EL PASO, TX APRIL 14. Interstate Capital, one of the largest independent funders of truckers in the U.S., revealed today its plan to re-brand it subsidiary, Check Freight Broker, LLC, better known in the transportation industry as “CheckFreightBroker.com” (“CFB”). Effective immediately, the CFB brand will be co-branded, FreeFreightSearch.com.
Tony Furman, CEO of CFB explains, “In 2009, the CFB brand became synonymous with transportation credit reports for truckers.” As the business expanded into free freight matching, gradually the CFB name became obsolete. “I would estimate than 90% of our members currently use the site first and foremost, to find freight for free and secondarily, to ensure they’ll get paid by freight brokers,” Furman added. “Just three years ago, it was the other way around.”
To avoid confusion among its over 16,000 members and the rest of the transportation community, CFB will not immediately drop that identity, but site visitors will notice the the CFB identity along-side the FreeFreightSearch.com branding. Eventually, when the co-branding campaign is complete, Furman plans to drop the CFB identity completely.
Furman attributes the site’s growth to truckers becoming smarter comparison shoppers. In 2011, CFB launched a sister site, CompareLoadBoards.com, to make comparison shopping easier for truckers. At the time, trucking companies were paying many thousands of dollars to access competing, larger freight matching sites (“internet load boards”). They still do–a fact that provides Furman with fierce resolve to educate the trucking community about free load boards. CompareLoadBoards.com illustrates the differences among load boards through use of an easy-to-understand comparison chart. Furman claims, “The side-by-side comparison chart featured on the CompareLoadBoards.com site drives truckers to the CFB site by the thousands.”
“One of the most frequently asked questions is, ‘How do you make money?’ New site visitors are weary about being ripped off or eventually being charged to access the site’s premium features,” Furman explains. “Our biggest challenge is convincing truckers that it’s no scam. Our business model works because it’s free, not despite it. Our site is 100% advertiser supported, just like Yahoo, Yelp, and Facebook. We make money because our advertisers make money. Our advertisers count on us to deliver a growing, targeted, niche audience–and we do. It’s all about building user engagement on the site and building site metrics. We do that by providing access to all our valuable features for free,” he added.
By contrast, other major load boards charge their members thousands of dollars to access their sites. While some of the other major load boards boast larger membership rolls than CFB, its 16,000 members have searched over 40 million truckloads of freight and visit over a million of the site’s pages annually, making it by far the world’s largest free load board. CFB projects it will have over 25,000 registered members in 2014. According to Furman, CFB is in its infancy and still only scratching the surface of the free freight matching market after nearly five years in business.
CFB is a wholly-owned subsidiary of Interstate Capital, a leading transportation factoring company that has provided $ billions of funding for over 6,000 motor carriers, freight brokers, wholesale distributors, manufacturers, and services businesses for over 21 years. Interstate and affiliates maintain offices in El Paso, Texas, New Mexico, California, and Arkansas.