From the Wires
Interstate Capital's Load Board Posts 20 Millionth Truckload Of Available Freight
By: PR Newswire
Jan. 11, 2013 12:01 AM
SANTA TERESA, N.M., Jan. 11, 2013 /PRNewswire/ -- Check Freight Broker, LLC ("CFB"), the world's largest FREE freight matching site, announced today the posting of its 20 millionth load.
Freight matching sites or "load boards" electronically connect truckers that have capacity with parties that have freight to ship. Some load boards charge truckers thousands of dollars annually to access their sites. CFB's business model is unique. "We don't charge our subscribers anything. Access to our load board and all its features is free of charge. CFB is 100% advertiser supported," explained Tony Furman, CFB's founder and CEO.
Since its inception in 2010, CFB has experienced triple-digit annual growth. Tens of thousands of trucks may, on any given day, use CFB to locate thousands of truckloads of posted freight. CFB also offers motor carriers free access to thousands of freight broker credit reports and provides various funding options that relieve truckers' cash flow stress.
"Our mission was to design the most feature-packed load board at a price that our rivals cannot beat," Furman explains. In 2010 CFB became the only load board with an integrated funding feature, allowing motor carriers to obtain fuel advances and payment on posted loads, without leaving the site. "20 million posted loads speak for themselves, but we're most proud of our growth in carrier and freight broker subscriptions," added Furman.
Some of CFB's competitors lure members with "free trial periods" after which, subscriptions can climb to thousands of dollars per year. "Freight matching is a crowded space and we think costly subscriptions will become a thing of the past. CFB wants to be at the forefront of the paradigm shift. Unquestionably, there's huge demand for free freight matching and demand will continue to grow," predicts Furman. CFB projects 75% to 100% growth in 2013.
The company's parent, Interstate Capital, is a specialty lender that advances funds to motor carriers when they pick up freight and the balance within two hours of delivery. Interstate assists truckers who struggle with cash flow by bridging the cash flow gap between the outlay for diesel fuel and the collection of payment from shippers and freight brokers. Interstate provides over $.5 billion of funding annually to thousands of clients throughout the US. Interstate was formed in 1993 and is headquartered in Santa Teresa, New Mexico.
CONTACT: Tony Furman, 915-525-2705, email@example.com
SOURCE Interstate Capital
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