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Los Angeles officially the City of Los Angeles, often known by its initials L.A., is the most populous city in the U.S. state of California and the second-most populous in the United States, after New York City, with a population at the 2010 United States Census of 3,792,621. It has a land area of 469 square miles (1,215 km2), and is located in Southern California.

The city is the focal point of the larger Los Angeles–Long Beach–Anaheim metropolitan statistical area and Greater Los Angeles Area region, which contain 13 million and over 18 million people in Combined statistical area respectively as of 2010, making it one of the most populous metropolitan areas in the world and the second-largest in the United States. Los Angeles is also the seat of Los Angeles County, the most populated and one of the most ethnically diverse counties in the United States, while the entire Los Angeles area itself has been recognized as the most diverse of the nation's largest cities. The city's inhabitants are referred to as Angelenos.

Los Angeles was founded on September 4, 1781, by Spanish governor Felipe de Neve. It became a part of Mexico in 1821 following the Mexican War of Independence. In 1848, at the end of the Mexican–American War, Los Angeles and the rest of California were purchased as part of the Treaty of Guadalupe Hidalgo, thereby becoming part of the United States. Los Angeles was incorporated as a municipality on April 4, 1850, five months before California achieved statehood.

Nicknamed the City of Angels, Los Angeles is a global city, with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine and research and has been ranked sixth in the Global Cities Index and 9th Global Economic Power Index. The city is home to renowned institutions covering a broad range of professional and cultural fields and is one of the most substantial economic engines within the United States. The Los Angeles combined statistical area (CSA) has a gross metropolitan product (P) of $831 billion (as of 2008), making it the third-largest in the world, after the Greater Tokyo and New York metropolitan areas. Los Angeles includes Hollywood and leads the world in the creation of television productions, video games, and recorded music; it is also one of the leaders in motion picture production. Additionally, Los Angeles hosted the Summer Olympic Games in 1932 and 1984.

The Los Angeles coastal area was first settled by the Tongva (or Gabrieleños) and Chumash Native American tribes thousands of years ago. A Gabrielino settlement in the area was called iyáang? (written Yang-na by the Spanish), meaning "poison oak place".

Juan Rodríguez Cabrillo, a Portuguese-born explorer, claimed the area of southern California for the Spanish Empire in 1542. Gaspar de Portolà and Franciscan missionary Juan Crespí, reached the present site of Los Angeles on August 2, 1769.

In 1771, Franciscan friar Junípero Serra directed the building of the Mission San Gabriel Arcángel, the first mission in the area. On September 4, 1781, a group of forty-four settlers known as "Los Pobladores" founded the pueblo called "El Pueblo de Nuestra Señora la Reina de los Ángeles del Río de Porciúncula"; in English it is "The Town of Our Lady the Queen of the Angels of the Porciúncula River". The Queen of the Angels is an honorific of the Virgin Mary. Two-thirds of the settlers were mestizo or mulatto with a mixture of African, indigenous and European ancestry. The settlement remained a small ranch town for decades, but by 1820, the population had increased to about 650 residents. Today, the pueblo is commemorated in the historic district of Los Angeles Pueblo Plaza and Olvera Street, the oldest part of Los Angeles.

New Spain achieved its independence from the Spanish Empire in 1821, and the pueblo continued as a part of Mexico. During Mexican rule, Governor Pío Pico made Los Angeles Alta California's regional capital. Mexican rule ended during the Mexican–American War: Americans took control from the Californios after a series of battles, culminating with the signing of the Treaty of Cahuenga on January 13, 1847.

Railroads arrived with the completion of the Southern Pacific line to Los Angeles in 1876. Oil was discovered in 1892, and by 1923, the discoveries had helped California become the country's largest oil producer, accounting for about one-quarter of the world's petroleum output.

By 1900, the population had grown to more than 102,000, putting pressure on the city's water supply. The completion of the Los Angeles Aqueduct in 1913, under the supervision of William Mulholland, assured the continued growth of the city.

In 1910, not only had the city of Los Angeles annexed Hollywood, but there were already at least 10 movie companies operating in the city. By 1921, more than 80 percent of the world's film industry was concentrated in L.A. The money generated by the industry kept the city insulated from much of the economic pain suffered by the rest of the country during the Great Depression. By 1930, the population surpassed one million. In 1932, the city hosted the Summer Olympics.

During World War II, Los Angeles was a major center of wartime manufacturing, such as shipbuilding and aircraft. Calship built hundreds of Liberty Ships and Victory Ships on Terminal Island, and the Los Angeles area was the headquarters of six of the country During the war, more aircraft were produced in one year than in all the pre-war years since the Wright brothers invented the airplane in 1903, combined. Manufacturing in Los Angeles skyrocketed, and as William S. Knudsen, of the National Defense Advisory Commission put it, "We won because we smothered the enemy in an avalanche of production, the like of which he had never seen, nor dreamed possible.

Following the end of World War II, Los Angeles grew more rapidly than ever, sprawling into the San Fernando Valley. The expansion of the Interstate Highway System during the 1950s and 1960s helped propel suburban growth and signaled the demise of the city's electrified rail system, once the world's largest.

The 1960s saw race relations boil-over into the Watts Riots of 1965 which resulted in 34 deaths and over 1,000 injuries. It was the most severe riot in the city's history until the Los Angeles riots of 1992. In 1969, Los Angeles became one of the birthplaces of the Internet, as the first ARPANET transmission was sent from the University of California, Los Angeles (UCLA) to SRI in Menlo Park.[49]

In 1984, the city hosted the Summer Olympic Games for the second time. Despite being boycotted by 14 Communist countries, the 1984 Olympics became more financially successful than any previous,[50] and the second Olympics to turn a profit until then – the other, according to an analysis of contemporary newspaper reports, being the 1932 Summer Olympics, also held in Los Angeles.[51]

Racial tensions erupted on April 29, 1992, with the acquittal by a Simi Valley jury of the police officers captured on videotape beating Rodney King, culminating in large-scale riots.[52] In 1994, the 6.7 Northridge earthquake shook the city, causing $12.5 billion in damage and 72 deaths.[53] The century ended with the Rampart scandal, one of the most extensive documented cases of police misconduct in American history.[54]

In 2002, voters defeated efforts by the San Fernando Valley and Hollywood to secede from the city.[55]

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The economy of Los Angeles is driven by international trade, entertainment (television, motion pictures, video games, recorded music), aerospace, technology, petroleum, fashion, apparel, and tourism. Los Angeles is also the largest manufacturing center in the western United States.[106] The contiguous ports of Los Angeles and Long Beach together comprise the fifth-busiest port in the world and the most significant port in the Western Hemisphere and is vital to trade within the Pacific Rim.[106] Other significant industries include media production, finance, telecommunications, law, healthcare, and transportation.

The Los Angeles–Long Beach–Santa Ana metropolitan statistical area (MSA) has a gross metropolitan product (P) of $735.7 billion (as of 2010),[107] making it the third largest economic center in the world, after the Greater Tokyo Area and the New York-Newark-Bridgeport CSA. If counted as a country, the surrounding CSA has the 15th largest economy in the world in terms of nominal GDP.[108] Los Angeles has been classified an "Alpha world city" according to a 2012 study by a research group at Loughborough University in England.[109]

The city is home to six Fortune 500 companies. They are energy company .

The University of Southern California (USC) is the city's largest private sector employer and contributes $4 billion annually to the local economy.[110]

According to the city's 2010 Comprehensive Annual Financial Report, the top ten employers in the city as of 2009 were, in descending order, the City of Los Angeles, the County of Los Angeles, University of California, Los Angeles, University of Southern California,.[111]

 

San Diegois a major city in California, on the coast of the Pacific Ocean in Southern California, approximately 120 miles (190 km) south of Los Angeles and immediately adjacent to the border with Mexico. With an estimated population of 1,322,553 as of 2012,[11] San Diego is the eighth-largest city in the United States and second-largest in California. San Diego is the birthplace of California[12] and is known for its mild year-round climate, natural deep-water harbor, extensive beaches, long association with the U.S. Navy, and recent emergence as a healthcare and biotechnology development center.

Historically home to the Kumeyaay people, San Diego was the first site visited by Europeans on what is now the West Coast of the United States. Upon landing in San Diego Bay in 1542, Juan Rodríguez Cabrillo claimed the entire area for Spain, forming the basis for the settlement of Alta California 200 years later. The Presidio and Mission of San Diego, founded in 1769, formed the first European settlement in what is now California. In 1821, San Diego became part of newly independent Mexico, and in 1850, became part of the United States following the Mexican-American War and the admission of California to the union.

The city is the seat of San Diego County and is the economic center of the region as well as the San Diego–Tijuana metropolitan area. San Diego's main economic engines are military and defense-related activities, tourism, international trade, and manufacturing. The presence of the University of California, San Diego (UCSD), with the affiliated UCSD Medical Center, has helped make the area a center of research in biotechnology.

Pre-colonial period

The original inhabitants of the region are now known as the San Dieguito and La Jolla people.[13] The area of San Diego has been inhabited by the Kumeyaay people.[14][15] The first European to visit the region was Portuguese-born explorer Juan Rodríguez Cabrillo sailing under the flag of Castile. Sailing his flagship San Salvador from Navidad, New Spain, Cabrillo claimed the bay for the Spanish Empire in 1542 and named the site 'San Miguel'. In November 1602, Sebastián Vizcaíno was sent to map the California coast. Arriving on his flagship San Diego, Vizcaíno surveyed the harbor and what are now Mission Bay and Point Loma and named the area for the Catholic Saint Didacus, a Spaniard more commonly known as San Diego de Alcalá. On November 12, 1602, the first Christian religious service of record in Alta California was conducted by Friar Antonio de la Ascensión, a member of Vizcaíno's expedition, to celebrate the feast day of San Diego.

Spanish period

In May 1769, Gaspar de Portolà established the Fort Presidio of San Diego on a hill near the San Diego River. It was the first settlement by Europeans in what is now the state of California. In July of the same year, Mission San Diego de Alcalá was founded by Franciscan friars under Father Junípero Serra. By 1797, the mission boasted the largest native population in Alta California, with over 1,400 neophytes living in and around the mission proper. Mission San Diego was the southern anchor in California of the historic mission trail El Camino Real. Both the Presidio and the Mission are National Historic Landmarks.

Mexican period

In 1821, Mexico won its independence from Spain, and San Diego became part of the Mexican state of Alta California. The fort on Presidio Hill was gradually abandoned, while the town of San Diego grew up on the level land below Presidio Hill. The Mission was secularized by the Mexican government in 1834, and most of the Mission lands were sold to wealthy Californio settlers. The 432 residents of the town petitioned the governor to form a pueblo, and Juan María Osuna was elected the first alcalde ("municipal magistrate"), defeating Pío Pico in the vote. (See, List of pre-statehood mayors of San Diego.) However, San Diego had been losing population throughout the 1830s and in 1838 the town lost its pueblo status because its size dropped to an estimated 100 to 150 residents. Beyond town Mexican land grants expanded the number of California ranchos that modestly added to the local economy.

In 1846, the United States went to war against Mexico and sent a naval and land expedition to conquer Alta California. At first they had an easy time of it capturing the major ports including San Diego, but the Californios in southern Alta California struck back. Following the successful revolt in Los Angeles, the American garrison at San Diego was driven out without firing a shot in early October 1846. Mexican partisans held San Diego for three weeks until October 24, 1846, when the Americans recaptured it. For the next several months the Americans were blockaded inside the pueblo. Skirmishes occurred daily and snipers shot into the town every night. The Californios drove cattle away from the pueblo hoping to starve the Americans and their Californio supporters out. On December 1 the Americans garrison learned that the dragoons of General Stephen W. Kearney were at Warner's Ranch. Commodore Robert F. Stockton sent a mounted force of fifty under Captain Archibald Gillespie to march north to meet him. Their joint command of 150 men, returning to San Diego, encountered about 93 Californios under Andrés Pico. In the ensuing Battle of San Pasqual, fought in the San Pasqual Valley which is now part of the city of San Diego, the Americans suffered their worst losses in the campaign. Subsequently a column led by Lieutenant Gray arrived from San Diego, rescuing Kearny's battered and blockaded command.

Stockton and Kearny went on to recover Los Angeles and force the capitulation of Alta California with the "Treaty of Cahuenga" on January 13, 1847. As a result of the Mexican-American War of 1846–1848, the territory of Alta California, including San Diego, was ceded to the United States by Mexico, under the terms of the Treaty of Guadalupe Hidalgo in 1848. The Mexican negotiators of that treaty tried to retain San Diego as part of Mexico, but the Americans insisted that San Diego was "for every commercial purpose of nearly equal importance to us with that of San Francisco," and the Mexican-American border was eventually established to be one league south of the southernmost point of San Diego Bay, so as to include the entire bay within the United States.

American period

The state of California was admitted to the United States in 1850. That same year San Diego was designated the seat of the newly established San Diego County and was incorporated as a city. Joshua H. Bean, the last alcalde of San Diego, was elected the first mayor. Two years later the city was bankrupt; the California legislature revoked the city's charter and placed it under control of a board of trustees, where it remained until 1889. A city charter was re-established in 1889 and today's city charter was adopted in 1931.

The original town of San Diego was located at the foot of Presidio Hill, in the area which is now Old Town San Diego State Historic Park. The location was not ideal, being several miles away from navigable water. In 1850, William Heath Davis promoted a new development by the Bay shore called "New San Diego", several miles south of the original settlement; however, for several decades the new development consisted only a few houses, a pier and an Army depot. In the late 1860s, Alonzo Horton promoted a move to the bayside area, which he called "New Town" and which became Downtown San Diego. Horton promoted the area heavily, and people and businesses began to relocate to New Town because of its location on San Diego Bay convenient to shipping. New Town soon eclipsed the original settlement, known to this day as Old Town, and became the economic and governmental heart of the city. Still, San Diego remained a relative backwater town until the arrival of a railroad connection in 1878.

In the early part of the 20th century, San Diego hosted two World's Fairs: the Panama-California Exposition in 1915 and the California Pacific International Exposition in 1935. Both expositions were held in Balboa Park, and many of the Spanish/Baroque-style buildings that were built for those expositions remain to this day as central features of the park. The buildings were intended to be temporary structures, but most remained in continuous use until they progressively fell into disrepair. Most were eventually rebuilt, using castings of the original facades to retain the architectural style. The menagerie of exotic animals featured at the 1915 exposition provided the basis for the San Diego Zoo. During the 1950s there was a citywide festival called Fiesta del Pacifico highlighting the area's Spanish and Mexican past. In the 2010s there was a proposal for a large-scale celebration of the 100th anniversary of Balboa Park, but the plans were abandoned when the organization tasked with putting on the celebration went out of business.

The southern portion of the Point Loma peninsula was set aside for military purposes as early as 1852. Over the next several decades the Army set up a series of coastal artillery batteries and named the area Fort Rosecrans. Significant U.S. Navy presence began in 1901 with the establishment of the Navy Coaling Station in Point Loma, and expanded greatly during the 1920s. By 1930 the city was host to Naval Base San Diego, Naval Training Center San Diego, San Diego Naval Hospital, Camp Matthews, and Camp Kearny (now Marine Corps Air Station Miramar). The city was also an early center for aviation: as early as World War I San Diego was proclaiming itself "The Air Capital of the West." The city was home to important airplane developers and manufacturers, founded in 1923. Charles A. plane The Spirit of St. Louis was built in San Diego in 1927 by Airlines.

During World War II, San Diego became a major hub of military and defense activity, due to the presence of so many military installations and defense manufacturers. The city's populatio"

"

-114""> five amphibious assault ships, several Los Angeles-class "fast attack" submarines, the Hospital Ship USNS Mercy, carrier and submarine tenders, destroyers, cruisers, frigates, and many smaller ships are home-ported there. Four Navy vessels have been named USS San Diego.

Tourism

Tourism is a major industry owing to the city's climate, its beaches, and numerous tourist attractions such as Balboa Park, Belmont amusement park, San Diego Zoo, San Diego Zoo Safari Park, and San Diego. San Diego's Spanish and Mexican heritage is reflected in the many historic sites across the city, such as Mission San Diego de Alcala and Old Town San Diego State Historic Park. Annual events in San Diego include Comic-Con, the Farmers Insurance Open golf tournament, San Diego Pride, the San Diego Black Film Festival, and Stre Scene Music Festival. Also, the local craft brewing industry attracts an increasing number of visitors for "beer tours" and the annual San Diego Beer Week in November; San Diego has been called "America's Craft Beer Capital."

San Diego County hosted more than 32 million visitors in 2012, of whom approximately half stayed overnight and half were day visitors; collectively they spent an estimated $8 billion locally, with a regional economic impact of more than $18 billion. The visitor industry provides employment for more than 160,000 people. The San Diego Convention Center hosted 68 out-of-town conventions and trade shows in 2009, attracting more than 600,000 visitors. Transient Occupancy Taxes (TOT) have created funding for the City of San Diego Commission for Arts and Culture.

San Diego's cruise ship industry used to be the second-largest in California. Each cruise ship call injects an estimated $2 million (from the purchase of , fuel, supplies, and maintenance services, not counting the money spent by the tourists) into the local economy. . However, cruise ship business has been in steady decline since peaking in 2008, when the Port hosted over 250 ship calls and more than 900,000 passengers. By 2011 the number of ship calls had fallen to 103 (estimated). Cruises operated weekly cruises to the Mexican Riviera for many years, but both ended their regular scheduled service in spring 2012, which was an economic loss to the region of more than $100 million. The decline is blamed on the slumping economy as well as fear of travel to Mexico due to well-publicized violence there.

There are local cruises in San Diego Bay and Mission Bay, available through companies such as and H&M. These include sightseeing and "suns" cruises as well as private-event or "party" cruises. Also available are whale watching cruises to observe the migration of tens of thousands of gray whales that pass by San Diego, peaking in mid-January, and year-round sport fishing expeditions.

International trade

San Diego's commercial port and its location on the United States-Mexico border make international trade an important factor in the city's economy. The city is authorized by the United States government to operate as a Foreign Trade Zone.

The city shares a 15-mile (24 km) border with Mexico that includes two border crossings. San Diego hosts the busiest international border crossing in the world, in the San Ysidro neighborhood at the San Ysidro Port of Entry. A second, primarily commercial border crossing operates in the Otay Mesa area; it is the largest commercial crossing on the California-Baja California border and handles the third-highest volume of trucks and dollar value of trade among all United States-Mexico land crossings.

One of the Port of San Diego's two cargo facilities is located in Downtown San Diego at the Tenth Avenue Marine Terminal. This terminal has facilities for containers, bulk cargo, and refrigerated and frozen storage, so that it can handle the import and export of perishables (including 33 million bananas every month) as well as fertilizer, cement, forest products, and other commodities. In 2009 the Port of San Diego handled 1,137,054 short tons of total trade; foreign trade accounted for 956,637 short tons while domestic trade amounted to 180,417 short tons.

Manufacturing and research

In 2010, former Governor Schwarzenegger’s Office of Economic Development designated San Diego as an iHub Innovation Center for collaboration potentially bween wireless and life sciences, citing the area's wireless business, pharmaceutical research and start- for medical devices and diagnostics.

San Diego hosts several major producers of wireless cellular technology. comm was founded and is headquartered in San Diego, and still is the largest private-sector technology employer (excluding hospitals) in San Diego County. Other wireless industry manufacturers headquartered here include According to the San Diego Business , the largest software company in San Diego is security software company sense Inc. San Diego also has the U.S. headquarters for the Slovakian security company .

The presence of the University of California, San Diego and other research institutions has helped to fuel biotechnology growth. In June 2004, San Diego was ranked the top biotech cluster in the United States by the Milken Institute. In 2013, San Diego has the second-largest biotech cluster in the United States, below the Boston area and above the San Francisco Bay Area. There are more than 400 biotechnology companies in the area. In particular, the La Jolla and nearby Sorrento Valley areas are home to offices and research facilities for numerous biotechnology companies. Major biotechnology companies like are headquartered in San Diego, while many biotech and pharmaceutical companies, such as Biosciences, gen , Technologies, have offices or research facilities in San Diego. There are also several non-profit biotech and health care institutes, such as the Salk Institute for Biological Studies, the Scripps Research Institute, the West Wireless Health Institute and the San-Burnham Institute. San Diego is also home to more than 140 contract research organizations (CROs) that provide a variy of contract services for pharmaceutical and biotechnology companies.[143]

Historically tuna fishing and canning was one of San Diego's major industries,[144] and although the American tuna fishing fle is no longer based in San Diego, sea companies Bumble Bee s and Chicken of the Sea are still headquartered there.[145][146]

Real estate

Prior to 2006, San Diego experienced a dramatic growth of real estate prices, to the extent that the situation was somimes described as a "housing afability crisis". Median single family home prices more than tripled bween 1998 and 2007. According to the California Association of Realtors, in May 2007 a median house in San Diego cost $612,370.[147] Growth of real estate prices was not accompanied by comparable growth of household incomes: the Housing Afability Index (percentage of households that can af to buy a median-priced house) fell below 20 percent in the early 2000s. The San Diego mropolitan area had one of the worst median multiples (ratio of median house price to median household income) of all mropolitan areas in the United States,[148] a situation somimes referred to as a Sunshine tax. As a consequence, San Diego has experienced negative n migration since 2004. A significant number of people moved to adjacent Riverside County, commuting daily from Temecula and Murria to jobs in San Diego. Many of San Diego's home buyers tend to buy homes within the more afable neighborhoods, while others are leaving the state altogher and moving to more afable regions of the country.[149]

San Diego home prices peaked in 2005, then declined as part of a nationwide trend. As of December 2010, home prices were 60 percent higher than in 2000, but down 36 percent from the peak in 2005.[150] The median home price declined by more than $200,000 bween 2005 and 2010, and sales dropped by 50 percent.[151]

and the county seat of Santa Clara County. San Jose is the largest city within Silicon Valley, which is a major component of the greater Bay Area. It is the largest city in Northern California.

San Jose was founded on November 29, 1777, as El Pueblo de San José de Guadalupe, the first civilian town in the Spanish colony of Nueva California.[10] The city served as a farming community to support Spanish military installations at San Francisco andrey. When California gained statehood in 1850, San Jose served as its first capital.[11]

After more than 150 years as a small farming community, the San Jose area in the mid-20th century contained some of the last undeveloped land near San Francisco Bay. It then began to experience rapid population growth, much of it coming from verans rurning from World War II. San Jose then continued its aggressive expansion during the 1950s and 1960s by annexing more land area. The rapid growth of the high-technology and electronics industries further accelerated the transition from an agricultural center, to an urbanized mropolitan area.

By the 1990s, San Jose's location within the booming local technology industry earned the city the nickname "Capital of Silicon Valley". San Jose is now considered to be a global city,[12] and notable for its affluence,[13][14][15][16] and high cost of living.[17] The U.S. Census Bureau reported the population of the city to be 945,942 in 2010.

Prior to European stlement, the area was inhabited by several gro of Ohlone Native Americans.[18] The first lasting European presence began with a series of Franciscan missions established from 1769 by Father Junípero Serra.[19] On orders from Antonio María de Bucareli y Ursúa, Spanish Viceroy of New Spain, San Jose was founded by Lieutenant José Joaquín Moraga as Pueblo de San José de Guadalupe (in honor of Saint Joseph) on November 29, 1777, to establish a farming community. The town was the first civil stlement in Alta California[20]

In 1797, the pueblo was moved from its original location, near the present-day intersection of Guadalupe Parkway and Taylor Stre, to a location in what is now Downtown San Jose. San Jose came under Mexican rule in 1821 after Mexico broke with the Spanish crown. It then became part of the United States, after it capitulated in 1846 and California was annexed.[18]

On March 27, 1850, San Jose became the second incorporated city in the state (after Sacramento), with Josiah Belden its first mayor. San Jose was the California's first State capital, and hosted the first and second sessions (1850–1851) of the California Legislature. Today the Circle of Palms Plaza in downtown is the historical marker for the first state capital. The city was a station on the Butterfield Overland Mail route.

Though not affected as severely as San Francisco, San Jose also suffered much damage from the 1906 San Francisco earthquake. Over 100 people died at the Agnews Asylum (later Agnews State Hospital) after its walls and roof collapsed,[21] and the San Jose High School's three-story stone-and-brick building was also destroyed. The period during World War II was a tumultuous time. Japanese Americans primarily from Japantown were sent to internment camps, including the future mayor, Norman Mina. Following the Los Angeles zoot suit riots, anti-Mexican violence took place during the summer of 1943. In 1940, the Census Bureau reported San Jose's population as 98% white.[22] The entire region prepared for the beginning of the war.

As World War II started, the city's economy shifted from agriculture (the Del cannery was the largest employer) to industrial manufacturing with the contracting of the Machinery Corporation (later known as Corporation) by the United States War Department to build 1000 Landing Vehicle Tracked.[23] After World War II, (later United Defense, and currently BAE Systems) continued as a defense contractor, with the San Jose facilities designing and manufacturing military platforms such as the M113 Armored Personnel Carrier, the Bradley Fighting Vehicle, and various subsystems of the M1 Abrams battle tank.[24]

established its West Coast headquarters in San Jose in 1943 and opened a downtown research and development facility in 1952. Both would prove to be harbingers for the economy of San Jose, as Reynold Johnson and his team would later invent , as well as the Hard disk drive, and the technological side of San Jose's economy grew.[25]

The Motor Company relocated its factory in Richmond to a new location in the suburb of Milpitas, called the San Jose Assembly Plant which was one of the primary locations for manufacturing the Mustang.

During the 1950s and 1960s, city manager A. P. "Dutch" Hamann led the city in a major growth campaign. The city annexed adjacent areas, such as Alviso and Cambrian Park, providing large areas for suburbs. An anti-growth reaction to the effects of rapid development emerged in the 1970s championed by mayors Norman Mina and Jan Gray Hayes. Despite establishing an urban growth boundary, development fees, and incorporations of Campbell and Cupertino, development was not slowed, but rather directed into already incorporated areas.[23]

On April 3, 1979, the San Jose City Council adopted San José, with the diacritical mark on the "e", as the spelling of the city name on the city seal, official stationery, office titles and department names. Also, by city council convention, this spelling of San José is used when the name is stated in both upper- and lower-case lters, but not when the name is stated only in upper-case lters. The accent reflects the Spanish version of the name, and the dropping of accents in all-capital writing was typical in Spanish. The name is still more commonly spelled without the diacritical mark as San Jose.[citation needed] The official name of the city remains City of San Jose with no diacritical mark, according to the City Charter.[26] The city's website appears to use a mixture of both; for example, the "City of San José" in the text uses the mark but the "City of San Jose" logo image does not.[27]

San Jose's position in Silicon Valley triggered more economic and population growth. Results from the 1990 U.S. Census indicated that San Jose surpassed San Francisco as the most populous city in the Bay Area for the first time.[28] This growth led to the highest housing costs increase in the nation, 936% bween 1976 and 2001.[29] Efforts to increase density continued into the 1990s when an update of the 1974 urban plan kept the urban growth boundaries intact and voters rejected a ballot measure to ease development restrictions in the foothills. Sixty percent of the housing built in San Jose since 1980 and over three-quarters of the housing built since 2000 have been multifamily structures, reflecting a political propensity toward Smart Growth planning principles.[30]

 

The large concentration of high-technology engineering, computer, and microprocessor companies around San Jose has led the area to be known as Silicon Valley. As the largest city in the valley, San Jose has billed itself "the capital of Silicon Valley." Area schools such as the University of California, Berkeley, University of California, Santa Cruz, San Jose State University, San Francisco State University, California State University, East Bay, Santa Clara University, and Stan University pump thousands of engineering and computer science graduates into the local economy every year.

High economic growth during the tech bubble caused employment, housing prices, and traffic congestion to peak in the late 1990s. As the economy slowed in the early 2000s, employment and traffic congestion diminished somewhat. In the mid-2000s, traffic along major highways again began to worsen as the economy improved. San Jose had 405,000 jobs within its city limits in 2006, and an unemployment rate of 4.6%. In 2000, San Jose residents had the highest median household income of any city in the United States with a population over 300,000, and currently has the highest median income of any U.S. city with over 280,000 people.

San Jose lists many companies with 1,000 employees or more, . The North American headquarters of sung are located in San Jose.[57] . Sizable government employers include the city government, Santa Clara County, and San Jose State University.[58] Acer's United States division has its offices in San Jose.[59] Prior to its closing, Nhad its headquarters in San Jose.[60][61]

The cost of living in San Jose and the surrounding areas is among the highest in California and the nation.[62] Housing costs are the primary reason for the high cost of living, although the costs in all areas tracked by the ACCRA Cost of Living Index are above the national average. Households in the city limits have the highest disposable income of any city in the U.S. with over 500,000 residents.[63][64]

San Jose residents produce more U.S. patents than any other city.[65] Thirty-five percent of all venture capital funds in the U.S. are invested in San Jose and Silicon Valley companies.[65]

In January 2014 Magazine reported that .com had ranked San Jose-Sunnyvale-Santa Clara mro area as the happiest place to work in the USA. The report cited a large concentration of technology jobs that typically offer a high salary and opportunity for growth, in addition to companies providing "fun and innovative work environments" as some of the reasons for the ranking.[66]

7 San Jose State University 3,11"

"

776, the Spanish established the Presidio of San Francisco, followed by a mission, Mission San Francisco de Asís (Mission Dolores), established by the Spanish explorer Juan Bautista de Anza.

Upon independence from Spain in 1821, the area became part of Mexico. Under Mexican rule, the mission system gradually ended, and its lands became privatized. In 1835, Englishman William Richardson erected the first independent homestead, near a boat anchorage around what is today Portsmouth Square. Together with Alcalde Francisco de Haro, he laid out a street plan for the expanded settlement, and the town, named Yerba Buena, began to attract American settlers. Commodore John D. Sloat claimed California for the United States on July 7, 1846, during the Mexican-American War, and Captain John B. Montgomery arrived to claim Yerba Buena two days later. Yerba Buena was renamed San Francisco on January 30 of the next year, and Mexico officially ceded the territory to the United States at the end of the war. Despite its attractive location as a port and naval base, San Francisco was still a small settlement with inhospitable geography.

The California Gold Rush brought a flood of treasure seekers. With their sourdough bread in tow, prospectors accumulated in San Francisco over rival Benicia, raising the population from 1,000 in 1848 to 25,000 by December 1849. The promise of fabulous riches was so strong that crews on arriving vessels deserted and rushed off to the gold fields, leaving behind a forest of masts in San Francisco harbor. California was quickly granted statehood, and the U.S. military built Fort Point at the Golden Gate and a fort on Alcatraz Island to secure the San Francisco Bay. Silver discoveries, including the Comstock Lode in 1859, further drove rapid population growth. With hordes of fortune seekers streaming through the city, lawlessness was common, and the Barbary Coast section of town gained notoriety as a haven for criminals, prostitution, and gambling.

Entrepreneurs sought to capitalize on the wealth generated by the Gold Rush. Early winners were the banking industry, with the founding of in 1852 and the of California in 1864. Development of the Port of San Francisco and the establishment in 1869 of overland access to the Eastern U.S. rail system via the newly completed Pacific Railroad (the construction of which the city only reluctantly helped support) helped make the Bay Area a center for trade. Catering to the needs and tastes of the growing population, auss opened a dry goods business and began manufacturing chocolate. Immigrant laborers made the city a polyglot culture, with Chinese railroad workers creating the city's Chinatown quarter. In 1870, Asians made up 8% of the population. The first cable cars carried San Franciscans up Clay Street in 1873. The city's sea of Victorian houses began to take shape, and civic leaders campaigned for a spacious public park, resulting in plans for Golden Gate Park. San Franciscans built schools, churches, theaters, and all the hallmarks of civic life. The Presidio developed into the most important American military installation on the Pacific coast. By 1890, San Francisco's population approached 300,000, making it the eighth-largest city in the U.S. at the time. Around 1901, San Francisco was a major city known for its flamboyant style, stately hotels, ostentatious mansions on Nob Hill, and a thriving arts scene. The first North American plague epidemic was the San Francisco plague of 1900–1904.

At 5:12 am on April 18, 1906, a major earthquake struck San Francisco and northern California. As buildings collapsed from the shaking, ruptured gas lines ignited fires that spread across the city and burned out of control for several days. With water mains out of service, the Presidio Artillery Corps attempted to contain the inferno by dynamiting blocks of buildings to create firebreaks. More than three-quarters of the city lay in ruins, including almost all of the downtown core. Contemporary accounts reported that 498 people lost their lives, though modern estimates put the number in the several thousands. More than half of the city's population of 400,000 was left homeless. Refugees settled temporarily in makeshift tent villages in Golden Gate Park, the Presidio, on the beaches, and elsewhere. Many fled permanently to the East Bay.

Rebuilding was rapid and performed on a grand scale. Rejecting calls to completely remake the street grid, San Franciscans opted for speed. Amadeo Giannini's Bank later to become Bank , provided loans for many of those whose livelihoods had been devastated. The iuential San Francisco Planning and Urban Research Association or SPUR was founded in 1910 to address the quality of housing after the earthquake. The earthquake hastened development of western neighborhoods that survived the fire, including Pacific Heights, where many of the city's wealthy rebuilt their homes. In turn, the destroyed mansions of Nob Hill became grand hotels. City Hall rose again in splendorous Beaux Arts style, and the city celebrated its rebirth at the Panama-Pacific International Exposition in 1915.

It was during this period San Francisco built some of its most important infrastructure. Civil Engineer Michael O'Shaughnessy was hired by San Francisco Mayor James Rolph as chief engineer for the city in September 1912 to supervise the construction of the Twin Peaks Reservoir, the Stockton Street Tunnel, the Twin Peaks Tunnel, the San Francisco Municipal Railway, the Auxiliary Water Supply System, and new sewers. San Francisco's streetcar system, of which the J, K, L, M, and N lines survive today, was pushed to completion by O'Shaughnessy between 1915 and 1927. It was the O'Shaughnessy Dam, Hetch Hetchy Reservoir, and Hetch Hetchy Aqueduct that would have the largest effect on San Francisco. An abundant water supply enabled San Francisco to develop into the city it has become today.

In ensuing years, the city solidified its standing as a financial capital; in the wake of the 1929 stock market crash, not a single San Francisco-based bank failed. Indeed, it was at the height of the Great Depression that San Francisco undertook two great civil engineering projects, simultaneously constructing the San Francisco – Oakland Bay Bridge and the Golden Gate Bridge, completing them in 1936 and 1937 respectively. It was in this period that the island of Alcatraz, a former military stockade, began its service as a federal maximum security prison, housing notorious inmates such as Al Capone, and Robert Franklin Stroud, The Birdman of Alcatraz. San Francisco later celebrated its regained grandeur with a World's Fair, the Golden Gate International Exposition in 1939–40, creating Treasure Island in the middle of the bay to house it.

During World War II, the Hunters Point Naval Shipyard became a hub of activity, and Fort Mason became the primary port of embarkation for service members shipping out to the Pacific Theater of Operations.[28] The explosion of jobs drew many people, especially African Americans from the South, to the area. After the end of the war, many military personnel returning from service abroad and civilians who had originally come to work decided to stay. The UN Charter creating the UN was drafted and signed in San Francisco in 1945 and, in 1951, the Treaty of San Francisco officially ended the war with Japan.

Urban planning projects in the 1950s and 1960s involved widespread destruction and redevelopment of west-side neighborhoods and the construction of new freeways, of which only a series of short segments were built before being halted by citizen-led opposition.[55] The onset of containerization made San Francisco's small piers obsolete, and cargo activity moved to the larger Port of Oakland.[56] The city began to lose industrial jobs and turned to tourism as the most important segment of its economy.[57] The suburbs experienced rapid growth, and San Francisco underwent significant demographic change, as large segments of the white population left the city, supplanted by an increasing wave of immigration from Asia and Latin America.[58][59] From 1950 to 1980, the city lost over 10 percent of its population.

Over this period, San Francisco became a magnet for America's counterculture. Beat Generation writers fueled the San Francisco Renaissance and centered on the North Beach neighborhood in the 1950s.[60] Hippies flocked to Haight-Ashbury in the 1960s, reaching a peak with the 1967 Summer of Love.[61] In 1974, the Zebra murders left at least 16 people dead.[62] In the 1970s, the city became a center of the gay rights movement, with the emergence of The Castro as an urban gay village, the election of Harvey Milk to the Board of Supervisors, and his assassination, along with that of Mayor George Moscone, in 1978.[63]

Bank of America completed 555 California Street in 1969 and the Transamerica Pyramid was completed in 1972,[64] igniting a wave of "Manhattanization" that lasted until the late 1980s, a period of extensive high-rise development downtown.[65] The 1980s also saw a dramatic increase in the number of homeless people in the city, an issue that remains today, despite many attempts to address it.[66] The 1989 Loma Prieta earthquake caused destruction and loss of life throughout the Bay Area. In San Francisco, the quake severely damaged structures in the Marina and South of Market districts and precipitated the demolition of the damaged Embarcadero Freeway and much of the damaged Central Freeway, allowing the city to reclaim its historic downtown The Embarcadero waterfront and revitalizing the Hayes Valley neighborhood.

The last 20 years have seen two booms driven by the internet industry. First was the dot-com boom of the late 1990s, startup companies invigorated the San Francisco economy. Large numbers of entrepreneurs and computer application developers moved into the city, followed by marketing, design, and sales professionals, changing the social landscape as once-poorer neighborhoods became increasingly gentrified.[67] Demand for new housing and office space ignited a second wave of high-rise development, this time South of Market.[68] By 2000, the city's population reached new highs, surpassing the previous record set in 1950. When the bubble burst in 2001, many of these companies folded and their employees were laid off. Yet high technology and entrepreneurship remain mainstays of the San Francisco economy. By the mid 2000s, the social media boom had begun, with San Francisco becoming a popular location for tech offices and a popular place to live for people employed in Silicon Valley companies such as .[69]

San Francisco has a diversified service economy, with employment spread across a wide range of professional services, including financial services, tourism, and (increasingly) high technology.[134] In 2012, approximately 25% of workers were employed in professional business services; 16% in government services; 15% in leisure and hospitality; 11% in education and health care; and 9% in financial activities.[134] In 2013, GDP in the five-county San Francisco metropolitan area was US$388.3 billion.[135]

Many large financial institutions, multinational banks, and venture capital firms are based in or have regional headquarters in the city. With over 30 international financial institutions,[137] six Fortune 500 companies,[138] and a large support infrastructure of professional services—including law, public relations, architecture and design—San Francisco is designated as an Alpha(-) World City,[139] and is ranked in 10th place among the top global financial centers.[140]

Tourism is one of the city's largest private-sector industries,[142] accounting for more than one out of seven jobs in the city.[143] The city's frequent portrayal in music, film, and popular culture has made the city and its landmarks recognizable worldwide. San Francisco attracts the fifth-highest number of foreign tourists of any city in the U.S.[dated info][144] and ranks 43rd out of the 100 most visited cities worldwide according to Euromonitor International.[145] More than 16.9 million visitors arrived in San Francisco in 2013, injecting US$9.4 billion into the economy.[146] With a large hotel infrastructure and a world-class convention facility in the Moscone Center, San Francisco is a popular destination for annual conventions and conferences.[147]

Since the 1990s, San Francisco's economy has diversified away from finance and tourism towards the growing fields of high tech, biotechnology, and medical research.[143] Technology jobs accounted for just 1 percent of San Francisco's economy in 1990, growing to 4 percent in 2010 and an estimated 8 percent by the end of 2013.[148] San Francisco became an epicenter of Internet start-up companies during the dot-com bubble of the 1990s and the subsequent social media boom of the late 2000s.[149] Since 2010, San Francisco proper has attracted an increasing share of venture capital investments as compared to nearby Silicon Valley, attracting 423 financings worth US$4.58 billion in 2013.[150][151][152] In 2004, the city approved a payroll tax exemption for biotechnology companies[153] to foster growth in the Mission Bay neighborhood, site of a second campus and hospital of the University of California, San Francisco (UCSF). Mission Bay hosts the California Institute for Regenerative Medicine, California Institute for Quantitative Biosciences, and Gladstone Institutes,[154] as well as more than 40 private-sector life sciences companies.[155]

The top employer in the city is the city government itself, employing 5.3% (25,000+ people) of the city's population, followed by UCSF with over 22,000 employees. Third—at 1.8% (8,500+ people)—is California Pacific Medical Center, the largest private-sector employer.[156] Small businesses with fewer than 10 employees and self-employed firms make up 85% of city establishments,[157] and the number of San Franciscans employed by firms of more than 1,000 employees has fallen by half since 1977.[158] The growth of national big box and formula retail chains into the city has been made intentionally difficult by political and civic consensus. In an effort to buoy small privately owned businesses in San Francisco and preserve the unique retail personality of the city, the Small Business Commission supports a publicity campaign to keep a larger share of retail dollars in the local economy,[159] and the Board of Supervisors has used the planning code to limit the neighborhoods where formula retail establishments can set up shop,[160] an effort affirmed by San Francisco voters.[161]

Like many U.S. cities, San Francisco once had a significant manufacturing sector employing nearly 60,000 workers in 1969, but nearly all production left for cheaper locations by the 1980s.[162] As of 2014, San Francisco has seen a small resurgence in manufacturing, with more than 4,000 manufacturing jobs across 500 companies, doubling since 2011.


The early 1900s marked a heightened interest in conventioneering in San Francisco, resulting in an increase in the hotel industry: “In 1959, the city had fewer than thirty-three hundred first-class hotel rooms; by 1970, the number was nine thousand; and by 1999, there were more than thirty thousand.” [163] The establishment of convention centers, such as Yerba Buena, acted as a feeder into the local tourist economies and helped transform San Francisco into a convention-tourist economy, underpinning much of the great success of the restaurant and hotel industries.

 

Fresno (-noh), the county seat of Fresno County, is a city in the U.S. state of California. As of 2013, the city's population was 509,000 making it the fifth largest city in California, the largest inland city in California and the 34th largest in the nation. Fresno is in the center of the San Joaquin Valley and is the largest city in the Central Valley, which contains the San Joaquin Valley. It is approximately 200 miles (320 km) north of Los Angeles, and 170 miles (270 km) south of the state capital, Sacramento. Metropolitan Fresno has a population of 1,107,416.[citation needed] The name Fresno means 'ash tree' in Spanish, and an ash leaf is featured on the city's flag.

The original inhabitants of the San Joaquin Valley region were the Yokuts people, who engaged in trading with other Californian tribes of Native Americans including coastal peoples such as the Chumash of the Central California coast, with whom they are thought to have traded plant and animal products.

The county of Fresno was formed in 1856 after the California Gold Rush. It was named for the abundant ash trees lining the San Joaquin River. The county was much larger than it is today as part of Tulare County, comprising its current area plus all of what became Madera County and parts of what are now San Benito, Kings, Inyo, and Mono counties.[citation needed]

Millerton, then on the banks of the free-flowing San Joaquin River and close to Fort Miller, became the county seat after becoming a focal point for settlers. Other early county settlements included Firebaugh's Ferry, Scottsburg and Elkhorn Springs.

The San Joaquin River flooded on December 24, 1867, inundating Millerton. Some residents rebuilt, others moved. Flooding also destroyed the town of Scottsburg on the nearby Kings River that winter. Rebuilt on higher ground, Scottsburg was renamed Centerville.[citation needed]

In 1867, Anthony "McQeen" Easterby purchased land bounded by the present Chestnut, Belmont, Clovis and California avenues, that today is called the Sunnyside district. Unable to grow wheat for lack of water, he hired sheep man Moses J. Church in 1871 to create an irrigation system.[citation needed] Building new canals and purchasing existing ditches, Church then formed the Fresno Canal and Irrigation Company, a predecessor of the Fresno Irrigation District.

In 1872, the Central Pacific Railroad established a station near Easterby's—by now a hugely productive wheat farm—for its new Southern Pacific line. Soon there was a store. Around the station and the store grew the town of Fresno Station, later called Fresno. Many Millerton residents, drawn by the convenience of the railroad and worried about flooding, moved to the new community. Fresno became an incorporated city in 1885. By 1931 the Fresno Traction Company operated 47 streetcars over 49 miles of track.[11]

In 1877, William Helm made Fresno his home with a five-acre tract of land at the corner of Fresno and R streets. Helm was the largest individual sheep grower in Fresno County. In carrying his wool to market at Stockton, he used three wagons, each drawn by ten mules, and spent twelve days in making the round trip.[12]

Two years after the station was established, county residents voted to move the county seat from Millerton to Fresno. When the Friant Dam was completed in 1944, the site of Millerton became inundated by the waters of Millerton Lake. In extreme droughts, when the reservoir shrinks, ruins of the original county seat can still be observed.

In the nineteenth century, with so much wooden construction and in the absence of sophisticated firefighting resources, fires often ravaged American frontier towns. The greatest of Fresno's early-day fires, in 1882, destroyed an entire block of the city. Another devastating blaze struck in 1883.

In 1909, Fresno's first and oldest synagogue, Temple Beth Israel, was founded.

The population of Fresno proper soared in the second half of the 20th century. It entered the ranks of the 100 largest United States cities in 1960 census with a population of 134,000. In the 1990 census it moved up to 47th place with 354,000, and in the census of 2000 it a"

 

Your Company could have discovered trucking receivables finance but most people may mistake what it is or much more importantly exactly what it can possibly do for your business. Receivable Financing likewise called receivables financing is a type of asset based financing that can enhance a business' immediate cash flow needs. This is not a loan; no debt is assumed by trucking receivables factoring ,and the financing is unconstrained. Factoring For Transportation Companies in Discount Receivables California Factoring Companies at Account-receivable-financing.org- supporting factoring construction services california-factoring-companies

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For pretty much any firm in this circumstance, the problem can come for waiting for work to lapse and actually be compensated into your balance. Statements, checks, and the like can take some time to actually to be taken care of which can certainly leave you with short-term capital troubles. Fortunately, there are alternatives out there for firms to consider-- and one of these is factoring companies.

 

 

Factoring Companies Reviews at Rjbstudio.Com

Freight Broker Factoring Companies

Factoring companies will, in trade for your bill of sales, grant you with the cash right away in order that you don't need to worry about the lingering duration that could make paying out the bills and acquiring materialsmore complicated. With this style of arrangement, invoice factoring can come to be extraordinarily helpful for lots of establishments who ought to avoid a money ploy which they have discovered themselves in.

 

 



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The economy of California is large enough to be comparable to that of the largest of countries. FY 2011[update], the gross state product (GSP) is about $1.96 trillion, the largest in the United States.[102] California is responsible for 13.1 percent of the United States' $14.96 trillion gross domestic product (GDP). California's GDP is larger than that of all but 8 countries in dollar terms (the United States, China, Japan, Germany, France, Brazil, the United Kingdom, and Italy). California's GDP is larger than the GDPs of Russia, India, Canada, Australia, and Spain; in terms of Purchasing Power Parity,[103] it is larger than all but 9 countries (the United States, China, India, Japan, Germany, Russia, Brazil, France, the United Kingdom, Italy), larger than Mexico, South Korea, Spain, Canada, and Turkey. In terms of jobs, the five largest sectors in California are trade, transportation, and utilities; government; professional and business services; education and health services; and leisure and hospitality. In terms of output, the five largest sectors are financial services, followed by trade, transportation, and utilities; education and health services; government; and manufacturing. Agriculture is an important sector in California's economy. Farming-related sales more than quadrupled over the past three decades, from $7.3 billion in 1974 to nearly $31 billion in 2004.[107] This increase has occurred despite a 15 percent decline in acreage devoted to farming during the period, and water supply suffering from chronic instability. Factors contributing to the growth in sales-per-acre include more intensive use of active farmlands and technological improvements in crop production.[107] In 2008, California's 81,500 farms and ranches generated $36.2 billion products revenue.[108] In 2011, that number grew to $43.5 billion products revenue.

 

Freight Forwarding Factoring

For pretty much any firm in this circumstance, the problem can come for waiting for work to lapse and actually be compensated into your balance. Statements, checks, and the like can take some time to actually to be taken care of which can certainly leave you with short-term capital troubles. Fortunately, there are alternatives out there for firms to consider-- and one of these is factoring companies.

 

 



Invoice Factoring Companies Reviews at Olympicfactor.Com

 

 

 

Accounts Receivable Factoring Rates

 

Accounts Receivable Factoring Rates

 

At one time or another, every company, even effective ones, have experienced bad cash flow.

Money flow does not have to be a problem any ever more. Do not be deceived -- banks are not the only locations you can get financing. Other options are available and you do not have to borrow. Exactly what is truck factoring ? One solution is called truck factoring. Trucking Factoring is the process of offering invoices to an investor instead of waiting to gather the money from the client. Oh, the Irony- Truck factoring has an ironic difference: It is the financialfoundation of many of America's most successful businesses. Why is this ironic ? Because receivable funding is not

instructed in business colleges, is seldom mentioned in company strategies and is fairly unknown to the majority of most of American business people.

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Yet it is a monetary procedure that frees billions of dollars every year, enabling thousands of companies to grow and prosper. Receivable Loan Funding has been around for thousands of years. Receivable Funding Businesses are financiers who pay cash for the right to get the future payments on your invoices. An unpaid receivable or invoice has value. It is a financial obligation your customer has agreed pay in the near future. Factoring Principals--Although factoring offers exclusively with business-to-business deals, a big percentage of the retail company uses a factoring principal. MasterCard, Visa, and American Express all utilize a form of factoring in their retail deals. Utilizing the purest meaning of the word, these big customer finance companies are really simply big Invoice Factoring Businesses of customer paper. Think about it: You make a purchase at Sears and charge it to your MasterCard. The shop makes money practically immediately, although you do not make payment up until you are ready.

For this service, the charge card business charges Sears a fee (typical common normal fees vary from 2 to four percent of the sale). The Advantages Accounts Receivable Factoring can offer many advantages to cash-hungry business. Instead of waiting 30, 60, 90 days or longer for payment on a product that has actually already been delivered, a business can factor (sell) its receivables for money at a small price cut off the dollar value of the invoice. Payroll, marketing efforts, and working capital are simply a few of the business needs that can be satisfied with instant  money.

Factoring offers the means for a producer to renew stock and make even more items to offer: There is no longer a need to await for earlier sales to be paid. FACTORING is not simply a money management tool for producers: Almost any type company can take advantage of Commercial Factoring. Generally, a company that extends credit will have 10 to 20 percent of its annual sales bound in accounts receivable at any given time. Think for a moment about how much is bound in 60 days' worth of invoices: You can not pay the power bill or today s payroll with a customer s invoice, but you can sell that invoice for the cash to satisfy those responsibilities. Using truck factoring companies is a fast and simple process. The factor purchases the invoice at a price cut, usually a few percentage points less than the stated value of the invoice.

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The U.s. Truck Association
mentions that there around
200,000 work with freight trucking
businesses and
250,000 private companies trucking
companies accredited to
run in America that carried,
according to their newest listings of millions of
products, supplies and
basic products .
There are numerous common
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teams on our country
highways transporting these
vital items to our
stores, manufacturingplants and shipping ports.

Also  freight invoice factoring
corporations benefit
numerous of them and offer their
factoring services
nationwide comprising
including the following states.


: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware,Florida,
Georgia, Hawaii, Idaho State,Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine,
Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska,
Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina,
North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina,
South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia,
Wisconsin, and Wyoming

California Factoring Companies

 

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Commercial factoring company Calculator
This calculator will show you how much you will make by using our commercial factoring company . But, as your about to discover, you will certainly notice the increased cash flow that will occur when you use our commercial factoring company
Enter the principal balance of your commercial factoring company
(call your commercial factoring company lender and ask for the current payoff amount):
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(invoice amount):
Enter the your commercial factoring company's current interest rate:

Searching for the right trucking companies to move your freight can be tough, with the large amount of local, regional, and national truck carriers out there. Center helps make freight shipping simple, finding you the safest, reliable trucking companies every time you ship. Trucking companies are licensed and insured to carry freight safely and efficiently across the country, no matter the size or type of freight you need to ship.Plus, with the high volume of freight we move, we will work to get you the best freight rates possible. Simply enter in a few details below and you�ll see instant freight rates from all the top trucking companies in one easy screen

 

Life of a Truck driver, like many other professionals can be very challenging, rewarding, and frustrating at the same time. �The com� is an information site for many of the Truckers needs. It is designed to encompass the needs of the Trucker, both on the Road and at Home.

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EveryJob is a free service dedicated to helping professional truck drivers find new truck driving jobs with the best trucking companies hiring today!

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If you're like most drivers, you're looking for a better company in trucking that might be offering the best jobs in terms of pay, freight, and hometime ' not to mention benefits or a sign on bonus. We've got all of our clients listed based on the states where they're hiring, so you can quickly find the best job in your home state. You'll see the very best nationwide trucking companies that have positions available.

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"

�So It is not a loan?� Dave Arnold asked as he leaned back in his chair, crossing his legs. The woman sitting across the desk from Dave smiled at him, shaking her head.�Not quite,� she said.Dave Arnold owned a small trucking company, and his business had recently fallen on difficult times. Trucking could be a profitable business, and for a little under a decade, it had been for George. His company was called Taylor Trucking, named after both of his grandfathers, Daniel and Isaac. Both of these men had been very hardworking and had set a great example for George.Six months ago disaster struck George's business when two out of his fleet of fifteen trucks were taken off the road.

 

One was involved in a very costly accident, and the other simply rolled over, and headed to the trucking graveyard. The financial security of George's company relied on his full fleet on fifteen being on the road, and missing two trucks was just devastating . Furthermore, buying a whole new truck and fixing the other simply took more cash than Dave had on hand.Paying of bills in the trucking industry is always a major cause for concern for businesses.

 

You could go a month or more before bills were completely paid off. This system works okay as long as no problems arise, but if they do, then things can get quite sticky.Dave wasn�t a bad owner, and he hadn�t messed up. Certain events had occurred that he could not possibly have predicted, and now he had to find a way to protect his business and prevent it from ultimate devastation.That�s where the woman across the desk came in. Her name was Maureen and she worked for a factoring company. He had accidentally come across her company one night when he was working late, searching the internet to see if there was some solution to his financial dilemma.She sat there now, and explained. �it is really not a loan at all: we actually buy your accounts receivable. we are not giving you finance to be repaid later: we are purchasing something from you, and when you can you can buy it back. That way we�re protected from a complete loss, but you�re protected from the outrageous fees you would find in a loan from the bank.Dave nodded. It sounded good to him, almost too good.The woman laughed. �I'm not sure that you believe me,� she chuckled.�No, I do, I just think it sounds a bit too good to be true. I thought I was going to lose my company.�Maureen nodded. �We get that a lot. Listen, I�d hate to see you lose your company. You work hard, you�ve put everything you can into it. We all need help sometimes. That�s what we�re here for.""Well, I'm very grateful that you came to see me today.""It�s right down the road, usually we do it all online, but I didn�t mind swinging on by today,� Maureen said with a smile. �Let�s see what we can do to help you.�And with that they set about making a profile.

 

Dave filled the form out, with Maureen available to help him if he needed it. The completed profile gave Maureen and her company all the information they needed on George's business, and with this information they would determine if this business would in fact be suitable for Factoring. In truth, not all companies were. Some were beyond factoring special brand of help, and sometimes things weren�t even dire enough for it. As Dave completed his form, Maureen listened to his story and she felt quite sure he would be the ideal candidate for Factoring.Maureen took the completed form and placed it in her briefcase. Standing up, she reached over the desk and shook George's hand. He also stood up, and they smiled at each other. They said their goodbyes and Dave walked her to the door, and then returned to his office.All his staff members were there, all seven who worked in his office. Sitting behind his desk once more he could hear the familiar sounds of his office workers going about their daily business.He leaned back and closed his eyes. He felt so drained: he had been flailing helplessly for so long, he just knew his business was going to collapse and probably take him with it. Talking to Maureen though, learning about factoring, it felt like a weight had been lifted from his shoulders. He sat back in his chair and ran a hand through his graying but still thick black hair.The long nights, where he couldn�t sleep. The terrifying panic attacks that occurred regardless of where he was. Already he could feel all the stress start to drain away. He wasn�t out of the woods yet, there was still a lot of work to be done, but he could feel it. He was there, he was on the right path, and he was working to make things right.Dave couldn�t help but think back to when he had first started the business. He had opened a restaurant at age twenty two when he was fresh out of school. It had been really successful. Home cooking in his hometown, and he had done very well.But he had gotten bored. He wasn't passionate about the food industry. He thought long and hard, and then he decided to sell the restaurant. He took half a year off, and in that time he thought to start Taylor Trucking. So he did it. For the second time in his short life he created a company from the ground up. He had been successful.And then the trucks went down, and his success looked to be in flux. He was about to turn fifty. He was concerned that he just did not have the energy left to try and save the business. But giving up wasn't part of his personality either.

 

Just the thought of shutting down, cutting his losses, laying off his workers - the whole thing made him physically sick some nights. He didn�t know how to say quit.And now, because of factoring, he was sure he wouldn�t have to. George's eyes opened, he sat forward in his chair and turned on his computer. He had lots to do. There would be plenty of time later to be thankful, but for now it was time to get back to work.

 

"

 

 

 

 

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Trucking Factoring Rates

 

"

Wagner Truck & Haul have been operating their business since the mid 1980s. They've delivered goods for nearly every major industry in the nation and for 20 plus years, business was booming as they've traversed the country in all weather for all clients. During the boom times from 2002 to 2007 Wagner Truck & Haul was the mastermind of a top-rated accounts receivable in the trucking industry. Very few customers were behind on their bills, and those customers who were late turned in their overdue payments within an acceptable time frame. Cash was flowing and times were good for all.It was just one year later, in 2008, when the economy in the United States took a sharp decline, and both large and small businesses started to notice the squeeze on their pocketbooks: everyone had suddenly gone silent. Business slowed down. Worse still, it was noticed by Wagner in early 2008 that even though most of their loyal customers were on time with their payments, there were a few late bloomers who were starting to spread the disease. And as spring turmed to summer and summer into the early days of fall, Wesley Pearson, CEO of Wagner felt a chill go down his spine whenever he would look at the weekly A/R reports. There was a growing list of clients who now owed them back debt.He had gone to his administrators and asked them what the problem had been. Were they doing something wrong or different when it came to reaching out to delinquent accounts? By his bookkeepers records, this wasn't the case. He thought perhaps that he was losing clients to a competitor who offered rock-bottom prices with little to no guarantee of quality performance, and that the folks who owed Wagner money had jumped ship and decided to leave him holding the bag.

 

. They could not afford to pay him their debt, but they could afford a lesser service, maybe. But after doing the cursory research for this and talking to friends in the field, he found that alas, no, customers of Wagner hadn't gone elsewhere. The had just gone!.This current state-of-affairs was causing Wesley Pearson to have some very restless nights. There were goods to ship, employees to pay, trucks to repair and maintain, and continuous overheads that were very extensive when compared to the funds (or lack of) that were incoming. After work he would confide in his wife, Dolores, and neither were unable to stop the constant worry over the lack of funds.""Lin, I have a really bad feeling,"" he would say with deep woe.""Well, what do you think it is?"" she would say.Wesley would stare off for a moment and then close eyes. He could see the fleet of trucks he had purchased over the years. He could see them traveling, bringing goods to all of his clients. But somewhere, a haze would form over his fleet and the vast number of vehicles would disappear to but a few. What could cause this ultimate death spiral of business?""I know what it is,"" said Wesley. ""For way too long I've been relying solely on profits received from invoices. For too long I've been allowing our clients to let their accounts become overdue."" Dolores would look at her husband lovingly, and holding his hand would say 'it is such a harsh economy these days and our clients must be having difficulty meeting their responsibilities'.""Wesley knew his wife meant well, but he knew that he was responsible for too many people to sit idly by, waiting for the sun to peak over the clouds.The following day Wesley walked into his office with a spring in his step, determined to call each and every client who owed money to Wagner Truck & Haul. This wasn't really a very efficient way for a Chief Executive to spend his day, and Wesley knew he should be overseeing all the other sides of the business, such as shipments and deliveries, approaching prospective customers, or working with his sales team. Even though he was doing something to help his company, he knew he had folks on salary to do just this thing. A waste of time - a waste of money - he had the best intentions, but all the while Wesley was realising just how much trouble he was in.Poor Wesley spent the whole morning trying in vain to contact his debtors: they promised to call back, dodged his calls, or made small interest-only payments. He was beginning to feel quite despaired when his secretary knocked on his door.

 

""Wesley, can I have a word?"" she queried, standing in the doorway.

 

""Of course Geraldine, please come in."" Wesley relaxed back into his chair and looked up at Geraldineerley.""Well, I did a little searching this afternoon and tried to figure out a way out of this mess Wesley."" She opened up a folder she had been carrying and pulled out a small wad of papers, placing them on the desk in front of him.""Have you ever heard of factoring?"" Geraldineerley asked.""It sounds vaguely familiar. What is it?"" he said.""Well,"" she began, ""It�s actually quite simple really.

 

Basically, factoring invoices means that we would get paid immediately for the loads we haul.""Immediately?"" Wesley interrupted.""Yes, immediately,"" she continued, ""In a nutshell, it is pretty easy. We start by having a professional account manager review our figures and help us set up a company profile. Included in the profile would be the investigation of our accounts receivable aging reports, our current customers' credit limits etc.. In addition, factoring will assist in determining our customers' creditworthiness, independent from their credit relationship with our company. It�s a broad view.""I see,� Wesley said. �And then what?""Well, after their review, and we�re approved for a factoring contract, we can negotiate terms and conditions. You'll be surprised at the amount of flexibility, all dependent upon the credit histories and business volume.

 

This company tells us what the cost will be to purchase factoring for our accounts receivable. Once we arrive at a mutual agreement, the funding begins.�Wesley leaned forward and reviewed the paperwork closely.""I do not know, Geraldine - it just sounds too good to be true"", Wesley said quietly.""Yes, I know; that's exactly what I thought at the beginning. But think about it, Wesley: they've guaranteed that experts will do all the paperwork, and that will free us up to do what we should be doing - focusing on our customers in good standing, and that kind of stuff. They appear to be very flexible, Wesley,"" she underlined a paragraph on the paper before him.""Just how flexible?"" he asked.""They personalize the factoring rates so that the amount they are willing to take on is commensurate with our needs and our client�s debt. It only takes 2 to 4 days for this to be figured out. ""That sounds pretty good, seeing as we tapped ourselves out with bank loans last year to repair the fleet and money sure is tight. it is imperative that we keep the business rolling as usual, and every day we go unpaid we are getting closer and closer to dealing with some serious issues in both the short term and the long term,"" Wesley said.Wesley took in a long slow breath, then looked at his secretary with something like hope in his eyes.""Precisely�. This could very well be the answer to resolving the problems we are having with these clients who still owe us money.""Wesley thought about this and agreed with Geraldineerley. The customers who were in debt to Wagner Truck & Haul were professional resources of the company, but they were also long-standing friends. Wesley wasn't prepared to lose these relationships just because they were having financial issues at the moment. Wesley knew only too well that the whole economy was floundering, and that it was not going to change overnight. That unknown amount of time could create a disaster situation for both of them if he wasn't careful in how these debtors were handled. Of course he did not want to lose any more money, but he did not want to lose business either.""Let me go over this tonight Geraldine, and thankyou."" Geraldine nodded, stood up and left the office feeling that she had helped her employer keep on his shirt and hers too.Wesley sat behind his desk and looked over the details Geraldine had not mentioned in their meeting. What other issues could freight factoring help Wagner with? With his pencil gliding down the sheet he noticed that the factoring company could help fray the cost of fuel with fuel discount cards and fuel advances. In fact, Wagner could receive up to fifty-percent cash advances upon load pick-ups. As a man who hated binding contracts with no room to breathe, he was pleased to see that this factoring company would not make him sign a long term contract, would not make him pay any sign up fees and there was no minimum volume required.""I must tell Daniel the good news,"" muttered Wesley to himself.Daniel is Wesley's son-in-law, and he really admired the ideas behind Wagner, so much so that only two years before he had started his own transportation service business. Wesley knew then what struggles Daniel would face but he encouraged him nonetheless. With the economy the way it was, if an established company such as Wagner was struggling then the little guys, like Daniel, were going to be in even more trouble. But, an antidote may have been found in freight factoring and Wesley was soon to find out.A few short months later, after completing the application process, having the legal experts review his credit history, accounts receivable, and statements, finally Wesley was beginning to find his way out of the hole his debtors had created for him.They took on reasonable factoring purchase contracts and stopped spending their precious man hours scrambling to collect debt. They used that time to refocus their efforts in being competitive in new territories. Wesley looked back on the dismal months of life before freight factoring and almost shuddered at the thought. He probably wouldn't be in business today had he not learned just in time about freight factoring.

 

"

 

 

 

 

 

 

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Truck Driver Factoring

 

The key reasons why Truck Agencies Use Factoring Companies.

 

As the owner of your own business, you may likely be more than perceptive already of the challenge in making certain that cash flow concerns do not become a problem down the line. After all, the toughest thing that can potentially transpire for your firm is to find yourself swept up in a long and tough condition that leaves you forever looking for the money you need to have on an continual manner.

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For pretty much any firm in this condition, the trouble can come for waiting for work to lapse and actually be compensated into your statement. Bill of sales, checks, and the like can take a while to actually to beprocessed which may leave you with momentary cash flow dilemmas. Gratefully, there are options out there for industries to check out-- and among these is factoring companies.

 

Factoring agencies will, in substitution for your accounts, offer you with the money today to make sure that you do not need to fret about the delaying phase which could make paying out the bills and acquiring toolsmore hard. With this kind of setup, invoice factoring can become remarkably beneficial for a lot of enterprises who have to avoid a cash lure which they have gotten themselves in.

 

Given that, relying on the volume of the project, it can take up to 60 days for a number of business enterprises to get compensated then it is necessary to take care of your own back and not leave yourself money short to pay the expenses. After all, how many companies possess two months revenue just occupying there to deal with all their bills until they earn?

 

This is most notably correct of trucking enterprises. They usually take care of great deals of accounts which means a notable volume of collection time entails business owner themselves. Seeking to get paid out in time can develop into an incredible headache and this is exactly why you work with trucking factoring providers who are glad to help out truckers mainly.

 

As all of us determine, trucking is an unbelievably massive market with lots of organizations out there employing hundreds of vehicle drivers. The sad thing is, plenty of these drivers end up in finances difficulties considering that they are still waiting on work from six weeks earlier to actually pay them. When this is the scenario for a trucking company, turning to factoring providers for assistance could be the most suitable alternative left.

 

This signifies that a truck corporation can provide the wages of the staff, keep all the cars refilled with gas and continue to surmount, progress and expand without consistently waiting for the funds which is taking too lengthy to come in. Trucking Establishments operating without a factoring system implemented are leaving themselves at considerable threat, as competitors cash out fast and continue to grow.

 

There's honestly very little to be distressed about when it comes to employing a Factoring agency-- they commonly are not like a financial institution or somebody who is going to leave you with a substantial mound of liability to repay. You give them legitimate invoices from output you have already wrapped up , you are only just speeding the payment system.

 

In the Usa, where truck enterprises prosper, factoring providers are not considered taking on loan in any capacity. This private deal then permits both parties to profit and experience a worry-free future-- it provides the factoring business a guaranteed resource of income to include in the list and it furnishes the trucking firm the needed finances that they sweated to acquire.

 

The trucking enterprise bestows their statements to the factoring enterprise. The trucking factoring firm then collect the payments from the trucking company's clients. Factoring has beenaround for centuries and has been adopted for decades by several different markets-- but none more so than truckers. While you might possibly miss out on a small part of the money, something like 1-3 % depending on who you partner with, it signifies that you are acquiring the resources today and can actually start off putting the money to perform.

 

After all, an IOU or an invoice is certainly not going to cover bills, is it? For trucking enterprises when the cash can be excellent one day and gone the next, it is up to the vehicle drivers to work sensibly and to make certain they are leaving themselves with a notable amount of time and money to get through the week up until they are paid for once again.

 

So the next moment your trucking enterprise is bearing some short-term cash flow problems and you are shelling out too much time chasing slowly paying customers, why not start considering using a factoring companies as a way to get your finances and give yourself a more convenient future in the eyes of your trucking workers and your bank dividend?

 

 

 

 

 

 

 

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Freight Bill Factoring

 

The Future of a Trucking Company, and Factoring Jerry Nelson let the phone ring on his desk. He let his morning coffee cool and left his cigarette to ash itself in the tray, because he is trying to make the biggest decision ever for his trucking company. Nelson Trucking Company had reached a turning point and he now had to make a decision as to whether he should sign up with a factoring company, and indeed if this would be a good or regrettable decision for his business.

 

Jerry�s father had started as an owner-operator and had grown Nelson Trucking Company into a fifteen trailer fleet over forty years. There had been some hard times when it seemed everything was going to go under and even Jerry�s mother strapped herself into a cab to make hauls. His father had lived long enough to witness the price of hires drop during the recession and watch the eruption of fuel prices afterwards. Now the company was solely in Jerry�s hands and he wanted to live to see it in better shape for his sons.

 

To move Nelson Trucking Company ahead into the future, he needed a steady cash flow but there was just not enough money to go around. He had employees to pay. They all have families and the usual household bills. Some of the refrigerated trailers were in need of repairs and he felt to stay competitive it was also a good idea to invest in specialized haulers to be ready for the constant requests he was getting for loads of new energy and agriculture equipment. He knew that turning down these requests made Nelson Trucking look inefficient and weak in what was currently a strong market.

 

He knew what his father would have said - 'wait, take your time before adding new technology'. Jerry chuckled, thinking about his father. He remembered when his father was totally against installing GPS units in the cabs. He would say, �Why do you need the voice of some woman to tell you to get off at an exit that has been the same exit that has been there for years?� He smiled to himself as he remembered his father poking fun at the other drivers who switched to automatic, even though automatic was quite obviously more efficient (though less manly). His father days were long gone and technology was actually an important improvement for the business such as having Qualcomm to cut down on fruitless time communicating on the phone for bills of lading.

 

Jerry knew he was right in his forward thinking. What would be the next step for Nelson Trucking? More importantly, how could he afford it? Funding was all tied up in the mortgage for the office and garage and in the fuel bills. Thankfully he'd just finished paying off the bank loan for the installation of satellite radio in the trucks.

 

He wondered about factoring - was this the answer for him? If he was being honest, he did not really understand how it all worked. It sounded like a ninth grade math problem and he wondered how this would fit into the trucking business. Factoring companies buy your invoices and manage your accounts receivable for a certain percentage of the invoiced amount. In return, the factoring company pays the trucking business straight away, providing immediate cash flow for the business to pay staff, purchase fuel, and do any repairs or maintenance. Without this assistance, you're placed in the position of waiting for payment from your customers, and this can often be thirty days, or more. During those thirty days the trucking company cannot pay its employees and bills with invoices.

 

Jerry had to really consider what his next step was going to be. He had heard of companies charging for same day money transfers, advancing a percentage of the money owed to your business, while the rest is held in a private account if the bill wasn't paid within sixty or more days. Worse still, if the customer defaulted on payment, the factoring company takes it out of the money supposedly coming to you! Through the grapevine, he�d also heard about how some companies suddenly slipped you onto a sliding scale of percentages even if you had already signed a lengthy contract for maybe 3% or 7% so there you are with 10% coming as a cost to you out of the freight bill. His friend Ronnie who had a trucking business in Missouri, was run nearly into the ground by a factoring company that charged him the full freight bill on top of the factoring fees. He knew he would have to be very careful if he was to avoid any of these shady companies?

 

But it turned out to be quite easy. When he called the factoring companies he discovered they were very open about their business practices, and very friendly and helpful. Their customer service actually knew things about their company and spoke in nice clear English so he could understand what was being explained. He didn�t mind signing an exclusive contract. He liked the idea of a long term commitment so he knew he wouldn�t have to bother going back and forth to different companies and wasting time filing more forms. Nobody charged him for credit checks and they offered him a fuel advance on the pick-up of the load. Many companies offered a non-recourse factoring program that suited him just fine. He was more than happy with the figures he was offered in percentage terms on the freight bills. It was good money.

 

It was really refreshing dealing with the factoring people. They were extremely helpful and more personable than the bank staff. He was relieved to note that the factoring companies understood the trucking business and discussed business with him like a respected client, not like someone looking for a handout. The factoring companies were not interested in his credit nor the financial problems his father had experienced in the past. Factoring was based on the credit of his customers and on their reliability which worked well for Jerry because he and his father had built up good strong relationships over decades with their list of clients. So he knew they would understand when the factoring company contacted them for the invoices. His clients would not have any problems, nor would they think poorly of Nelson Trucking, because the factoring companies handle themselves in such a polite and professional manner, similar to the way his father had managed the business in the past.

 

Jerry stepped out of his office to let his secretary know to expect the arrival of the factoring contract shortly. He felt exhilarated by the new possibilities that would make the future of the company fun again and put the stress of the difficult times behind him. He suddenly realized that, with this new cash flow, he could actually expand Nelson Trucking Company and who knows, move into Canada, which had always been his dream. He was a happy man again knowing that he had just made a decision which would guarantee the success of his business and his sons would not be inheriting a financial mess.

 

 

 

 

 

 

 

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Accounts Receivable Lending Companies

 

Date Published- 2014- 01-21 Freight Broker Factoring Companies

 

"

Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

"
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"

Bank Loans

 

Bank loans are an extremely traditional way for a business to get financing. These loans can be a life-saver, but they're not always available to every business. For example, a fairly newly established business simply may not have the assets to readily get a loan from a bank, even if they do, the standard collateral for a business loan is the business itself, which means that if you cannot make your loan payment, you risk losing your entire business. In addition, while you apply for a certain loan amount, that is all the financing you are entitled to. Of course, once that loan has been re-paid, you can always re-apply for another loan.

 

Trucking Factoring Companies

 

Trucking Factoring companies do not give loans, and the money you get from the Trucking Factoring company does not put you in debt. The finance you receive from the Trucking Factoring company is determined by money already earned by your business, but not yet received. The Trucking Factoring company purchases your accounts receivable, or part of them, for a certain percentage of their value - this is normally about 80-95%. The amount of money you can receive is based on the amount of money you have earned and the accounts receivable you are willing to �sell.� Once you have set up Trucking Factoring account it continues as long as you wish it too and the amount of money available to you even can grow as your business grows, giving you the ready cash you need to meet your own obligations.

 

What Are The Benefits Of A Trucking Factoring Company Versus A Traditional Bank Loan?

 

Not every business can benefit from Trucking Factoring account financing because you have to have a business with accounts receivable, however there are many benefits for those who can access this type of finance.

 

1. You will not Incur Debt. You do not incur debt as you do with a bank loan because the Trucking Factoring company actually purchases your accounts receivable. One of the main benefits of this kind of financing is that your business credit rating and your personal credit rating will not be affected. Should the unforeseeable happen and your business fails, you will not have to worry about anyone coming after your personal as well as your business assets to pay off a loan. The debt goes onto your credit report with a bank loan, with only one missed payment adversely affecting your business credit: it would also affect your ability to secure insurance, and may reflect on your personal credit rating as well.

 

2. No Collateral Required. Another benefit of using a Trucking Factoring company instead of a traditional loan is that you are not required to provide collateral to the Trucking Factoring company in order to secure financing, because the company �buys� the accounts receivables; not loans you money based on them. Plus, the state of your credit rating is not an issue; however the Trucking Factoring company will run a credit check on your clients whose accounts receivable are being offered for financing. This means that it is easier for new businesses to access the finance they need through a Trucking Factoring company, providing their accounts receivable are in good order. A bank may believe you haven't been in business long enough to be able to cover this risk.

 

3. Receive Your Money Faster. With a Trucking Factoring company you can actually get the money you need faster. The money will normally be in your account within 24 hours, once the Trucking Factoring company is confident that your customers� accounts are likely to be paid. With a bank, there are vast amounts of paperwork, then the loan has to be underwritten, which can take months before you actually see the loan if it is approved.

 

4.Interest is Paid Up Front. With a bank loan interest continues to build, and this has to be paid the whole time you have a business loan; however with a Trucking Factoring company there is no interest - they take it right off the top by deducting it from the total amount of receivable accounts. So you do not have to worry about monthly loan repayments, and you do not have to worry about the amount of interest payable, because all the money in the account is yours to spend.

 

As you can see from the above, there are some great benefits to financing through a Trucking Factoring company, and not through a traditional bank loan. However, there are also a couple of other benefits that a factory company can offer your business is far beyond the scope of the bank. The most important benefits is that once you sell your accounts receivable to the factory company, you do not have to take time away from running your business to collect the money owed from reluctant to pay customers. The Trucking Factoring company takes over that chore, since it is now their money to collect. Trucking Factoring companies are very good at collecting these debts, saving you the time and effort that you need to devote to your growing company.

 

In addition, since the Trucking Factoring company evaluates the credit quality of your customers prior to purchasing the accounts receivable you gain valuable information into which customers are likely to pay and which ones are not so likely to pay.A Trucking Factoring company is not the only method of gaining access to finance for the running and growing of your business, however it does offer a financing option well worth considering.

 

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