LoadPay partners with Mike Rowe to get truckers paid

Truckers go through a lot to get their cargo delivered on time; the least brokers can do is quickly pay them. But sometimes the wait could be a month or more, affecting drivers' cash flow and ability to maintain their equipment.  Finance platform LoadPay makes sure that money gets to them, whether the banks are open or not.

“We paid our carriers nearly $500k over the Fourth of July weekend, when the regular banks and credit unions were closed,” explained LoadPay President David Vielehr.

Within minutes, payments are funneled from the 400+ brokers and 60+ factoring companies within the network to the account holder—and without wire fees. The platform also provides digital expense cards drivers can use for fuel and repairs, circumventing long wait times that can increase downtime. Users can also request a physical debit MasterCard.

To highlight how the banking solution supports truckers, the Dallas-based company collaborated with famed trades advocate Mike Rowe. The former host of “Dirty Jobs,” who now has a YouTube show called “People You Should Know,” filmed a promotional video for LoadPay, where he compared truckers to superheroes and noted their continual sacrifices.

“Make no mistake, without them, nobody anywhere would have anything at all,” Rowe asserted in the video. (His grinning mug is also front and center on the company's website.)

Rowe also joined Vielehr for the Walcott Jamboree at the Iowa 80 Truckstop on July 11. Both were in LoadPay’s booth to meet some of these heroes gathered at the massive truck show, as well as bring attention to the banking solution.

It made perfect sense to partner with Rowe, Vielehr said, because both support the workforce, albeit in different ways.

“We love Mike and his commitment to elevating and honoring the backbone of our country: its workforce,” Vielehr told Fleet Maintenance. “As we got to know each other, it was clear that his focus and LoadPay's work were in sync to provide great tech to fleets of all sizes, to make the hard work that drivers and everyone in logistics does easier so they can focus on keeping our economy moving.”

After the event, Vielehr noted Rowe was "one of the biggest draws" at the massive truck gathering, where attendance routinely tops 40,000.

"The drivers were excited to meet him," Vielehr said. "Many lined up just to say thank you."

Many also discussed "what it means to get paid in minutes instead of waiting days or even weeks," Vielehr said. "That kind of speed makes a difference in their ability to stay on the road, cover repairs, refuel, and get home to see their families."

Driving uptime through cashflow

According to Vielehr, providing your drivers with a virtual (or physical) expense card tied to the LoadPay account helps small fleets stay ahead of unforeseen maintenance issues, like a roadside breakdown, that can cause big problems.

“This gives the owner the ability to make sure trucks keep moving with the fraud and expense protection they need,” the former product strategy lead at broker C.H. Robinson noted.

And instantly issuing your driver a virtual card for specific repairs rather than having them wait for an approval process can make a big difference, especially in a sluggish freight economy when cashflow is more molasses than liquid. One small fleet customer, AA&D Trucking LLC, found this out recently. They had just received payment from a broker one late Friday night and were able to issue a card to the driver to cover fuel expenses and much-needed repair parts.

A LoadPay spokesperson noted, “Had that payment been sent to a traditional account, it wouldn’t have cleared until Monday at the earliest due to ACH (Automated Clearing House) cutoff times.”

For a fleet, waiting even two extra days for a repair could mean turning down a new load and paying for a hotel room. For the long-haul trucker, it could mean missing a kid's ballgame or just time to decompress. 

“Having trucks stuck on the side of the road is hard enough, and [the ability to get] safe and secure payment to resolve the issue shouldn’t be a reason that a truck can’t get back on the road,” Vielehr concluded.