Trucking Management Firm CloudTrucks Debuts Visa Card

Trucking business management solution CloudTrucks has launched CT Credit, a Visa business card designed to help small fleets and owner-operators track and pay expenses.

CT Credit is geared toward customers who may not qualify for traditional credit cards, letting them get the funding they need to move goods, build their credit and manage cash flow, the San Francisco company said in a news release Wednesday (July 6).

“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 of 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.”

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CT Credit advances funds, giving owner-operators and small fleets more control over their operating expenses and cash flow. CT Credit is available to use right away.

CloudTrucks said it will evaluate each application individually, with no hard checks on business or personal credit scores necessary. Additionally, purchases made with the company’s discount partners — such as Road Ranger, Pilot Flying J and Love’s Maintenance — earn cash back to further enhance driver cash flow.

See also: Indie Truck Drivers Steer FinTech Toward Cash Flow Innovation

CloudTrucks’ mobile and web applications also allow CT Credit customers to track their balances at any time. Team managers can keep on top of spending and establish limits for each card holder.

PYMNTS spoke to Arodiogbu last year about the need for owner-operators to have a cash flow management solution that lets professionals manage both their capital inflows and outflows.

He said that means providing visibility into each transaction and the job to which it is tied, as well as empowering truck drivers to make their own decisions about how they spend the cash loaded onto their cards: use it for everyday expenses or transfer it to their bank accounts.

“It’s not sufficient to just build a payment product or an app that lets drivers find loads,” Arodiogbu told PYMNTS. “It’s about getting them visibility and a better understanding of cash inflows and outflows.”