Hi Robert, thanks for chatting with us.
Starting Pay4Freight was out of a desire I had to get carriers paid faster than anyone else. Pay4freight was one of the first factors to do just that, paying a carrier from a fax copy of the Bill of Lading. We continue to use this method of document delivery still today.
My other goal was wanting to simplify the carriers’ pricing so they knew what the exact percentage being paid was regardless of the time it took for the factor to receive payment. Also being non-recourse gave them the security that if the reason the customer they had hauled the load for didn’t pay was because of a financial issue, the invoice wouldn’t reappear for the carrier to repay.
Knowing that the funds we advance on a single truck operator’s invoices or a fleet of trucks are going to help take care of families is very rewarding. Hiring and training a staff of dedicated people who sincerely care about the carriers we have by providing great service means a lot to me. A large banner displayed in our main work area reads, “Our Mission is to assist each carrier’s success through a team committed to achieving excellence.” I really believe in that.
Without a doubt surviving the first 2 years of operation. The company was started in the middle of the credit crunch in 2008. The tragic loss of a business partner within 6 months of existence, and just before Christmas losing a favorable lending relationship resulting from bank credit tightening upstream was very challenging.
Embracing all available technology so as to better assist each carrier in faster payment of their load proceeds and while at the same time being more efficient in how we handle our business so the carrier is always better served is my main goal.
Never ever quit! And be prepared to experience some blood, sweat, and tears as your business may experience peaks and valleys along the way. I sure did. And I wouldn’t trade any of my experiences for anything.
Enjoying boating, hiking, but number one, playing golf. I’m still a “hack” after 40 years, but working harder to become a better hack!
Thank you, Robert, for taking the time to talk to us today and for building a great company that we are all proud to work for.