Most prepaid fuel programs out there have multiple options for funding cards. However, they are time-consuming, require consistency, and generally will cost you extra money. Carriers don’t have the time to wait for a card provider to locate an ACH/wire transfer and connect that with their fuel balance. Moreover, companies and banks have tight hours and often don’t work within the trucking industry’s nightlife or weekend schedule, leaving drivers stranded at the pump. The answer to avoiding all this funding trouble is to acquire a fuel line of credit. The benefits of a credit fuel line include:
The Convenience of Funding
A great advantage to a fuel line of credit is to make things easier for you. With a fuel line of credit, executed payments come out every seven days. This automatic program is meant to be convenient for you. This means you spend less time concerned with every detail at fuel stops and have more bandwidth for growing your business.
No Fee to Pay off Invoices & Guaranteed Funds
Under this card program, you may automatically execute payments that are paid on weekly billing cycles. There are no fees to draft your owed funds. Many card platforms even free up entire credit lines through “guaranteed funds” so that you don’t have to wait for the bank transfers to fund before having the credit line reestablished for the week.
Builds Business Credit Score
Having a fuel line of credit helps your business credit score just having open credit lines with credit cards and mortgages – establishing a fuel line of credit can help a business’s credit score. The improved score can only improve the lending opportunities for your business, down the road.
Fuel, Tires and Maintenance.
As you know, diesel prices are creeping up; they fluctuate. We aren’t repeating this because we are low on content ideas, but because this is one of the top advantages of a fuel line of credit. Saving money on fuel and improving the bottom line. A fuel line of credit may offer significant discounts on the cost of diesel fuel. Depending on the size of your fleet, your savings will keep growing with every fuel pump squeeze at Love’s or TA.
Having a consistent discount in an inconsistently priced fuel market is interesting food for thought. In addition to diesel discounts, a fuel line of credit helps with pulling cash advances. The card program will also help you pay for new tires, maintenance, light mechanical work, washes, groceries, and other merchandise a driver needs on the road.
Once approved for a line of credit, you can access the needed funds to cover critical expenses. Credit flexibility means that the drivers in your fleet may cover any emergencies that arise while in transit. A fuel line of credit is a helping hand. With the card, you’ll be able to conveniently cover ongoing operational costs for your growing business.
The England Carrier Services (ECS) division offers a variety of services for carriers ranging from maintenance to support. As ECS members, carriers have access to nationwide discounts on fuel and tires from dedicated team members who are committed to finding the best price. ECS also provides factoring services with benefits such as same-day funding to a bank account or fuel card. These options allow carriers the freedom to focus on growing their business while saving time and money.