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How Factoring Works for Freight Brokers (with Steve Spoerl of Haulpay) | Episode 264
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Get ready for a deep dive into freight finances with Steve Spoerl, Director of Customer Success at Haulpay! In this episode, we unpack how factoring can be a game-changer for brokers and carriers, while also covering key insights on NOAs, non-recourse factoring, and even the Buffalo Bills' latest heartbreak. We also tackle the East Coast port strike and what it means for supply chains. Whether you’re a new broker or a seasoned pro, tune in for expert tips on picking the right factoring company and staying financially strong.
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1. Introduction to Factoring in Freight (00:00:00)
2. Port Strike Impact and Automation Debate (00:07:14)
3. Factoring Basics and Benefits (00:15:02)
4. Carrier Payment Verification and Automation (00:28:12)
5. Understanding NOAs and LORs in Factoring (00:33:19)
6. Navigating Exclusivity Clauses in Factoring (00:37:04)
7. Navigating Factoring Company Selection Tips (00:48:27)
8. Establishing Credit Through Factoring Company (00:56:24)
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