August 8, 2013
Interstate Capital is now offering FMCSA compliant BMC-84 property broker bonds in $75,000 denominations with annual premiums as low as as 1% o.a.c. Premiums are based on credit score and qualification does not require a minimum net worth. Bonds are marketed jointly with Interstate’s partner, Chicago-based HUB International. HUB employs 6,500 in the U.S. and Puerto Rico and projects annualized revenue of $1.2 billion in FY 2013.
Bonds require a factoring agreement with Interstate Capital, and are subject to Interstate Capital i) approving all shipper accounts, ii) taking an assignment of all shipper accounts; and iii) disbursing funds on motor carrier freight bills directly to the motor carrier, whether factored or not.
Qualified freight brokers are not required to factor every invoice; however, non-factored invoices are subject to a processing fee of $19.99 or 1% of the invoice amount, whichever is greater.
Interstate Capital has factored over $4 billion of invoices for thousands of motor carriers for over 20 years.
To obtain a property broker bond and factoring rate quote, or for more information about Interstate Capital’s BMC-84 Bonds, please complete the form on the left, contact Sarah Williams at email@example.com, or call Sarah at (800) 422-0766.
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