Interstate Capital’s Load Board Posts 50% Annual Growth in July 2014

Interstate Capital, a leading factoring and freight bill funding company, announced this week that its freight matching unit, Check Freight Broker, LLC d/b/a FreeFreightSearch.com (“FFS”), posted 50% year-over-year growth in July 2014. Launched in 2009, FFS.com has grown to become the world’s largest free transportation load board.

Transportation load boards, also known as “freight matching” sites, connect motor carriers with shippers and freight brokers through an on-line portal.  Motor carriers universally rely on load boards to search for freight in geographic locations where their empty trucks are located. FFS has posted over 50 million truckloads of freight and has registered over 30,000 members. In the month of July 2014, FFS received over 100,000 page views by members and site visitors and in excess of 7,500 new site visitors, representing annual increases of 51% and 50%, respectively, over the same reporting period in 2013.

Tony Furman, CEO of FFS, commented, “The growth rate of FFS has outpaced all our other business units in 2014, due primarily to marketing efforts intended to differentiate FFS from the costly subscription-based load boards and the ‘mom-and-pop’ boards.” FFS is a free site, supported 100% by advertisers.  Every other major load board requires subscriptions that are too costly for many new and small motor carrier fleets to afford. “FFS fills a void in the load board marketplace by targeting smaller carriers. Because they have lower overhead than large carriers, smaller carriers are usually willing to haul freight for less, which means more profit for shippers and freight brokers,” explained Furman.

FFS has set its sites on an aggressive expansion plan for its current fiscal year that began July 1.  “My goal for the coming year is to roll out a direct marketing campaign to integrate the 1,000 largest freight brokers in the U.S. directly with FFS, and to at least double the number of posted loads by June 30, 2015.  Our mission now is to increase load postings, and we make a very compelling case that every freight broker needs to post their loads on our site to maximize their exposure to small motor carriers,” Furman explained.

The site attracts over 7,500 new visitors per month, most of which are small trucking companies and owner-operators searching for freight. “We plan to exploit the value of our increased reach by adding more advertising and site sponsorship opportunities and increasing our ad rates this year,” Furman explained.Unlike other free sites; however, FFS does not make its membership list available to outside parties. FFS markets advertising and site sponsorship opportunities to insurance brokers, factoring companies, truck dealerships, truck repair shops, truck stops, leasing companies, tax preparation and bookkeeping services, freight brokers, truck accessory distributors and installers, software companies, and new and used trailer dealers.

In addition to being the world’s largest free load board, FFS is also the only load board with an optional integrated factoring platform. Motor carriers may find freight, obtain fuel advances, and obtain 100% payment upon delivery without ever leaving the site.  In addition, FFS provides all its members with unrestricted free access to over 10,000 freight broker credit reports.

FFS is part of the Interstate Capital Group of Companies. The Interstate Capital Group of Companies is a leading marketer of accounts receivable financing,  freight bill factoring, invoice factoring, fuel cards, freight matching, freight broker credit reports, load boards, property broker bonds, fuel advances, truck and trailer financing, freight brokerage and trade payable auction management. Founded in 1993, Interstate Capital has provided $ billions of funding for over 5,000 small businesses and trucking companies throughout the  U.S., Canada, and Mexico. Interstate Capital projects to purchase in excess of $1 billion of receivables annually within the next fiscal year, earning it the distinction of being one of the largest non-bank, privately-held factoring companies in North America.

Interstate Capital’s Load Board Posts 50% Annual Growth in July 2014

Interstate Capital Re-Brands World’s Largest Free Matching Site

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.

Interstate Capital Re-Brands World’s Largest Free Matching Site

Interstate Capital First Factoring Company to Announce Integrated GPS Funding Technology

SANTA TERESA, NM (December 27, 2013) Interstate Capital, a national transportation factoring company, announced this week it has begun offering a select group of its transportation clients an expedited funding option if they enroll in Interstate’s GPS Funding Program.  Tony Furman, President of the Interstate Capital Group of Companies, explained, “Telephonic verification of the locations of our clients’ thousands of trucks has become a costly and labor intensive process. For years, we’ve discussed how we might integrate GPS tracking into our own technology in order to reduce our costs and improve the client experience.”  It wasn’t until recently that low-cost smart phones gained sufficient popularity with drivers made Interstate’s idea an operational reality. The program is expected to be rolled out en mass to Interstate Capital clients early in 2014.

Interstate currently employs an entire department of specialists who verify truckers’ paperwork, pick-up and drop off information by phone. “The integration of a GPS solution provided by a vendor into its own funding technology allows Interstate to know the locations of its clients’ trucks before the need for funds arises, so when we receive a funding request, we already know a pickup or delivery has taken place. With GPS technology, we are able to transmit funds to our clients without the need for human verification.”

Although the technology saves Interstate time and money and reduces the risk of fraud, the primary benefit is enjoyed by truckers who enroll in the Interstate Capital GPS Funding Program.  “Our clients  now have peace of mind in knowing that if their tank is running low, funds can be transferred within minutes during normal business hours in some cases.” Furman believes Interstate’s is the first such program of its kind announced by any major transportation funding company.

Before implementation of its new GPS Funding Program, Interstate personnel had to leave up to four or five voice mail messages with loading dock personnel to verify a pickup or delivery. Meanwhile, clients’ trucks were parked waiting for funds transfers. Clients that do not opt in to Interstate’s new GPS Funding Program must wait for telephonic verification, but are usually able to obtain funds within two hours of pickup or delivery during normal business hours. “Even before we announced our GPS Funding Program, Interstate was well ahead of the curve, offering same-day funding in as few as two hours compared to many factoring companies that require 24 hours advance notice of a funding need”, Furman points out.

Interstate Capital is a New Mexico-based accounts receivable factoring company with affiliate offices located in various locations throughout North America. Interstate Capital purchases $700 million of invoices per year from manufacturing, transportation, oil field service, and staffing firms located throughout North America. Interstate, which has successfully funded over 4,000 small businesses since its inception in 1993, is on pace to fund over $1 billion of receivables annually by 2017.

Interstate Capital First Factoring Company to Announce Integrated GPS Funding Technology

Interstate Capital To Provide IFA Factoring Companies Free Access to Credit Files

EL PASO, TX,  MAY 12, 2013 Check Freight Broker, LLC (“CFB”), owner of the world’s largest 100% free transportation load board and freight payment database, announced today it is providing select factoring companies free access to its credit files.   Effective June 1, 2013, IFA-member factoring companies may access CFB’s transportation payment database free of charge.  Until that date, enrollment is limited to motor carriers and freight brokers possessing active operating authorities.  Non-IFA member factoring companies are ineligible.

CFB is a wholly-owned subsidiary of Interstate Capital, one of North America’s leading transportation factoring companies.  CFB operates the world’s largest free freight matching site, CheckFreightBroker.com.  In addition to having posted nearly 25 million truckloads of freight, CFB provides registered site visitors access to its FREE transportation credit report database.  Tony Furman, CEO of Check Freight Broker, describes what makes CFB’s freight broker credit reports unique, “CFB’s credit reports display only our own first-hand collection experience encompassing millions of transactions with tens of thousands of freight brokers spanning over 20 years.  Unlike other transportation credit services that encourage the contribution of data from third parties, CFB does not accept any third-party data.  CFB Credit reports are updated in real time as Interstate Capital posts freight broker payments and uploads them to the site”.  Furman adds, “By providing free access to our credit database, we are hoping to reduce the cost of doing business for small factoring companies on a budget.”

CFB believes it will save most factoring companies thousands of dollars per year by providing them access to its free freight broker credit reports.  IFA-member factoring companies may register at www.checkfreightbroker.com on June 1st, 2013.

For additional pre-registration information:

Tony Furman, CEO

Check Freight Broker, LLC

(915) 525-2705

Interstate Capital To Provide IFA Factoring Companies Free Access to Credit Files