How Factoring Works for Freight Brokers (with Steve Spoerl of Haulpay) | Episode 264

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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0:00 – 🚛 Introduction to Factoring in Freight
7:14 – 🛑 Port Strike Impact & Automation Debate
15:02 – 💡 Factoring Basics & Benefits
28:12 – ✅ Carrier Payment Verification & Automation
33:19 – 📑 Understanding NOAs & LORs in Factoring
37:04 – 🔒 Navigating Exclusivity Clauses
48:27 – 📋 Tips for Choosing a Factoring Company
56:24 – 💳 Establishing Credit Through Factoring