How to Finance a Growing Transportation and Logistics Company Business Articles | April 6 James Conner Jersey , 2013
Do you own a trucking company or trucking brokerage? Read this article to learn how freight factoring can help you finance your company.
The logistics and transportation industry plays an important role as the backbone of the economy. Even in recessionary times, many companies in this industry can do very well if managed properly. One of the main challenges of transportation though is that it can be very cash intensive. Trucking and logistics companies have to pay for drivers, trucks, repairs and fuel. All of these expenses tend to add up very quickly. To complicate matters, most shippers will pay their invoices in 30 to 60 days. This creates a cash flow problem for many companies since they have immediate expenses but a delayed income.
If the company has a big enough capital reserve JuJu Smith-Schuster Jersey , this cash flow gap is not a problem. This is seldom the case though and most transportation companies try to get business financing?to help them grow. Although business loans?and other forms of financing are available to large companies, small companies don't usually qualify for these products.
One alternative solution to this problem that works very well is frieght bill factoring. Basically, it eliminates the payment wait and provides you with the funding to pay your business expenses as you incur them. This gives you the necessary breathing room to pay expenses while you are waiting for your clients to pay their invoices.
Transportation factoring is that is relatively easy to obtain - partly because of how the transaction is structured. Most factoring companies?don't lend money per se. Rather they buy your invoice at a small discount, providing an upfront payment. You usually get around 90% (this varies) upfront, and the reminder 10% (less the discount) once your client pays. Since the transaction is structured as a purchase rather than a business loan T. J. Watt Jersey , the criteria for qualifying are different. For example, since the factoring company?is actually buying your invoices from you, their biggest concern is the credit worthiness of your client. This means that small companies with a good list of clients can usually get this form of business financing.
The cost of freight bill factoring?is usually based on the credit worthiness of your client, the length of time that the invoice is outstanding and your monthly sales volume. Obviously, companies with really good clients Terrell Edmunds Jersey , high volumes and shorter invoice outstanding times will have lower costs.
8 Easy Tips for Cheaper Home Insurance
Posted by nick_niesen on October 29th, 2010
No one likes paying for home insurance, but it's a necessary evil for most of us. This doesn't mean you have to pay through the nose for it though - try these 8 easy tips for cheaper home insurance and see how much you could reduce your premiums by.
- Shop Around
By comparing prices from several insurance companies, you'll probably be able to reduce your premiums by a substantial amount. This may seem obvious, but research has shown that a surprisingly large proportion of people either just renew their current policy Jerome Bettis Jersey , or get only one or two quotes. Many insurance web sites will automatically compare dozens of policies for you, making this one of the easiest ways to reduce your insurance bill.
- Buy online
If you buy your policy online you can often get a discount of up to 20% on normal prices, because there are less administration costs involved and the savings can be passed on to you.
- Combine your buildings and contents policies
Many insurers will give you a discount if you take out both types of home insurance with them, and this usually works out cheaper than getting the two kinds of policies from different companies.
- Pay upfront
Although most insurers let you pay your premium in monthly instalments, many will charge interest for this. If you can afford to pay a full year's premium in advance Cheap Steelers Hats , then this will work out cheaper in the long run.
- Don't claim for small amounts
Making many small claims can increase your insurance costs, as your insurer may see you as a greater risk and increase your premiums. You will also lose any no claims discount your policy has. Of course, you're entitled to claim for anything your policy covers, but ask yourself if making a small claim is really worth the hassle and possible future costs.
- Voluntary excess
This is related to the last point. Insurance policies feature something known as 'excess', which basically means that the policy won't pay out on claims below a certain value. On some policies Cheap Steelers Hoodie , if you choose to raise your excess to a higher level, then your premiums will be lower.
- Increase your home security
Beefing up your home security with better door locks, window locks, outdoor lighting, and alarm systems can all result in lower premiums. Ask your insurer what you could do to get extra discounts.
- Reduce your cover
Many policies feature benefits that you might not need Cheap Steelers T-Shirts , such as cover for personal possessions while travelling, or 'free' legal advice. Look through your policy and see what parts of it you really need - by cutting your cover down to size you may be able to reduce your premium.
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