Young brokerages and those attempting to rapidly scale their businesses often end up taking out loans to cover their costs and finance their carrier payments. The terms that accompany these loans — including high interest rates, strict payback periods and restrictive covenants — can become burdensome for brokers and may actually hamper rather than enable their growth.
Many brokers rely on these types of loans to help them pay carriers and staff when growing in the industry.
“Carriers and...
Northwest Arkansas has beautiful scenery, unlimited gorgeous sunset views and a one-stop shop for all of your software needs. Not only is there a plethora of networking opportunities, there are vendors there ready to help with any issues a business is facing.
A major attraction of FreightWaves’ The Future of Supply Chain live event in Northwest Arkansas on May 9-10 will be the seven-minute live demos. Here’s a preview of one of those demos.
The biggest advantage a shipper, broker, 3PL or anyone...
https://www.freightwaves.com/news/live-demo-preview-not-just-another-factoring-company-haulpay
Young brokerages and those attempting to rapidly scale their businesses often end up taking out loans to cover their costs and finance their carrier payments. The terms that accompany these loans – including high interest rates, strict payback periods and restrictive covenants – can become burdensome for brokers and may actually hamper their growth instead of enabling it.
Many brokers rely on these types of loans to help them pay carriers and staff when growing in the industry.
“Carriers and...
https://www.freightwaves.com/news/unlocking-brokerage-growth-with-digital-payment-financing
Whether you are a new company or an established one entering an aggressive growth phase, credit is everything. Potential partners want to know that a company has what it takes to stay the course, so working with a customer with subpar credit may be unsavory or even unacceptable for some.
“As our economy enters into an unprecedented period, having good credit has become more important than ever,” said ComFreight CEO Steve Kochan. “A couple of bad customers can essentially put you out of business.”
In an industry that is becoming increasingly digitized, customization is king. Brokers with the capacity to meet their carriers exactly where they are are more likely to keep them in their network, ultimately making the relationship more fortuitous for both parties.
Customizable payment programs – like HaulPay by ComFreight – offer brokers the opportunity to pay each carrier on a schedule that works best for them. Custom payment options allow brokers to offer quick pay when necessary while...
https://s29755.pcdn.co/news/customized-digital-payments-give-brokers-a-new-edge-to-excel