New Broker Problem...Please help!

Hi Everyone,

I am a new Broker with no Credit Rating yet. I have loads but carriers do not want to move them because I don't have a rating. I also had a carrier tell me that he cannot move my load because he uses a factor and the factor requires that I am in business a minimum 1 year. Is this true? How am I going to establish a good Credit Rating if no one will move my loads? I understand being a new broker I am a risk and no one trusts me. Can anyone give me some input on how they overcame this?

Thanks in advance

 

i would like to know the answer myself.

a new truck with his own authority faces the same dillemma.

it's as if the gooberment doesn't want to see new start ups in the trucking industry.

 

You will most likely have to pay the truck 40-50% at loading and cod on delivery to establish credit. Then ask those carriers to send in a report to the credit agencies for you to show you paid.

 

I have heard that some brokers have to pay COD to carriers to get them to start with you.

Maybe if you had some shorter, less expensive loads, you could do this with a few carriers and use them as a reference. Or maybe you could find new carrriers that other brokers won't use. Good luck.

 

get hooked up with the bigger ones like England, Werner, and JB they are always looking for trucks

 

Hmmm, never thought of that...that's doable. Thank you!

 

Somebody didn't do any research! Offer a quick pay program for no or minimal fees is the easiest way. You are a huge risk in an industry that regularly sees new brokers sell and move a bunch of loads, collect the money and skip town. The 75,000 bond was designed to help curtail that. If you don't have the reserves to quick pay, you can always factor your invoices the same way truckers do, but it costs $$$.

 

It has zero to do with the government. I despise Washington as much as anyone, but they give us enough reason to dislike them that we don't need to be making up reasons.

 

Thanks for your input. It's nice to get so much valuable and positive information from others like yourself. Have a wonderful new year.