Sign upGetting limited or denied by factoring companies and carriers usually has nothing to do with how you pay. It is that almost nothing about how you pay is on file. Credit Score Building & Monitoring is how you put that record on file and keep watch on it.
The moment you subscribe you can open the same report a carrier or a factoring company sees about you, as often as you want. Your score, your payment picture, your authority and bond, and any warnings on file.
Add carriers you have paid through our online portal, then send each one a request. They answer a short form about how you pay, and SureLoadr verifies the response before it is accepted, generally within 2 to 3 business days. You can send up to 50 requests a year.
Verified responses start contributing toward your overall credit score and payment trend. The more quality references you can add, the stronger your profile becomes, and you receive an alert if your credit score declines.
Why it matters
A brokerage whose carriers never report has an empty file no matter how reliably it pays. These are the companies reading it, and this is what they do when there is nothing there.
May decline to fund loads booked with you, or set a low credit limit on your brokerage. A carrier who cannot factor your load often will not take it.
May ask for quick pay, price the uncertainty into the rate, or pass on the load entirely. The safest carriers are the ones who check first.
May ask for payment references you have no way to produce, especially on a first contract or an RFP.
Pay your carriers on time and make sure that record is visible. Broker credit files are assembled from what other companies report, so a brokerage whose carriers do not report has nothing on file no matter how well it pays. SureLoadr lets you ask the companies you pay to confirm your payment record directly, reviews each answer, and adds the verified ones to your file.
Usually because there is not enough payment history on file to say how you pay, rather than anything negative about your brokerage. A factoring company deciding whether to fund a load against your credit needs evidence. With nothing on file, the safe answer for them is a low limit or a decline.
Yes, and it is the most common reason brokers start. A new authority has no payment record by definition, so the fastest route is to have the carriers you already pay confirm it. Verified references begin counting toward your score as they come in.
It depends on how quickly the companies you ask respond. A reference takes about a minute to answer, and we verify it generally within 2 to 3 business days. Most brokers send several requests at once rather than waiting on one.
Any company you pay. Carriers you have paid are the strongest, because they speak to freight payment directly. You can also use companies outside freight that you pay regularly, such as your bond provider or a supplier, and those are recorded with less weight.
It still counts. You choose who to ask, and the answer stands whatever it says. That is what makes a verified reference worth anything to the carrier or factoring company reading it, and it is the difference between a credit file and a page of testimonials.