Provident Commercial Finance is a Tennessee factoring company specializing in freight and trucking factoring for all business types.
Trucking Factoring
Best Factoring Companies in Trucking
62 results
Industries we serve
Factoring amounts
$10,000 —
$2,000,000
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5901 Shallowford Rd, Chattanooga, TN 37421
Provident Commercial Finance is a Tennessee factoring company specializing in freight and trucking factoring for all business types.
400 W Illinois Ave Ste 1120, Midland, Texas 79701
Velocity Financial is a Midland, TX factoring company that specializes in oilfield service companies such as welding, trucking, rig services, and oilfield construction, just to name. We also provide factoring services for other industries such as staffing, manufacturing, and business services.
Industries we serve
Factoring amounts
$50,000 —
$5,000,000
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400 W Illinois Ave Ste 1120, Midland, Texas 79701
Velocity Financial is a Midland, TX factoring company that specializes in oilfield service companies such as welding, trucking, rig services, and oilfield construction, just to name. We also provide factoring services for other industries such as staffing, manufacturing, and business services.
4185 Harrison Blvd. Ogden, UT 84403
TAB is a full-service bank in Utah that makes it easy to successfully grow and manage your business. We understand the power of accounts receivable financing.
Industries we serve
Factoring amounts
$10,000 —
$10,000,000
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4185 Harrison Blvd. Ogden, UT 84403
TAB is a full-service bank in Utah that makes it easy to successfully grow and manage your business. We understand the power of accounts receivable financing.
315 Matheson Blvd East Mississauga, ON L4Z 1X8
J D Factors has been providing non-recourse receivables factoring since 1989. We provide superior customer service and support.
Industries we serve
Factoring amounts
$10,000 —
$5,000,000
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315 Matheson Blvd East Mississauga, ON L4Z 1X8
J D Factors has been providing non-recourse receivables factoring since 1989. We provide superior customer service and support.
500 Silver Spur Rd, Palos Verdes, CA
J D Factors has been providing non-recourse receivables factoring since 1989. We provide superior customer service and support.
Industries we serve
Factoring amounts
$10,000 —
$5,000,000
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500 Silver Spur Rd, Palos Verdes, CA
J D Factors has been providing non-recourse receivables factoring since 1989. We provide superior customer service and support.
2900 Browns Lane, Jonesboro, AR
Sunbelt Finance is a factoring company in Arkansas that offers a nationwide freight factoring program used by hundreds of companies.
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2900 Browns Lane, Jonesboro, AR
Sunbelt Finance is a factoring company in Arkansas that offers a nationwide freight factoring program used by hundreds of companies.
1718 2nd Ave NW, Cullman, AL
Trucking Partners Financial is a Birmingham, AL factoring company that specializes in freight factoring to carriers and owner-operators.
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1718 2nd Ave NW, Cullman, AL
Trucking Partners Financial is a Birmingham, AL factoring company that specializes in freight factoring to carriers and owner-operators.
6300 Ridglea, Fort Worth, TX 76116
Integra Funding Solutions is a factoring company in Fort Worth that specializes in transportation factoring. We provide simple and easy freight factoring services with no startup fees, no monthly minimums and same-day funding.
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6300 Ridglea, Fort Worth, TX 76116
Integra Funding Solutions is a factoring company in Fort Worth that specializes in transportation factoring. We provide simple and easy freight factoring services with no startup fees, no monthly minimums and same-day funding.
2112 1st Ave. N., Birmingham, AL 35203
Porter Freight Funding is the freight division of Porter Capital. Porter Freight serves small to mid-size to large trucking companies throughout the U.S. They offer monthly contracts, low rates, as well as personal client relationship managers.
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2112 1st Ave. N., Birmingham, AL 35203
Porter Freight Funding is the freight division of Porter Capital. Porter Freight serves small to mid-size to large trucking companies throughout the U.S. They offer monthly contracts, low rates, as well as personal client relationship managers.
2970 Peachtree Rd. Ste 805, Atlanta, GA 30305
Coeur Capital is an Atlanta factoring company that offers working capital solutions and factoring services to small businesses
Industries we serve
Factoring amounts
$10,000 —
$2,500,000
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2970 Peachtree Rd. Ste 805, Atlanta, GA 30305
Coeur Capital is an Atlanta factoring company that offers working capital solutions and factoring services to small businesses
1308 Camellia Blvd., Suite 300, Lafayette, Louisiana 70508
AIM Business Capital provides invoice factoring services for oil and gas, energy, trucking and logistics, staffing, manufacturing, wholesaling, distribution, and service-related companies. AIM can finance up to $2 million in a line of credit.
Industries we serve
Factoring amounts
$25,000 —
$2,000,000
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1308 Camellia Blvd., Suite 300, Lafayette, Louisiana 70508
AIM Business Capital provides invoice factoring services for oil and gas, energy, trucking and logistics, staffing, manufacturing, wholesaling, distribution, and service-related companies. AIM can finance up to $2 million in a line of credit.
10601 N Pennsylvania Ave., Oklahoma City, OK 73120
Freight Factoring with Love’s Financial is a smart solution to manage your cash flow. Love’s provides unbeatable customer service while helping you grow your business.
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10601 N Pennsylvania Ave., Oklahoma City, OK 73120
Freight Factoring with Love’s Financial is a smart solution to manage your cash flow. Love’s provides unbeatable customer service while helping you grow your business.
800 Parker Square Suite 260, Flower Mound, TX 75028
Pay4Freight factors freight bills and other industry related receivables since 2007 and is located in Flower Mound, Texas.
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800 Parker Square Suite 260, Flower Mound, TX 75028
Pay4Freight factors freight bills and other industry related receivables since 2007 and is located in Flower Mound, Texas.
3000 Riverchase Galleria, Suite 800, Birmingham, AL 35244
ENGS Commercial Capital is the fifth largest independent commercial finance company in the U.S. with its headquarters in Birmingham, Alabama.
Industries we serve
Factoring amounts
$25,000 —
$12,000,000
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3000 Riverchase Galleria, Suite 800, Birmingham, AL 35244
ENGS Commercial Capital is the fifth largest independent commercial finance company in the U.S. with its headquarters in Birmingham, Alabama.
2933 Bunker Hill Lane, Santa Clara, CA
Bay View Funding is a Santa Clara factoring company that has successfully helped businesses solve their cash flow challenges since 1985.
Industries we serve
Factoring amounts
$50,000 —
$20,000,000
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2933 Bunker Hill Lane, Santa Clara, CA
Bay View Funding is a Santa Clara factoring company that has successfully helped businesses solve their cash flow challenges since 1985.
2701 W 84th Ave, Suite 200, Westminster, CO 80031
CSI Factoring is a Denver factoring company directed by a team with more than 40 years of experience in the financial services industry.
Industries we serve
Factoring amounts
$25,000 —
$3,000,000
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2701 W 84th Ave, Suite 200, Westminster, CO 80031
CSI Factoring is a Denver factoring company directed by a team with more than 40 years of experience in the financial services industry.
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Factoring for your trucking company
If you operate a trucking company, and your shipping customers and freight brokers have good credit but are slow paying their freight bills, then you should consider freight bill factoring. Not only do you get cash advances, but you often receive other benefits such as fuel cards, fuel discounts, and maintenance discount programs.
Benefits of Trucking Factoring
- Improved Cash Flow: With freight factoring, you no longer must wait for your customers to pay their invoices. You get paid quickly, which helps you cover expenses and keep your business running smoothly.
- Reduced Administrative Work: Managing invoices, collections, and paperwork can be time-consuming. When you partner with a freight factoring company, they handle these tasks for you, allowing you to focus on driving and growing your business.
- Access to Quick Funding: Instead of waiting 30, 60, or even 90 days for payment, freight factoring provides you with immediate funds. This can be especially beneficial if you need to cover fuel costs, repairs, or other business expenses.
- Increased Flexibility and Scalability: As your business grows, so do your expenses. Freight factoring allows you to take on more loads and expand your operations without worrying about cash flow constraints.
- Freight bill factoring provides a complete financing alternative to negotiating with every single freight broker for which you deliver goods. Freight factoring companies handle all your invoices, no matter how many brokers you have. This is especially important for trucking companies that work with a large number of freight brokers such as C.H. Robinson, TQL, or XPO Logistics.
How to Choose a Truck Factoring Company
When selecting a freight factoring company, it’s essential to consider several factors:
- Reputation and Credibility: Research the company’s track record, read reviews, and check if they have experience working with trucking companies similar to yours.
- Evaluation of Rates and Fees: Compare the rates and fees offered by different factoring companies. Consider not only the percentage they charge but also any additional fees or hidden costs.
- Contract Terms: Carefully review the contract terms, including the length of the agreement, cancellation policies, and any potential penalties or restrictions.
- Importance of Quality Customer Service: Look for a freight factoring company that provides excellent customer service. You want a partner who is responsive, understanding, and willing to assist you whenever you have questions or concerns.
- Speed of Funding: Timely cash flow is critical for your business. Choose a freight factoring company that offers quick funding, ensuring you can access the funds you need when you need them.
Trucking factoring rates as low as 1%, up to 4%
Freight factoring rates are very competitive. Truck factoring companies offer rates as low as 1.5% for large carriers that factor millions in freight invoices each month, while owner-operators and smaller truck companies with one to five trucks can expect to pay between 2.5 to 3.5% for freight factoring services.
Trucking advance rates as high as 99%
Trucking companies enjoy the best advance rates in the factoring industry. Other types of businesses such as staffing or construction often carry advance rates of 85% or less, but trucking cash advance rates are often 95% or more. Some freight factoring companies fully-fund 99% of your freight bills, advancing the entire invoice amount less factoring fees.
Non-recourse factoring – credit safety
Many freight factoring companies offer the option of non-recourse factoring which is a credit guarantee that protects you from customer non-payment due to credit issues. Non-recourse factoring usually costs more than recourse, but it may give you the peace of mind you need to sleep at night. Recourse and non-recourse factoring pertain only to non-payments resulting from credit issues such as insolvency or bankruptcy. You’re still liable for disputed claims, non-delivered goods or incorrect billing.
How freight bill factoring works for you
- Complete the delivery of goods to your customer and send your freight bill (or bill of lading) to your freight factoring company.
- The freight factoring company purchases your freight bills and sends you cash for up to 100% of the invoice (less factoring fees) within 24 to 48 hours.
- The freight factoring company collects payment from your customers and sends you any reserve as final payment.
Truck factoring companies advance you cash to keep your trucks on the road, but they also do much more. Trucking factoring companies typically provide back-office functions such as credit checks on brokers and shippers; invoice generation and submission; receivables processing and accounting; as well as professional collections. These services are extremely helpful to any trucker, whether your a single owner-operator or a large carrier.
Speed is critical in the trucking industry, especially when you need to get paid for your deliveries. It’s why the entire trucking industry depends on freight factoring. Whether you’re an independent owner-operator, mid-size fleet, or large carrier, you’ll benefit from freight bill factoring for consistent cash flow. Freight factoring is the fastest way to get paid by your shippers and freight brokers, so you can deliver more loads and grow your business.
Common Myths and Misconceptions about Freight Factoring
There are a few common misconceptions surrounding freight factoring that we’d like to debunk:
- Myth: Freight factoring is only for struggling businesses.
- Reality: Freight factoring is a financial tool used by both new and established trucking companies to improve cash flow and support growth.
- Myth: Factoring companies will interfere with your customer relationships.
- Reality: Factoring companies work professionally and respectfully with your customers, ensuring a seamless transition in the payment process.
- Myth: Freight factoring is expensive.
- Reality: While there are costs associated with freight factoring, the benefits often outweigh the fees, especially when considering improved cash flow and increased business opportunities.
FactoringClub
FactoringClub helps trucking companies like yours find the best freight factoring company. We know the truck factoring business like nobody else. Our services are no-cost to you. We get paid a referral fee all our factoring company partners.
Some factoring brokers typically work with only a few factoring companies. These brokers are inherently biased toward their factoring companies. In essence, you can view them as outside sales agents or representatives.
FactoringClub works with a multitude of freight factoring companies, so we can find the very best factoring company for your business. With over 100 factoring company partners, FactoringClub has the largest network of factoring companies available in the United States and Canada.
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