Motor carriers – whether they are independent owner-operators or large fleets – place a high priority on getting their fuel costs covered upfront. With fuel representing up to 40% of operating costs, receiving a fuel advance on your account when you pick up freight buys you peace of mind – and all the diesel you need to complete your trip. Since 1993, thousands of motor carriers have turned to Interstate Capital, one of North America’s leading factoring companies, for reliable fuel advances. The reason: Interstate Capital provides an industry-leading 100% fuel advance upon loading.
Here’s how fuel advances work a Interstate Capital:
- Pick up the load
- Scan in your bill of lading and rate confirmation on your Interstate Capital Mobile App or send in the paperwork to Interstate Capital via email or fax
- Interstate Capital confirms your location and load
- Within hours, you receive 100% of your fuel costs added onto your free Interstate Capital Fuel Discount Card, Comchek account, or other funding method of your choice.
- Qualifying clients can also have fuel advances instantly credited 24/7 to their Interstate Capital Fuel Discount Card by requesting an advance on Interstate’s ClientWeb portal.
Thanks to the company’s advanced technology, Interstate manages fuel advances quickly, resulting in faster funding for both owner operators and trucking fleets. The streamlined system also enables Interstate to price its fuel advances lower than most factoring companies’ fees.
With Interstate Capital’s 100% fuel advance upon loading, motor carriers can take on higher-paying freight without the need for quick-pay brokers. Without fuel advances, credit-constrained truckers often resort to limiting themselves to hauling freight posted by freight brokers that offer quick-pay options but do not pay top rates. Fuel advances – and the freedom of choice that they bring – could translate into earning an owner operator up to 8 cents more per mile on an average long-haul load. The alternative to fuel advances is waiting until after delivery to obtain funding from a factoring company or waiting for weeks after delivery to obtain payment from the shipper or freight broker.
Simple and Fast Funding
Interstate Capital’s fuel advance program is popular for both its simplicity and speed of funding. The motor carrier receives all its money when the load is picked up, minus Interstate’s low fee, and they are done. Carriers can stay on the road, haul more freight and take on more loads without waiting to get paid for fuel from their last loads.
While many factoring companies do not even offer fuel advances, some factoring companies that do provide them may spread payments out over three transactions per load: a fuel advance of about 50% when the trailer is loaded, a 30-45% disbursement upon delivery, and a final disbursement or reserve. That process represents numerous transactions to monitor – and usually numerous fees. Interstate keeps the process simple, with one request and one payment. With Interstate Capital’s 100% fuel advance upon loading, motor carriers quickly gain options and the opportunity to take on higher-paying freight.
As a leading provider of fuel advances and affordable freight bill factoring, Interstate Capital is a one-stop-shop for motor carriers who can also save money and time with the Interstate Capital fuel discount cards, trailer financing, and other services.