Charter Capital is a Houston factoring company founded in 2001. We offer same-day funding, no long-term contracts and no hidden maintenance fees.
Trucking Factoring
Best Factoring Companies in Trucking
62 results
Industries we serve
Factoring amounts
$10,000 —
$2,000,000
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6750 West Loop S Suite 1010, Bellaire, TX 77401
Charter Capital is a Houston factoring company founded in 2001. We offer same-day funding, no long-term contracts and no hidden maintenance fees.
10622 Hirsch Road, Houston TX 77016
Flash Funding is committed to providing fast, easy and reliable invoice financing to businesses throughout the United States.
Industries we serve
Factoring amounts
$10,000 —
$5,000,000
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10622 Hirsch Road, Houston TX 77016
Flash Funding is committed to providing fast, easy and reliable invoice financing to businesses throughout the United States.
9300 Metcalf Ave., Overland Park, KS 66212
RTS Financial is an Overland Park, Kansas factoring company that is committed to providing outstanding service and customized funding solutions.
Industries we serve
Factoring amounts
$10,000 —
$30,000,000
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9300 Metcalf Ave., Overland Park, KS 66212
RTS Financial is an Overland Park, Kansas factoring company that is committed to providing outstanding service and customized funding solutions.
8981 Castner Dr. Suite E, El Paso, TX 79907
Viva Capital Funding was founded in 1999 by James (“Jim”) T. Garcia. The company was formed with the intent to provide a simple, fast, and reliable funding solution.
Industries we serve
Factoring amounts
$100,000 —
$5,000,000
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8981 Castner Dr. Suite E, El Paso, TX 79907
Viva Capital Funding was founded in 1999 by James (“Jim”) T. Garcia. The company was formed with the intent to provide a simple, fast, and reliable funding solution.
3518 Heathrow Way, Medford, Oregon 97504
Steelhead Finance is an Oregon factoring company located in Medford that has provided factoring services to transportation businesses since 1981.
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3518 Heathrow Way, Medford, Oregon 97504
Steelhead Finance is an Oregon factoring company located in Medford that has provided factoring services to transportation businesses since 1981.
1202 Monte Vista Ave, Upland, California 91786
Advance Capital Solutions is a Los Angeles area factoring company that was started by factoring veterans with over 40 years of experience.
Industries we serve
Factoring amounts
$10,000 —
$500,000
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1202 Monte Vista Ave, Upland, California 91786
Advance Capital Solutions is a Los Angeles area factoring company that was started by factoring veterans with over 40 years of experience.
14100 Southwest Frwy, Houston, TX
Sallyport Commercial Finance is a Houston, TX factoring company that offers a full-range of working capital products for businesses.
Industries we serve
Factoring amounts
$100,000 —
$10,000,000
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14100 Southwest Frwy, Houston, TX
Sallyport Commercial Finance is a Houston, TX factoring company that offers a full-range of working capital products for businesses.
701 Canyon Dr., Coppell, TX
Triumph Financial is a division of Triumph Bancorp, Inc. We’re an invoice factoring company with more than 100 dedicated employees to serve you with expert credit, collections and account management.
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701 Canyon Dr., Coppell, TX
Triumph Financial is a division of Triumph Bancorp, Inc. We’re an invoice factoring company with more than 100 dedicated employees to serve you with expert credit, collections and account management.
1108 Washington Ave S., Madison, SD 57042
FirstLine Funding has staff with over 50 years of combined factoring experience and we serve various industries in almost every state.
Industries we serve
Factoring amounts
$10,000 —
$3,000,000
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1108 Washington Ave S., Madison, SD 57042
FirstLine Funding has staff with over 50 years of combined factoring experience and we serve various industries in almost every state.
767 Fifth Avenue 12th Floor, New York, NY 10153
We are a private funding source that understands a company’s cash flow needs. We work to design a tailored program for each of our clients, so that you can get cash quickly, when you need it.
Industries we serve
Factoring amounts
$10,000 —
$2,000,000
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767 Fifth Avenue 12th Floor, New York, NY 10153
We are a private funding source that understands a company’s cash flow needs. We work to design a tailored program for each of our clients, so that you can get cash quickly, when you need it.
500 W. 10th Street, Sioux Falls, SD
CarrierNet Group Financial combines top-notch technology and administrative support with freight factoring services to help trucking companies meet their goals and grow their businesses.
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500 W. 10th Street, Sioux Falls, SD
CarrierNet Group Financial combines top-notch technology and administrative support with freight factoring services to help trucking companies meet their goals and grow their businesses.
1700 W Walnut Ave #B, Visalia, CA 93277
Transwest Capital is a California factoring company located in Visalia that provides invoice factoring services for business services, oil and gas, staffing and trucking industries.
Industries we serve
Factoring amounts
$10,000 —
$1,000,000
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1700 W Walnut Ave #B, Visalia, CA 93277
Transwest Capital is a California factoring company located in Visalia that provides invoice factoring services for business services, oil and gas, staffing and trucking industries.
Downers Grove, IL 60515
Sky Business Credit is a Chicago factoring company that funds nationwide small businesses from start-ups to $1.5M a month in sales volume.
Industries we serve
Factoring amounts
$10,000 —
$1,500,000
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Downers Grove, IL 60515
Sky Business Credit is a Chicago factoring company that funds nationwide small businesses from start-ups to $1.5M a month in sales volume.
7225 Langtry St, Houston, TX
Amerisource Business Capital is a Houston factoring company founded in 1984 that builds relationships on trust. No minimum fees or long-term contracts.
Industries we serve
Factoring amounts
$50,000 —
$15,000,000
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7225 Langtry St, Houston, TX
Amerisource Business Capital is a Houston factoring company founded in 1984 that builds relationships on trust. No minimum fees or long-term contracts.
3126 N Lincoln Ave, Chicago, IL 60657
DSA Factors is a Chicago factoring company dedicated to the growth and success of clients by providing quick accounts receivable funding.
Industries we serve
Factoring amounts
$10,000 —
$5,000,000
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3126 N Lincoln Ave, Chicago, IL 60657
DSA Factors is a Chicago factoring company dedicated to the growth and success of clients by providing quick accounts receivable funding.
2600 Lucien Way, Maitland, FL
LSQ Funding is a factoring company in the Orlando, Florida area that provides accounts receivable financing to growing companies nationwide.
Industries we serve
Factoring amounts
$100,000 —
$20,000,000
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2600 Lucien Way, Maitland, FL
LSQ Funding is a factoring company in the Orlando, Florida area that provides accounts receivable financing to growing companies nationwide.
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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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