Delays in load payments can make it challenging to effectively manage a trucking company. That’s why C.H. Robinson is offering a growing suite of innovative financial services aimed at helping these businesses become more profitable, efficient and dependable, which in turn strengthens supply chains from end to end.
Why it matters: Covering fuel, food, maintenance, and other everyday expenses can quickly strain cash flow for smaller carriers, especially when they operate just a few trucks or are one-person businesses.
Traditionally, payment terms can stretch 20 to 30 days, and sometimes even longer, after delivery. Waiting weeks for funds can slow growth and even sideline drivers. That’s not only bad for the carriers themselves, but also for the shippers who depend on them to haul loads efficiently and deliver on time.
What we’re doing: Earlier this year, we became the first broker to offer LoadPay™, a tailored digital bank account that streamlines payments for carriers. Now, we’ve added an industry-first feature that enables carriers to get all-digital cash advances (up to 60% of their load payment) deposited into their LoadPay account in minutes, right at pickup. The cash is accessible within minutes, 24/7 to cover everyday expenses. This new feature is offered by C.H. Robinson in Navisphere® Carrier, with the help of Triumph, a financial and technology industry leader.
Traditionally, carriers would have to make visits to physical locations to use special cash machines and enter a PIN code to access advances. Using LoadPay does away with these time-consuming and inefficient practices. There are no more wire fees to expedite payment, funds are FDIC-insured*, and money can be accessed in a variety of ways: through physical debit cards, ATM withdrawals, or by adding LoadPay to digital wallets like Apple Pay, Google Pay and Samsung Pay. Money can also be transferred to other bank accounts.
It's quick, it’s convenient, and for carriers, it can make a world of difference.
What it means: When carriers have access to faster payments and the right financial tools, the benefits go beyond easy access to funds. Solutions like all-digital cash advances help promote financial security, strengthen shipper-carrier relationships, and reduce the risk of shipment delays. Cutting down on wait times allows carriers to focus on growing their business and keeping freight moving efficiently.
The cash advances programs complements Factoring powered by Delta™, which, in combination with the LoadPay™ accounts, allows carriers to shift their invoices and much of the back-office work to a reliable third party and get paid for completed loads in minutes. The service even includes credit checks on brokers, which can help mitigate fraud.
We also offer Quick Pay, which allows eligible carriers to get paid within 2 business days instead of the standard 20.
How our financial solutions helps carriers:
- Less stress: Carriers can get paid easily by uploading their invoices to one online location, eliminating the hassle of tracking down payments from multiple different freight providers.
- Around-the-clock funding: Invoices can be paid anytime. There is no need to wait around for traditional banking hours, even on weekends and holidays.
- Enhanced cash flow: Carriers can get paid in minutes on approved invoices, even for other freight providers, and pay for any expenses wherever Mastercard® is accepted.
- More reliable operations: With less paperwork to worry about, carriers can spend more time booking and hauling loads—keeping freight moving and working more profitably.
The bigger picture: The new all-digital cash advances paid into LoadPay cash advances are another example of how C.H. Robinson is advancing smart digital solutions as part of our commitment to deliver logistics like no one else.
For carriers, these tools enhance operational flexibility and financial security, so they can concentrate on their core operations, minimize delays and maximize efficiency. For shippers, they can foster a stronger and more reliable carrier network for those who transport their goods. This leads to improved engagement, dependability and, ultimately, stronger overall supply chains.
Ready to change the way you get paid? Visit our C.H. Robinson Financial Services page to learn more and sign up.
LoadPay is a product offering of TBK Bank, SSB, Member FDIC. The LoadPay debit card is issued by TBK Bank, SSB pursuant to a license from Mastercard.
Factoring products and services are offered by TBK Bank, SSB, Member FDIC, d/b/a Triumph.
* The standard insurance amount is $250,000 per depositor, per FDIC insured bank, for each account ownership category. Learn more about FDIC insurance
