Today, C.H. Robinson, a global leader in logistics and supply chain solutions, introduced a new and enhanced cash-advance program for carriers. This groundbreaking program allows carriers to access up to 60 percent of their load payments instantly at pickup. The money is available instantly through online banking, improving cash flow and dramatically simplifying everyday operational expenses such as fuel, maintenance, food and lodging.
Previously, carriers depended on services that require time-consuming visits to physical locations and using manual PIN entries. Now, cash advances can be deposited directly into their all-digital LoadPay bank accounts, where they are accessible immediately through a debit card for routine transactions.
“This new feature demonstrates our commitment to offering carriers the best service in the business, said Pat Nolan, C.H. Robinson’s Vice President of Truckload. “We want to enable them to work as efficiently as possible, stay on the road and deliver loads on time, every time. That, in turn, helps them to be the indispensable partners our customers count on.”
In January C.H. Robinson became the first broker to launch LoadPay, a bank offering for carriers, in collaboration with banking and technology partner Triumph. The all-digital solution, tailored specifically for the trucking industry, helps resolve cash flow challenges by reducing payment terms to mere minutes.
The ability to receive money almost immediately when loads are picked up, offered first by C.H. Robinson, adds even more convenience, security and efficiency. This is particularly important for smaller carriers. Instant cash advances deposited into LoadPay will help them stay operational without waiting for the full payment after delivery.
“This solution tackles the major challenge of timely payment access, setting a new standard for speed and convenience in our industry,” said Cody Griggs, Vice President of Digital Brokerage at C.H. Robinson. “We’re proud to offer the fastest payment solution, empowering carriers to operate efficiently and grow their businesses.”
Key features of the cash advance option in LoadPay:
- Instant Funding: Carriers can now access cash advances directly in their LoadPay bank account in minutes, eliminating the need for physical locations or outdated systems.
- Faster, More Convenient: This new feature is the quickest way to get paid, keeping carriers on the road and able to cover operational costs like fuel, maintenance and (un)loading fees.
- Industry First Offering: C.H. Robinson is the first broker to offer carriers instant cash advance deposits directly into their dedicated LoadPay accounts – an unmatched competitive advantage.
To learn more visit, C.H. Robinson Financial.
About C.H. Robinson
C.H. Robinson delivers logistics like no one else™. Companies around the world look to us to reimagine supply chains, advance freight technology, and solve logistics challenges—from the simple to the most complex. 83,000 customers and 450,000 contract carriers in our network trust us to manage 37 million shipments and $23 billion in freight annually. Through our unmatched expertise, unrivaled scale, and tailored solutions, we ensure the seamless delivery of goods across industries and continents via truckload, less-than-truckload, ocean, air, and beyond. As a responsible global citizen, we make supply chains more sustainable and proudly contribute millions to the causes that matter most to our employees. For more information, visit us at chrobinson.com (Nasdaq: CHRW).
