Monday, March 31, 2010

Factoring Saves Texas Based Trucking Company

Can you imagine working really hard to make ends meet and cutting costs everywhere to make yourself profitable and your get a registered letter in the mail from your bank demanding their Line of Credit to be paid off within 14 days?

This is a real event for a Texas based Freight Carrier recently. After a brief panic attack, the CEO called his bank and the account manager told him that due to revisions of the banks risk structures are laid out, he has no choice but to pull the financing. He has 2 weeks from the receipt of the letter to repay the loan of $1.0 million. Upon dealing with a Professional Commercial Finance Broker, not only was the loan paid off at the bank on time, but the trucking company had a new Line of Credit of $1.75 million now.

This has happened many times to many different companies in the United States and Canada over the last couple of years. As much as President Obama is working to make funding available to companies for their operations, banks still are contracting their risk threshold and are less willing to expose themselves to risk every day.

Most companies do not need more debt; they usually have enough of that. What they do need is cash flow. If this sounds similar to your situation, please, speak to a Commercial Finance Broker. They are trained professionals whose career is based on keeping on top of the new finance options coming out and knowing which lender does what deals the best.

Be aware though, not all lenders are created equal, even if they do the same thing, not all Commercial Equipment Lenders are best for all equipment and business types. They have their strengths. Just like your company. Your company is the best at certain things, but in others, that is not your focus so you can do the other stuff, but you are far better at your main product or service.

Commercial Finance Brokers are up to date with the latest changes and options available. Many Commercial Finance Brokers can handle Financing options ranging from Accounts Receivable Factoring, Purchase Order Finance, Export Finance, Commercial Equipment Loans or Commercial Mortgage.

Pro-BargainHunter.com Multiple Pre-Screened Vendors competing for your business Commercial Factoring Discounting Factoring

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