PayCargo Capital has signed a deal with Evolve Bank & Trust (Evolve) to allow freight forwarders (FFs) and beneficial cargo owners (BCOs) get credit access at the point of paying freight costs.
PayCargo Capital is the exclusive lending partner to users of PayCargo, LLC's payment platform for vital remittance information between payers and transportation-related vendors. PayCargo has over 67,000 active users remitting and receiving payments.
The partnership will immediately fund the PayCargo Line of Credit, which eliminates financial delays contributing to the on-going supply chain crisis, Paycargo said in a statement.
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