The partnership will fund the ‘PayCargo Line of Credit’ which eliminates financial delays that are contributing to the ongoing supply chain crisis. This solution allows freight forwarders and beneficial cargo owners to apply for and receive credit right at the point of paying freight costs. PayCargo expedites funding by removing the need for using third parties, excessive paperwork, and lengthy processes.
PayCargo Capital is a lending partner to users of PayCargo, LLC's payment platform for moving money and remittance information between payers and transportation-related vendors. PayCargo, LLC's platform is an independent freight payments network, with over 67,000 active users remitting and receiving payments. Qualified freight forwarders, importers, and beneficial cargo owners in North America who use the PayCargo platform can extend vendor payments by 30 days using credit.
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