Archive of October, 2015

October 29, 2015
Like many college-bound students, Wood Kaufman had no idea what he wanted to do when he got out of high school. He selected his major for its practicality. He thought studying finance at the University of Arkansas would actually land him a real job – and it did with Bear Stearns in Dallas.    Little did he know that one day he’d be using that finance degree to help others chase their entrepreneurial dreams.    In 1997, Kaufman quit his job and moved to Oklahoma City to help his father’s business, Truckers B

Like many college-bound students, Wood Kaufman had no idea what he wanted to do when he got out of high school. He selected his major for its practicality. He thought studying finance at the University of Arkansas would actually land him a real job – and it did with Bear Stearns in Dallas.

 

Little did he know that one day he’d be using that finance degree to help others chase their entrepreneurial dreams.

 

In 1997, Kaufman quit his job and moved to Oklahoma City to help his father’s business, Truckers Bookkeeping Service, which provides permitting and DOT compliance services to help trucking companies stay in business.

 

With customers frequently asking whether TBS offered other services, such as selling insurance, TBS began expanding its offerings. In 1998, it started providing truck insurance through TBS Insurance Agency, and in 2004, it created TBS Factoring Service, to provide simple, flexible cash flow solutions with freight bill factoring. The service advanced cash to truckers the same day they delivered a load, enabling them to continue operating without waiting the typical 30 to 60 days for payment from brokers and shippers.

 

That service sideline has become Kaufman’s main mission.  Over the past decade, TBS Factoring Service has provided more than $2 billion in funding and has a 97 percent customer service approval rating.

 

Realizing factoring could help companies in other industries, the TBS family has expanded to include TBS Capital Funding.

 

It’s a good thing Kaufman studied finance after all.

Bryan Riordan* is having a bad day. He has been a small business banker for most of his career.  Came up through the ranks at a time when a handshake was as good as a signed contract.    Banking has changed a lot since he joined the industry more than 30 years ago, and not all of it for the better, in his opinion. He doesn’t have nearly as much discretion in to whom he can lend. And the hoops he has to jump through to keep the regulators happy. Sometimes it feels as if he works for the regulators, not the b
October 21, 2015

Bryan Riordan* is having a bad day. He has been a small business banker for most of his career.  Came up through the ranks at a time when a handshake was as good as a signed contract.

 

Banking has changed a lot since he joined the industry more than 30 years ago, and not all of it for the better, in his opinion. He doesn’t have nearly as much discretion in to whom he can lend. And the hoops he has to jump through to keep the regulators happy. Sometimes it feels as if he works for the regulators, not the bank, or its customers.

 

Today is one of those days....

October 21, 2015

For business owners, the promise of getting working capital without taking on debt or giving up equity may sound too good to be true. But the promise is real, and it can be realized with the simplest of transactions.

 

Is the cash your small business needs “locked away” in invoices for 30, 60 or 90 days?  Waiting for payment isn’t just an inconvenience. It can shut you down.  Invoice factoring can unlock your cash, converting invoices to working capital in an instant. Especially for small business owners, it can be a financial vehicle that allows you not just to survive, but thrive.  Factoring has been a staple of big business for years and has been growing rapidly among small businesses thanks to small business factors l
October 18, 2015

Is the cash your small business needs “locked away” in invoices for 30, 60 or 90 days?

Waiting for payment isn’t just an inconvenience. It can shut you down.

Invoice factoring can unlock your cash, converting invoices to working capital in an instant. Especially for small business owners, it can be a financial vehicle that allows you not just to survive, but thrive.

Steady cash flow is vital to growing a business, but the conventional route to secure it – getting a loan – can be difficult, and frankly, unappealing.  Stringent qualifying standards and paperwork hassle are high hurdles to clear. And with loans, there’s the burden of repayment plus interest.  But there is a way for business owners to get working capital and stay debt free: invoice factoring.  It all starts with an invoice – an unpaid bill for work you’ve already done. Factoring companies, such as TBS Capi
October 10, 2015

Steady cash flow is vital to growing a business, but the conventional route to secure it – getting a loan – can be difficult, and frankly, unappealing.

 

Stringent qualifying standards and paperwork hassle are high hurdles to clear. And with loans, there’s the burden of repayment plus interest.

 

But there is a way for business owners to get working capital and stay debt free: invoice factoring.

 

For entrepreneurs who have run into cash-flow problems or defaulted on previous loans, the chances of becoming part of a grim national statistic loom all too large.  Only half of all start-ups survive to their fifth birthday.  That’s reality, according to the Small Business Administration. But with the help of invoice factoring, you can avoid becoming another casualty.  Invoice factoring is one of the fastest growing funding options in the world. A recent industry report cited the global market for invoice
October 05, 2015

For entrepreneurs who have run into cash-flow problems or defaulted on previous loans, the chances of becoming part of a grim national statistic loom all too large.

Only half of all start-ups survive to their fifth birthday.

That’s reality, according to the Small Business Administration. But with the help of invoice factoring, you can avoid becoming another casualty.

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