Dive Brief:
- Atlanta-based Rubicon Global has announced a partnership with The Credit Junction that will provide financing options for haulers.
- Members of the Rubicon Pro program will have access to term loans or lines of credit from $500,000 to $5 million. The financing program will include interest-only monthly payments aimed at increasing available capital as haulers grow their business.
- Rubicon Pro also offers access to smaller amounts of financing, ranging from $40,000 to $150,000, as well as discounts on fuel and parts.
Dive Insight:
Rubicon's business model relies on a pool of haulers and processing vendors competing for access to different accounts. The company says this will help its group of about 5,000 haulers provide better customer service and divert more waste for recycling.
"Rubicon relies on our network of independent haulers, and we’re committed to giving them the tools they need for success," said Nate Morris, Rubicon’s co-founder and CEO, in a statement. "Our partnerships with organizations like The Credit Junction help to level the playing field by enabling our haulers to grow their infrastructure and compete for business."
The Credit Junction bills itself as the first "data-driven asset based lending platform" so this move makes sense for Rubicon, which is very focused on the "disruptive" power of cloud-based solutions. Last month, the company also partnered with data company Trucost to provide customers more information on the greenhouse gas emissions related to their waste and recycling services.
