CloudTrucks Launches CT Credit to Unlock Cash Flow for Owner-Operators and Small Fleets

New Visa card advances credit enabling drivers to cover day-to-day expenses while building business credit and managing overall cash flow

CloudTrucks, a leading trucking business management solution, launched CT Credit, a no-fee and no-interest Visa business card that introduces an easy way for owner-operators and small fleets to pay for and track their day-to-day expenses. CT Credit provides owner-operators and small fleets who may not qualify for traditional credit cards the advanced funds they need to seamlessly move loads, build their business credit and easily manage their company cash flow. Customers can save time and frustrations often spent on cash flow management and instead remain focused on moving freight and growing their trucking businesses.

“The CT Credit card has been really useful,” said Elizabeth O’Daire, owner, Ellie O’Daire Trucking, LLC. “I’ve been using it to pay for my lumper services, which I can later be reimbursed for. CloudTrucks gave me a $500 credit limit and I think the lower limit is great because it keeps drivers from overextending themselves. In a normal economy, $500 would be enough for a fuel up, too!”

CT Credit is designed to empower owner-operators and small fleets

Owner-operators and small fleets regularly need to pay for expenses including fuel, repairs and services before they finish a job and get paid for it. Many of them might lack the cash to cover upfront expenses and not have the credit required to qualify for traditional credit cards that can extend funds in advance. Consequently, business owners may cancel jobs or turn to loans with high fees and get stuck in a cycle where they cannot get ahead of expenses and manage their cash flow.

CT Credit advances funds, enabling owner-operators and small fleets to maintain better control of their operating expenses and cash flow. Businesses can apply to get started using CT Credit right away. CloudTrucks will evaluate each application individually, and no hard checks on business or personal credit scores are required. Additionally, purchases made with our discount partners – including Road Ranger, Pilot Flying J and Love’s Maintenance – earn cash back to further support driver cash flow. The card can be used everywhere Visa is accepted.

On the CloudTrucks mobile and web applications, CT Credit customers can track their balances at any time and team managers can monitor spending and set limits for each card holder. Drivers using CT Cash as a factoring solution can also gain a complete view of the money going in and out of their businesses to stay in control of their finances.

Balance settlement is automatic and occurs twice a month with multiple notifications leading up to the payment dates. Customers using CloudTrucks’ VC, Flex or Cash solutions can settle payments using their CT Cash Balance as well as their external bank accounts. CloudTrucks reports on-time payments to credit bureaus so customers can build healthy business credit and set themselves up for future financial opportunities. Building credit history with CloudTrucks can also unlock higher credit limits for CT Credit that grow as drivers’ businesses grow.

“We regularly hear from drivers how easy it is to get stuck in a cycle of paying for business expenses out of pocket – especially now that prices for essentials are rising,” said Tobenna Arodiogbu, co-founder and CEO, CloudTrucks. “We built CT Credit with the goal of delivering a simple solution that gives drivers more control of their cash flow and we remain committed to empowering trucking entrepreneurs with the tools they need to grow their businesses.”

CT Credit is available now to owner-operators and small fleets across the majority of the United States. Click here to learn more and apply for a card.

Category: Driver Stuff, Featured, General Update, Management, News, Tools