1st Commercial Credit, in collaboration with Nationwide Commercial Credit Inc., recently introduced a new fuel credit card program, offering interest-free fuel credit to entry-level trucking companies. This initiative aims to reduce one of the operational expenses for growing trucking businesses—fuel costs.
The fuel credit card program provides interest-free credit and cash discounts at partnered fuel stations, activating automatically when a load is picked up and in transit. With no manual payment requirements or hidden fees, this program allows trucking companies to manage fuel expenses through a secure online portal. Credit amounts adjust to the value of each load, with a maximum limit of $2,000 per load, offering flexibility to meet specific needs.
Program approval is based on the creditworthiness of the associated freight broker or shipper issuing the load, as well as the trucking company's proven ability to complete loads. Credit scores of trucking companies and their owners are not taken into consideration.
This feature is advantageous for new companies looking to establish and grow their business.
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The program features an automatic pay-down process, where the fuel credit is settled once the load is completed. This eliminates worries about late fees, auto-debits, or accumulating debt, making it a reliable solution for managing cash flow.
Trucking companies are required to have an active factoring arrangement with Nationwide Commercial Credit Inc. to join the program. Enrollment is easy once the factoring relationship is in place, with credit limits increasing alongside load volume to support business growth. Credit lines begin at $2,500 and can reach up to $100,000, based on the volume of loads in transit for the fleet.
