So you've been in business for 3 months and a friend sees you're killing it in the freight game and wants in. Or, you're networking and meet someone who asks if they can ride on your MC# while their own is getting active. They have a truck but no active authority yet, and want to borrow yours in the meantime.
Yes, you can do this — but keep some things in mind. A) You have something someone else wants, so what do you charge? You're in business to make money, not give free handouts. B) How do you protect yourself and your reputation now that you're adding this person to your business?
A) What to charge: This truck will now use your factoring company (fees apply), get added to your insurance, and work with your dispatcher (more fees). I've seen carriers charge anywhere from 10% to 30% of the Rate Confirmation's value — both extremes, in my opinion. Some of the best carriers I work with, making over $300,000 a year, rent out their MC# for 18%, which they've found to be a fair percentage for both parties.
B) Protecting yourself: I've seen it go south. One carrier got blacklisted by a major broker, so their dispatcher asked another carrier if the blacklisted one could borrow their MC# for a load so the broker wouldn't know. The shipper noticed the truck's name didn't match what was booked, told the broker, and now both carriers got blacklisted — permanently damaging the second carrier's reputation and future business with that broker.
To protect yourself, create an agreement with the borrower requiring an "escrow account" — say, $1,000 paid in over their first 5 loads, held for the duration of the arrangement, used to cover any damage to your name or property. If nothing happens, the funds get returned when the arrangement ends. Some cash is better than zero if something goes wrong.
Know what you can charge, and know how to protect yourself and your business. A lot can happen that's outside your control — plan ahead and get yourself covered before you rent out your MC#.