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Freight Group

Public • 236 • Free

2 contributions to Freight Group
Factoring
I’ve been in business 12 years and have never factored anything. Those that do Factor What is the biggest motivator for you? Cash Flow? Collections? Your Credit? Anything else? Is it worth the percentage you pay out and that’s not hitting your books as part of your profit?
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19
New comment Jun 26
4 likes • Jun 25
Oooo bring on the factoring questions!
6 likes • Jun 25
@Bill Robinson we’ve seen exit clauses with buyout fees of over $400k for a $500k/mo volume brokerage - be careful of predatory contracts in factoring, the contracts can be quite long and hard to read - chatgpt can help!
Carrier Broker Authority
Heard one of the Validation platforms tell me they were going to Red Flag all carriers who also have a brokerage out of the same location as their carrier. Why? The FMCSA allows a carrier to apply for brokerage authority. You can have a DOT number and have 2 separate MC numbers one for the brokerage and one for the carrier. So the setup is legal and legit. I happen to have both separate. I’m old school got my authorities before they allowed the combination. I have my brokerage with DOT number and MC And my carrier with its own DOT and MC. But why the idea that if they operate together out of the same location than it’s a high risk double brokerage issue and should be red flagged in their system?
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38
New comment Apr 25
2 likes • Apr 21
This is really sad we have plenty of clients who have broker and carrier arms with authorities for both - it keeps the books cleaner, helps them utilize their assets well, etc.
1-2 of 2
Sean Smith
2
7points to level up
@sean-smith-7660
Hi I’m Sean, I typically go by Product Sean or PSean. I look after Product at Denim, a factoring and payments tech company for brokers and fleets.

Active 77d ago
Joined Apr 15, 2024
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