Comdata line of credit

You shouldn't even need to bring up the whole cash advance money for fuel when the load is picked up to a broker. That will raise alarm whistles as to your poor cash flow situation, even if you really don't have a cash flow problem. The only thing you should do, if you need the money quickly, is occasionally use quick pay from brokers. This wiring the money is just a hassle for them and is another obstacle for you to overcome as the new guy to the broker. You want to make it easy for them to give you the load, the less hurtles there are, the more repeat business you will get.

As for the fuel card, it will depend on your company's credit ... I just set mine up at the start of Feb, and they straight up told me because my company is too new, the only way I can do it is to prepay the account. I am cool with it. It is working well.

 

To be honest, I think you're over-complicating it. I find it much better to keep the transaction as simple as possible. I haul the load, you pay me when it's done. The less accounting there is on an invoice, the more likely it will be paid in full.

Start getting complicated with bank wires and advances, now there's all sorts of new angles for someone to exploit when they either want to pay slow or not pay at all.

 

Can anyone share with me their experience in collecting the invoice? My assumption, you get a load from a broker, then you send invoice to customer, then they mail you a check? Is this how it works, or are there several scenarios?

Thanks,

 

Question. I am in the process of getting my own authority. Also I just incorp and formed an s corp. I have good personal credit but because I formed a corp will that even be considered for business credit? Thanks.