Expediter Services and the Women In Trucking Association shared an update on their collaborative initiative to create 150 women-owned businesses in transportation. The initiative, called the 150 Business Challenge, has led to nearly 75 new trucking start-ups since it was announced about one year ago at the Women In Trucking’s 2017 Accelerate Conference.
The 150 Business Challenge is a platform that offers accessible financing as well as operational and business support for women who have an interest in a career path within the trucking industry.
Expediter Services (ES) proposed the 150 Business Challenge to Women In Trucking last fall. The program utilizes the infrastructure and expertise of ES, which has provided ownership opportunities within the trucking industry for more than a decade.
The program immediately captured the interest of Forward Air and Panther Premium, a Service of ArcBest. The two transportation companies became the primary participating carriers for the program, and both carriers have benefited from the addition of non-asset capacity in a driver market.
Professional drivers interested in ES truck ownership programs, like the 150 Business Challenge, go through a screening and qualification process. The company’s process for qualifying truck ownership program places a greater emphasis on a driver’s work history over a traditional credit score.
ES offers qualified participants competitive, market-rate financing to own trucks from leading equipment brands.
“We believed that the 150 Business Challenge could help to make a difference in our industry, and it’s been amazing to witness what has taken place in the past year,” said Ellen Voie, president and CEO of the Women In Trucking Association.
“One of the founding principles of our company is to be of service and to provide opportunities to people. As we developed our truck ownership programs, we took note of the hurdles women have faced in trucking from a financial standpoint when looking to start a business,” said Jason Williams, President of Expediter Services.
According to officials at ES, this group of small businesses started through the 150 Business Challenge are generating a combined revenue total well in excess of $1.5 million per month. Participants have their choice of operating their trucks within expedited, truckload or LTL through Panther Premium and Forward Air.
“As we begin our second year with this program, we’re ready for the continued growth we expect to see,” said Williams, who also serves on the board of the Women In Trucking Association.