How long does it take your brokers and shippers to pay you? If you’re lucky, you get paid within a couple of weeks, but some companies only pay invoices once a month. If the broker or shipper mails checks rather than using online payment systems and ACH, you have to wait for mail to be delivered, too. You might not have your money for upwards of 45 days. Can you afford that?
The USPS recently announced that first-class mail in local areas is two days, but mailings leaving the local area may take extra days to reach the final destination. The Postal Service is using trucking more than air freight to get letters and packages from one state to another, which slows down mail times. Mailing an invoice to a broker who is three states away may take a week to arrive rather than a couple of days. Can you wait that long to get your invoice into your clients’ hands?
Why Get Paid Now?
Running a trucking business often requires you to pay for items each day or week. Your drivers need to get food and beverages on the road. They need money for fueling their rigs. They may need to pay tolls or for emergency repairs if the truck breaks down.
You have other expenses, too. There’s the rent for your business space, the payment for your trucks, insurance, license and registration fees, uniforms, utilities, etc. It adds up. While some of these bills will wait until the end of the month, what about the bills that must be paid at time of service, such as repairs, gasoline or diesel, and food. How do you afford them when you’re not getting paid for weeks?
Have you looked into the benefits of having a company credit card? Charge purchases to the card to pay at the end of the month when you get paid. That’s one reason business owners have credit cards. The other benefits include reward points for fuel discounts, restaurant gift cards, and more. If you can cash in your reward points and get gift cards for chain restaurants, you save money in the long run. Invest the savings into your business’s growth.
Benefits to a Saint John Capital Credit Card
What should you know about the credit card from Saint John Capital?
When you get this business card, it helps ease your worries as a business owner. A number of benefits come from holding a Saint John Capital credit card.
- Use the card anywhere Visa is accepted, even at fuel pumps.
- Withdraw cash from ATMs and check your balance at an ATM.
- Enjoy 24-hour account access, even on weekends and major holidays.
- There are no hidden fees.
- Credit cards are safer than carrying a lot of cash.
- Customer support is available 24/7.
- The online app makes it easy to check balances or move funds from anywhere you have service.
- No personal credit score is needed.
Saint John Capital offers a range of services that make it easy to manage your cards. Online and mobile banking are both available. There are no annual fees with Saint John’s business credit cards. They work with Scorecard Rewards, offering members rewards for travel, cashback, access to gift cards, and merchandise that can all save you money.
That all sounds great, but there’s one benefit to a Saint John Capital credit card that makes it a fantastic choice. With this credit card, you can get paid immediately when you pick up or drop off a load.
Get Paid the Same Day
With a Saint John Capital credit card, it’s possible to get paid the same day. It works well and allows you to get paid quickly. You start by taking a photo of the bill of lading and submitting it to the app by the noon EST deadline.
Once we’ve looked it over to ensure the BOL is complete, we calculate how much is due and send the amount you’re owed to your credit card. That money is available immediately for you to use while getting fuel, paying bills, or getting trucks repaired and back on the road.
If you request payment after completing a delivery, we can advance 100% of the amount you’re owed, minus our low factoring rates. It’s also possible to get paid when you pick up a load, though you will get a percentage rather than the entire amount at once. The balance is paid when the load is delivered.
We don’t charge subsequent fees, which can save you as much as 1%. You work hard for your money, and it’s our goal to keep fees low to ensure our freight factoring arrangement benefits our clients.
What happens if your broker or shipper fails to pay up? Will we issue a chargeback and take away the money we paid you? Saint John Capital offers non-recourse factoring plans. If your client doesn’t pay, that’s our problem. We do not demand you pay us back or take back the money we’ve already paid to you. We can make this promise by offering free broker and shipper credit checks to help you partner with responsible clients.
Our find loads technology in the app helps you find more work to eliminate trips where you’re not hauling anything. Take a load on your return trip and double the money you make per trip. As you narrow down work options, you can pair that with free credit checks to verify that the company doesn’t have a history of non-payment or late payments.
Once we’ve paid you through your Saint John Capital credit card, you’re free to generate an invoice and upload it to your preferred accounting software. Not only do you get paid quickly, but you also never have to take time to do your own invoicing. We take care of invoicing for you, which frees up your time for other job responsibilities.
With advantageous terms and features that help you save money, it’s the smart way to operate your trucking company. Reach us online for more information about the Saint John Capital credit card and same-day payments.