring company. You will want to know what percentage of the receivables they will advance to you in cash, and you will want to know what their service fee is. On a non-recourse basis, the factoring company must take full responsibility if the accounts aren’t paid, so they will charge a relatively high fee.

  • The percentage the factoring company will give you depends on the quality of the receivables (Home Depot vs. Joe Blow) and historical data on how long it has taken to collect payments. [1]
  • Major factoring companies include 1st PMF Bancorp (who will also provide international factoring services), American Receivable, and BlueVine.

Sell and record the receivables. After selling your accounts receivable to a factoring company, you will need to record the transaction in the appropriate journal entry. For example, imagine you sell $10,000 worth of receivables to a factoring company that offers you an 80 percent cash advance and charges a 10 percent fee. (Note that these calculations will work equally well in other currencies.)

  • To record the journal entry, debit Cash for $8000, debit an account called Due from Factor for $1000, and debit Loss on Sale for $1000. Credit Accounts Receivable for $10,000. [2]
  • Due from Factor is an asset account, and is used to indicate the amount that the factor will pay you upon collecting the accounts in full. The factor’s service fee is recorded as a loss in the Loss on Sale account.

Record a journal entry when the accounts are collected. When the factoring company is paid, they will pay you the retainer. In the previous example, the journal entry would involve debiting Cash for $1000 and crediting Due from Factor for $1000. [3]

Record a journal entry if a customer defaults. If the customer does not pay the amounts owed, you will not receive the retainer back from the factoring company and will have to record a loss. Using the previous example, imagine the accounts are not collected. To record the journal entry, debit Loss on Sale for $1000, and credit Due from Factor for $1000. [4]

Method Two of Three:
Factoring on a Recourse Basis Edit

Negotiate an agreement with the factoring company. Just like factoring without recourse, you want to know how much of a cash advance you will receive, and you want to know what fee you will be charged. When factoring with recourse, your company is liable if the accounts can’t be collected. Because of this, you have to record a liability upon sale of the receivables called a “recourse liability.”

Sell the receivables, and record the appropriate journal entry. For example, imagine you sell $10,000 worth of receivables to a factoring company that offers you an 80 percent cash advance and charges a 2 percent fee. Based on historical data regarding your receivables collections, you estimate that the recourse obligation is worth $500. This means you expect that about $500 of these accounts will not be collected, and you will have to record the associated loss.

  • To record the journal entry, debit Cash for $8000, debit Due from Factor for $1800, and debit Loss on Sale for $700. Credit Recourse Liability for $500, and credit Accounts Receivable for $10,000. [5]
  • The Loss on Sale account now includes both the factor’s fee and the expected loss due to doubtful accounts. In keeping with the conservatism principle of accounting, the loss is recognized even before it is incurred. A gain will be recorded later if the accounts are actually collected.

Record the journal entry when the accounts are collected. When the factoring company is paid, they will pay you the retainer. In the example above, assume all the accounts are collected. To record the journal entry, debit Cash for $1800, debit Recourse Liability for $500, credit Gain on Sale for $500, and credit Due from Factor for $1800. [6]

Record a journal entry in case of customer default. If some of the accounts are not paid, you must buy those accounts back from the factor. In the previous example, assume that $9500 of the accounts was collected and $500 defaulted. To record the journal entry, debit Cash for $1300, debit Recourse Liability for $500, and credit Due from Factor for $1800. [7]

Tips Edit

Although factoring operates on similar principles in different countries, the exact journal entries will differ based on each country’s reporting standards. The examples above are consistent with U.S. Generally Accepted Accounting Principles (GAAP). However, you must find out and follow the standards applicable to you.

Your customers may have reservations about making payment to a third party. Take them into confidence, preferably at the time of accepting their order and reveal that you intend to engage a factor to collect payment. However, you may be able to negotiate this with the factor so customers continue to make payments to you. [11]

Be sure to notify your customers when their accounts have been factored as they will be paying their invoices to the factoring company, not to you, unless you have negotiated this term away with the factor. [12]

Get feedback from your customers on the style, conduct and behavior of the factor.

Advance Business Capital Grows Full Service Factoring with the Addition of Lopez-Hammer and Winters #advance


Advance Business Capital Grows Full Service Factoring with the Addition of Lopez-Hammer and Winters

Advance Business Capital, member of the Triumph Bancorp, Inc. group and provider of full service factoring to the transportation industry, today announced the addition of seasoned veterans Adriana Lopez-Hammer and Kimberly Winters to its management team.

Adriana and Kimberly are both experienced professionals who will help Advance Business Capital continue proving ourselves as leaders in the transportation factoring industry.

Coppell, TX (PRWEB) November 15, 2012

Advance Business Capital. member of the Triumph Bancorp, Inc. group and provider of full service factoring to the transportation industry, today announced the addition of seasoned veterans Adriana Lopez-Hammer and Kimberly Winters to its management team.

Since our acquisition by Triumph earlier this year, ABC has become bigger, better and stronger, said Steven Hausman, President of Advance Business Capital. Adriana and Kimberly are both experienced professionals who will help Advance Business Capital continue proving ourselves as leaders in the transportation factoring industry.”

Adriana Lopez-Hammer brings more than 16 years of commercial lending experience to Advance Business Capital. She will serve as vice president, business development for the Southwest Region and will focus on originating working capital lines of credit within the transportation industry. Prior to joining Advance Business Capital, Ms. Lopez-Hammer served in various roles, including portfolio management, process management, underwriting and business development within CitiCapital, GE Capital and TAB Bank’s commercial lending groups. She is currently serving on the Executive Board of The Hispanic 100 and is Chair of The Concilio, an organization dedicated to increasing parental involvement in children’s education and health. Previously, she served on the Executive Board of Head Start of Greater Dallas. Ms. Lopez-Hammer is a member the Women’s Finance Forum, Louisiana Motor Transport Association, Arkansas Trucking Association, the Penn Latino and Leadership Dallas Alumni clubs. She received a Bachelor of Science in Economics from the University of Pennsylvania Wharton School of Business.

Kimberly Winters brings more than 13 years of accounting and underwriting experience to Advance Business Capital and will serve as vice president, underwriting with a focus on managing the underwriting department, due diligence process and portfolio risk management. Prior to joining Advance Business Capital, Ms. Winters served as underwriter, account manager and legal research/administration for Greystone Commercial Services LP. Her responsibilities included the underwriting of credit application packages, the investigation of creditworthiness of account debtors, and the evaluation of prospects financial strength. As account manager, Winters provided daily collateral review, fund processing and risk analysis. She was also responsible for the completion of all closing documents for counsel’s review.

Ms. Lopez-Hammer has an excellent reputation and extensive experience in originating working capital lines of credit in the for-hire carrier industry. Ms. Winter s knowledge and understanding of accounts receivable financing for small to medium size business is outstanding. Lots of good people know how to get things started, but these two professionals are exceptional at getting things done. Our customers will be the ones who benefit most from their joining our team, added Hausman.

About Advance Business Capital
Advance Business Capital, one of the dominant players in American freight factoring, became a member of the Triumph Bancorp, Inc. group in January 2012. In addition to its principal service of purchasing Accounts Receivables for trucking companies, Advance Business Capital stands out from its competitors by offering a comprehensive suite of “back office” services that lift a heavy accounting and paperwork burden from small to midsized trucking companies. These services include billing and collection, credit checks, break-even analysis, business training and fuel card purchasing management.

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I Want to Teach Forever: Four Fun Ways to Review Factoring Trinomials #factoring #texas


This week in Algebra I, we’re studying how to factor trinomials. The kids have done really well so far, so I just want to review tomorrow and build their knowledge and confidence heading into a quiz on Friday.

I thought about revisiting my FOIL bingo game from two weeks ago, which the kids found difficult at the time because I was really asking them to un-FOIL. Their bingo cards contained factors, and the call sheet contained the trinomials, so if they had known then what they know now, it would’ve been a breeze. I’m leaning towards not using it so as not to wear out the novelty of the game. I’d like to have it in my arsenal for later in the year.

Instead, a little online research turned up four fun review games for factoring trinomials:

  1. Factoring Cut-Out (PDF) – Students cut up a sheet of sixteen cards that have a mix of factors and trinomials (and a few other polynomials) written on all four sides. They have to rearrange the cards so that each trinomial lines up with its correct factor. The coefficient of “a” is one for all of the trinomials, so this should be fairly easy. I’m definitely using this one tomorrow!
  2. “I Have. Who Has. ” Factoring (Word) – Essentially a matching game, students would have to work cooperatively in a large group in order to match each trinomial to its factor. You could adapt this by deleting “I Have” and “Who Has” from each card and making this a straightforward matching game. or by having small groups play a “Go Fish” type of card game.
  3. Algebra Connect Factoring Game (PDF) – It looks simple enough to set up and play, but you would need several pairs of dice.
  4. Factoring Puzzle (PDF) – This is similar to Factoring Cut-Out, but there are two different versions to play. There’s a ton of related materials on the Henrico County Public Schools Algebra 1 website .

The first three games are from ILoveMath.org. a math lesson database that I explored for the first time today. The site has a small but seemingly high quality collection of free resources and activities all uploaded by teachers. One warning: I found the site’s built-in search completely useless–I couldn’t even find the activities listed above when searching for their exact titles. Instead, search the site via Google by adding ” site:ilovemath.org ” before your desired terms.

Share links to your best resources in the comments!

Homepage – Invoice Factoring by CJM Financial #factoring #companys


Family Owned Since 1993

We started out small, maybe like you, as a family-owned company in 1993. Since that first day in the basement of our home, we have continued with our long-term commitment to customer satistaction success to help our business grow, prosper, and continue as a multi-generational enterprise. Dreams like this can be yours too. Start factoring today and become a partner with CJM Financial so that your business can become just as successful!

Why Factor? Why CJM?

  • Fast Cash/Free Same-Day Funding
  • Increase Working Capital
  • Saves Time
  • Big company benefits while maintaining CJM’s family-owned values of honesty, experience, and superior customer service.
  • CJM aims to protect your business from delayed funding and bad debtors.

Immediate Long-Term Benefits

Let us be your First in Factoring to provide immediate cash flow so that you can enjoy the future growth and success of your company.

You provide the invoice and we collect so you can continue to work on your business right away. Credit checks and quick availability to an account manager are the perfect partnership to protect your business. Click here to partner today.