Exchange Capital is an Arkansas factoring company that focuses on full service accounts receivable factoring and great client relationships.
Trucking Factoring
Best Factoring Companies in Trucking
62 results
Industries we serve
Factoring amounts
$10,000 —
$3,000,000
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2843 Prince Street, Conway, AR
Exchange Capital is an Arkansas factoring company that focuses on full service accounts receivable factoring and great client relationships.
2736 TV Rd, Florence, SC 29501
Match Factors specializes in freight factoring for motor carriers and owner-operators. We offer 95% or higher cash advances, same-day funding, fuel discounts and online account management. No hidden fees and no monthly minimums.
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2736 TV Rd, Florence, SC 29501
Match Factors specializes in freight factoring for motor carriers and owner-operators. We offer 95% or higher cash advances, same-day funding, fuel discounts and online account management. No hidden fees and no monthly minimums.
1780 Hughes Landing Blvd., The Woodlands, TX 77380
New Century Financial is an innovative factoring company in The Woodlands, Texas that has been serving businesses across the US since 1985.
Industries we serve
Factoring amounts
$50,000 —
$5,000,000
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1780 Hughes Landing Blvd., The Woodlands, TX 77380
New Century Financial is an innovative factoring company in The Woodlands, Texas that has been serving businesses across the US since 1985.
840 Lowcountry Blvd., Mt Pleasant, SC 29464
SouthStar Capital is a factoring company near Charleston, South Carolina that delivers working capital solutions quickly and timely.
Industries we serve
Factoring amounts
$50,000 —
$5,000,000
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840 Lowcountry Blvd., Mt Pleasant, SC 29464
SouthStar Capital is a factoring company near Charleston, South Carolina that delivers working capital solutions quickly and timely.
11645 S 700 E., Draper, UT 84020
Tetra Capital is a Salt Lake City factoring company that provides quick and easy freight factoring services with no long-term contracts or hidden fees.
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11645 S 700 E., Draper, UT 84020
Tetra Capital is a Salt Lake City factoring company that provides quick and easy freight factoring services with no long-term contracts or hidden fees.
1000 Holcomb Woods Parkway, Roswell, GA 30076
OTR Capital is an Atlanta factoring company that specializes in freight and trucking factoring and provides great customer service.
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1000 Holcomb Woods Parkway, Roswell, GA 30076
OTR Capital is an Atlanta factoring company that specializes in freight and trucking factoring and provides great customer service.
8707 E. Vista Bonita Dr., Scottsdale, AZ 85255
Phoenix Capital Group is a Scottsdale, Arizona factoring company that specializes in freight factoring nationwide and was founded in 2001.
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8707 E. Vista Bonita Dr., Scottsdale, AZ 85255
Phoenix Capital Group is a Scottsdale, Arizona factoring company that specializes in freight factoring nationwide and was founded in 2001.
19701 Kingwood Dr, Kingwood, TX
Power Funding is a Houston factoring company that specializes in oilfield factoring services to oil and gas businesses across the nation.
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19701 Kingwood Dr, Kingwood, TX
Power Funding is a Houston factoring company that specializes in oilfield factoring services to oil and gas businesses across the nation.
615 Molly Lane, #130, Woodstock, GA, 30189
Eagle Business Credit is an Atlanta factoring company that provides invoice factoring services to a wide variety of industries nationwide.
Industries we serve
Factoring amounts
$10,000 —
$5,000,000
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615 Molly Lane, #130, Woodstock, GA, 30189
Eagle Business Credit is an Atlanta factoring company that provides invoice factoring services to a wide variety of industries nationwide.
9810 FM 1960 Bypass Rd W Suite 205, Humble, Texas 77338
Single Point Capital is a full-service Houston-area factoring company with over 60 years' experience in the invoice factoring industry.
Industries we serve
Factoring amounts
$10,000 —
$5,000,000
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9810 FM 1960 Bypass Rd W Suite 205, Humble, Texas 77338
Single Point Capital is a full-service Houston-area factoring company with over 60 years' experience in the invoice factoring industry.
3284 N 29th Ct, Hollywood, FL 33020
Freight Factoring Specialists is a Miami factoring company that is family-owned and and specializes in transportation and freight factoring.
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3284 N 29th Ct, Hollywood, FL 33020
Freight Factoring Specialists is a Miami factoring company that is family-owned and and specializes in transportation and freight factoring.
888 Veterans Memorial Hwy, Hauppauge, NY
Alliance One is a New York City based factoring company for small to medium-size businesses with over 40 years of industry experience.
Industries we serve
Factoring amounts
$10,000 —
$10,000,000
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888 Veterans Memorial Hwy, Hauppauge, NY
Alliance One is a New York City based factoring company for small to medium-size businesses with over 40 years of industry experience.
1201 W. Russell St., Sioux Falls, SD
Aladdin Financial is a South Dakota freight factoring company that has big roots in the trucking industry and offers competitive rates.
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1201 W. Russell St., Sioux Falls, SD
Aladdin Financial is a South Dakota freight factoring company that has big roots in the trucking industry and offers competitive rates.
6910 Santa Teresa Blvd, San Jose, CA
AeroFund Financial is a San Jose factoring company that has provided factoring services to small businesses since 1987.
Industries we serve
Factoring amounts
$10,000 —
$5,000,000
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6910 Santa Teresa Blvd, San Jose, CA
AeroFund Financial is a San Jose factoring company that has provided factoring services to small businesses since 1987.
3010 Lyndon B Johnson, Dallas, TX
Goodman Capital Finance is one of the oldest factoring companies in the Southwest. We offer competitive rates, quick approvals and same-day funding. You give us your invoices and we give you the cash.
Industries we serve
Factoring amounts
$30,000 —
$15,000,000
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3010 Lyndon B Johnson, Dallas, TX
Goodman Capital Finance is one of the oldest factoring companies in the Southwest. We offer competitive rates, quick approvals and same-day funding. You give us your invoices and we give you the cash.
455 N. Maize Rd, Wichita, KS 67212
Tacoma Capital is a Wichita, Kansas factoring company that will make your factoring experience as smooth and efficient as possible.
Industries we serve
Factoring amounts
$10,000 —
$2,000,000
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455 N. Maize Rd, Wichita, KS 67212
Tacoma Capital is a Wichita, Kansas factoring company that will make your factoring experience as smooth and efficient as possible.
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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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