It happens often, you deliver your load, you invoice your broker, and the wait-time to get paid begins - and this is exactly the reason you hire an exceptional factoring company like Thunder Funding, to eliminate the wait-time and save you the trouble of collecting the money from your invoices. However, as a valued client, Thunder Funding encourages you to make good credit decisions based on the current credit conditions and financial stability of any shippers or broker BEFORE accepting a load.
If you fail to do a credit check before accepting a load, you run the risk of your invoice not being factorable; then it falls on your shoulders to chase down unpaid invoices and deal with the additional stress associated with not having enough cash flow.
You can easily run a credit check several ways:
Via Phone 800-240-4140 - We can help you with credit inquiries over the phone between 7am-5pm PST, M-F
Via Email - firstname.lastname@example.org
123Loadboard - All credit information found on 123Loadboard is being pulled directly from our system
Performing routine credit checks is an excellent business practice and it will save you lots of time and trouble, and it will help you get your money even faster!
Do you run routine credit checks on your brokers and shippers? Tell us in the comments below.
For more information about broker and shipper credit checks be sure to check out this blog post: The Importance Of Broker And Shipper Credit Checks.