What is the difference between using credit analysis provided by 1st Commercial Credit and using a Score Card Credit Report?

If you own a trucking fleet, you are probably familiar with payment history provided by the Credit Score Card system assigned by various load boards including this one. Sometimes "good" freight brokers are identified by a green light, "bad" ones with a red light. This system has been accepted by small fleets and may or may not be viable for your business in extending credit.

What does 1st Commercial Credit offer in addition to payment history? 1st Commercial Credit provides cash flow to trucking companies by factoring freight bills (Receivables). We maintain and have access to over 12,000 freight brokers within our own proprietary real-time database. Our first-hand collection experience allows us to not only track payment history, but also provide our clients with a credit limit (expressed in dollars) for all freight broker inquiries.

In other words, we may assign a modest credit limit to a small freight broker with modest financial wherewithal as long as it pays its bills on time. We may assign a very large, 6-figure credit limit to a well-capitalized freight broker that pays its bills on time. Both would merit a green light under the score card system, but without the credit guidance, how would you know how much credit is safe to extend that broker? Should you pull one load or should you pull ten loads per week? If all you intend to do is one back haul, maybe a green light is sufficient. But what about five loads? Ten loads?

Freight Broker Credit is a moving target. A "good" freight broker today may be a "bad" freight broker tomorrow. Indeed, the status may change very quickly. 1st Commercial Credit offers real-time payment history and credit analysis that is vitally important in preventing bad debt.

In summary, our clients benefit by factoring their freight bills by immediately converting their outstanding receivables to cash flow within 24 hours on all (100%) of their credit worthy accounts. In addition, they can obtain free credit analysis (not rely on Score Card Credit Reports) and grow their business without borrowing money.

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