Questions to Ask a Freight Factoring Company

Thinking of partnering with a freight factoring company? A positive cash flow can have a huge impact on your business. Not only will you be able to take on more clients and larger deals, but you will also be able to ensure that driver payments, payroll, fuel and all your other expenses are always paid … Continue reading “Questions to Ask a Freight Factoring Company”

Thinking of partnering with a freight factoring company? A positive cash flow can have a huge impact on your business. Not only will you be able to take on more clients and larger deals, but you will also be able to ensure that driver payments, payroll, fuel and all your other expenses are always paid on time.

If you’ve already decided you are going to partner with one of the freight factoring companies in your area, then you need to start researching the various companies to determine who will provide the best service to you. Here are a few questions to ask to make sure you get a value for money service:

What happens if my clients don’t pay?

This is an important question because it can put you in a difficult position if you have to pay for outstanding bills from clients. Find out if the factoring company handles debt disputes and what their normal procedures are when trying to claim back money from clients.

Do I get to choose which invoices I factor?

In some cases, you might have weekly loads which you bill and your clients pay each week. In this case, you might not necessarily need a factoring company to factor the invoices for you. You might only need factoring services for larger loads which only get paid after 30, 60 or 90 days. Find out if the factoring company will allow you to decide which invoices you want to factor or if you have to hand over your entire client book.

What kind of extra services do you offer (and what do I have to pay for?)

Factoring and bank loans are very different in a number of ways, but one of the most prominent differences is the fact that banks research businesses to determine whether they are creditworthy, while a factoring company will research your clients to determine whether they are creditworthy or not. Freight factoring companies will either do a credit check on your clients to ensure they are capable of paying the invoices, or they will give you a list of pre-approved clients which meet their credit requirements. Find out what process they use to determine whether clients are creditworthy and whether you will have to pay extra for this vetting process.

What percentage of the invoice will you advance?

Many times, a freight factoring company will advance a certain percentage of the invoice (such as 80%, 90% or even 100%) and the rest of the amount only gets paid once the client has paid the outstanding invoice in full and their service fee has been deducted. Make sure you know what percentage gets paid to you in advance.

Want to find out if our freight factoring company’s service will work for you? Get an instant factoring quote now.

Interstate Capital’s factoring programs include a long list of unique features including rates starting at just 0.49% per invoice, advance rates up to 100%, same-day funding, 24/7 automatic credit approvals, fuel advances (for motor carriers), professional collections, and much more.

Set-up is always fast and easy. There is no application fee and most companies will qualify for an instant online proposal in under 2 minutes just by completing the Instant Factoring form on this page. If you like what you see in your proposal, just click on the application link in your proposal and you’re on your way to fast funding.

Suicide Risk

According to Alberta Health Services, this province has a higher rate of suicide than the national average. In fact, suicide is a leading cause of death in Alberta surpassing motor vehicle collisions, AIDs and homicides.

Most people don’t have a lot of training or experience with suicide. As a result, a great deal of fear and helplessness can accompany the thought that someone might be suicidal. There are several things that you should know about suicide:

1. Treat every threat as serious – Never ignore, minimize or promise confidentiality when someone talks about suicide. Listen carefully and do not interrupt.

2. Think about warning signs – Has the person been faced with a difficult situation recently such as a job loss, unplanned pregnancy, divorce or health problem? Do you notice any changes in their mood, sleep, appetite, or participation in activities? Are they giving things away? Do they seem pre-occupied with death?

3. Consider the history – Have there been suicide attempts or incidents of self-harm in the past? Were there friends, relatives or role-models of the individual who committed suicide?

4. Ask the question – If someone “hints” or implies that life is not worth living ask “Are you suicidal?”

5. Don’t make assumptions – People who commit suicide might never have suffered from mental illness. Most individuals who have suffered from mental illness are not suicidal.

6. Assess the risk level – Some people have thoughts of suicide when life is overwhelming but do not have any intention of following through. Their statement may be a “cry for help”. Support and problem-solving options might be what they really need.

7. Determine if there is a plan – Ask questions about what the person might be considering. Be direct and get very specific information about what they are planning to do. Medium risk involves having thoughts, impulses and a plan.

8. Find out if they have the means – Does the person have opportunity to access what they need to fulfill their plan? If so, they are high risk. Do they have a gun, pills, a vehicle or other means that match their plan? Remember that being under the influence of a substance at the time also increases the risk.

9. Don’t try to be a hero – Access services of a professional who will do an assessment and create a treatment plan. Call a Suicide Crisis line, take the person to the hospital or ask police to transport for you. Make sure that you share the information you have gathered with the professionals involved.

10. Let go! – Sometimes individuals are taken to an Emergency Room and are not admitted or are hospitalized and then released a day or two later. You may not agree with what is happening but it is up to the professionals involved to develop an appropriate treatment plan to help the individual. It is NOT your responsibility to keep the person safe or alive.

Suicide affects so many people – the individual, family, friends and society at large. It is therefore important that we learn as much as possible about suicide and then are wise and compassionate.

How Pizza Began

Who does not love pizza? We all do. But before you take a bite out of your favorite slice, we would like to ask you something. Do you know the rich history of pizza?

Humble Pizza Beginnings

Before pizza came into existence, there was focaccia – a Roman dish that consists of flatbread with added toppings. But historical records show that even before there was focaccia, there were already several versions of flatbread that was famous among individuals during the Neolithic age. In fact, bread goes back as far as 7,000 years ago, among the ancient Sardinians who used leaven to bake bread. Ancient Greeks too, have their version of flatbread that they call plakous. Plakous often had onion, garlic, and herbs for toppings.

It was not until about 997 AD that the name ‘pizza’ first surfaced among the residents in Gaeta, Italy. Back then, pizza was not for the wealthy. The pizza was food for the poor and sold on open street stalls. The first pizza flavor was Marinara, which consists of a topping of garlic, oregano, tomato, and extra virgin olive oil. The flavor owes its name to the seamen’s wives, who traditionally prepared this dish for their seafaring husbands when they return from their fishing trip in Naples. Another classic pizza flavor is Margherita, which consists of a topping of mozzarella cheese, tomato sauce, and fresh basil. The history of Pizza Margherita goes back to 1889 AD when a certain Raffaele Esposito baked this pizza in honor of King Umberto I and Queen Margherita of Savoy. Of the three pizza flavors that the baker prepared, the pizza with the colors of the Italian flag-white, red and green, was her favorite, so the people named the pizza Margherita.

Pizza Today

Pizza has surely come so far from its humble beginnings as a dish for the poor. Now, pizza has become a favorite in almost every part of the world, particularly among the Americans. Although a lot of changes and innovations have become popular over the years, some pizza stores still retain the old methods of baking pizza. In fact, 1984 saw the formation of the Associazione Verace Pizza Napoletana or True Neapolitan Pizza Association, which established guidelines on how to make pizza. Among the many guidelines that the association set is the method of cooking hand-kneaded pizza using a wood-fired domed oven and that its diameter should not be greater than 35 centimeters. The association even prescribed a particular measurement for the thickness of the pizza crust-a third of a centimeter!

How Healthy is Pizza?

You may wonder, though, is pizza healthy? We are sure that you do not think so because of the thousands of calories that they contain. But admit it, even when you have already promised yourself that you would not eat more calories than you should, you find yourself craving for a pizza slice. Just a small portion of that pizza, you would say, and then you eat and feel guilty afterward.

As much as we would like to reassure you that pizza is good for those who are on a diet, we cannot. We all know that pizza is on top of the list of foods that those who want to lose weight should not eat.

Those who are merely on a gluten-free diet but not on a weight loss regimen, however, would be triumphal to know that you can eat pizza! Hurrah! Just make sure that you buy yourself a pizza with a gluten-free pizza crust to avoid eating gluten.

5 Common Misconceptions About Bankruptcy

Misconception #1: YOU LOSE ALL YOUR BELONGINGS IN BANKRUPTCY.

Truth:

Many of the bankruptcy cases that are filed by individuals are known as “no asset” cases. This means that the debtor or debtors preserve all of their belongings. The reason for this is bankruptcy gives you the privilege to keep a certain amount of property in which you can start over with. The belongings that you are able to keep are known as exempt property. Depending on the state you live in will determine what you can keep.

Misconception #2: BANKRUPTCY RUINS YOUR CREDIT FOR 7 TO 10 YEARS.

Truth:

This misconception is unbelievable. There are many cases in which filing for bankruptcy will improve your credit. This is accurate for many debtors, because upon receiving their discharge, they are debt free. Often, their debt to income quota is zero. Once your bankruptcy is over, you can then begin the development of rebuilding your credit. If you are a proactive person, it is important to obtain new credit and to pay all of your necessities on time. If you are doing this for a constant two to three years you can reestablish good credit.

Misconception #3: YOU CANNOT DISCHARGE TAXES IN BANKRUPTCY.

Truth:

Conflicting with the common misconception, typically income taxes can be freed in bankruptcy if you have the following information:

1. The taxes have to be a minimum of three years old

2. The associated return must of been filed a minimum of two years ago

3. Any added appraisal was more than 240 days ago.

4. There was no engaging in fraud or tax evasion from the taxpayer

There are many reasons in which these time periods have the possibility to be extended, do not count on these things alone to determine the discharge-ability of taxes depending on your situation.

Misconception #4: MEDICAL BILLS CANNOT BE DISCHARGED IN BANKRUPTCY.

Truth:

Just like most bills, medical bills can also be discharged in bankruptcy. There are many suspicions in which individuals think otherwise. Wherever this misconception is coming from is false. In fact, one of the main three reasons that an individual will file for bankruptcy is medical bills, alone with job loss and divorce.

Misconception #5: YOU CAN PICK AND CHOOSE WHICH DEBTS TO LIST IN YOUR BANKRUPTCY.

Truth:

False. It is mandatory for all debts to be filed, including debts owed to family and personal friends, business partners, and future debts that you may have. It is not possible for you to eliminate one credit card from the bankruptcy.

Planning For Your Construction Equipment Finance

Expanding or establishing a construction business can be a daunting prospect. Not only are there building regulations and rules to consider, insurances and administration, but you will also face the prospect of purchasing expensive equipment needed to conduct your business. While there are a number of equipment finance options available, to make the best use of construction or commercial equipment finance, you need to properly plan.

Determining What You Actually Need:

The first step is to determine what you actually need to buy. Will you be considering brand new, refurbished or used equipment? Will you be using some of your capital or need the whole sum covered by finance. Australia based business owners need to consider what equipment they will need to conduct their everyday activities. You should remember that more specialised equipment, you will only need periodically, may be better sourced from an equipment rental company. However, if a piece of equipment is needed for most of your business services, it would be more economical to own or long term lease it.

You will also need to consider if you need any office based equipment such as computer systems needed to optimise your projects and make your operation more efficient. This cost may also need to be factored into your equipment finance.

Different Forms of Equipment Finance:

The specific deal will depend on your particular equipment finance needs. Most lenders offer more flexible terms for finance. This can include longer loan terms and lowered monthly payments with final balloon payments. Obviously, if you are looking for larger items of construction equipment such as plant equipment, there will be more flexibility in the equipment finance terms. Since cash flow is important, you may wish to consider keeping your monthly repayments as low as possible. This will allow you to keep your operating costs low and manageable. You will also be able to budget accurately, since you will know exactly how much you will be paying each month.

Obtain Pre-Approval:

One of the most sensible options for your equipment finance is to obtain pre-approval. This will allow you shop with confidence, making an offer as soon as you see what you need at the right price, without worrying about whether you can actually finance the purchase. Pre-approval for finance can be arranged to a set level to allow you to plan your purchases and obtain the best deals. You can also shop around for refurbished or used equipment to obtain the best possible equipment at the best possible price.

Choosing Your Equipment Finance Provider:

While the prospect of obtaining multiple quotes for your equipment finance may seem a little daunting, it is possible to make the process easier and smoother by using a reputable broker. A broker specialising in construction finance will have a network of providers and access to the best deals. The broker may even have a particular relationship with some of the lenders which allows access to exclusive deals. This allows you to compare the rates and terms available, without needing to spend days on the phone.

If you are considering equipment finance for your business, contact us. We are a specialist broker and our experienced advisors would be delighted to answer any questions you may have and assist you in finding the deal best suited to your requirements.