When you are looking for loads and you don’t know whether a new broker is credit-worthy you can check credit at Transportation Funding Group at no cost!
You may log in to our website (24 hours per day) to look up a new customer or broker. Past credit information helps you determine if the customer is likely to pay his bill on time. The TFG online system tells you how long we have worked with the customer, what is presently open for this account, how they have paid their bills in the past (Average Paid Age), what the high credit has been, and whether the account is Non-Purchase or not. Our carriers appreciate having this valuable credit information available to them. You will too.
Transportation Funding Group subscribes to outside credit reporting agencies. If you cannot find information about the broker or customer online, contact us. We can run an outside credit report to determine if the customer is creditworthy.
When our carriers choose to haul freight for a new broker or customer, they will often decide to secure part of the load upfront in the form of an advance. This minimizes your exposure until you have determined how and when the broker actually pays its bills.
TFG will work with you to establish reasonable credit guidelines when you work with a new broker or customer.
If a bill ultimately becomes uncollectable, TFG will sell the bill back to you. We charge the bill back by offsetting the bill against your next schedule of new bills. We credit the reserves that exist for the chargeback bill and the net adjustment to you is deducted from your next settlement.
A broker or customer will be classified as NON-PURCHASE if they pay theirs bills slowly, if they break promises for payment, or if they have other financial difficulties. You benefit from the collective experience of our other carriers when a broker becomes NON-PURCHASE. Transportation Funding Group will not buy bills from those accounts that are NON-PURCHASE. You avoid the credit headaches by paying attention to the NON-PURCHASE status of a debtor when you look up their credit information online.