Maintaining sufficient cash flow for your trucking company doesn’t need to be complicated. With one of the best invoice-factoring companies for the transportation industry, you can receive the money you need to pay your bills for a small fee upfront.
In this guide, you will discover the top factoring companies for trucking and learn more about this business strategy. These businesses specialize in invoice factoring for trucking companies and have the industry-specific experience to help you succeed.
Quicklook: Best factoring companies for trucking
- Best for trucking specialists: TAFS
- Best for owner-operators: eCapital
- Best for OTR trucking: TAB
- Best for instant payments: TruckSmarter
- Best for flexibility: Porter Freight Funding
- Best for fast turnaround time: RTS Financial-find factoring
- Best for small to midsize carriers: OTR Capital-find factoring
- Best for customer service: Apex Capital Corp-find factoring
8 best factoring companies for trucking
Here’s a closer look at what these invoice-factoring companies can offer trucking companies like yours.
TAFS

TAFS is a specialist when it comes to factoring in the trucking industry. This company works to provide you with fast turnaround times for the funding you need to operate. Additionally, TAFS can assist you with your business via its higher-paying freight connections, partnership discounts and competitive rate financing options.
Best for: Trucking specialists
Services:
- Recourse and non-recourse factoring
- Open 365 days per year
- Strong partnerships that can result in higher-paying freight
- Industry partnership discounts
- Fast turnaround times, including one-hour advances
- Fuel discounts
Maximum funding: $50 million
Discount rate: 0.8-5%
Expected APR: Upwards of 2.49%
Advance rate: Up to 100%
Recourse factoring: Yes
Non-recourse factoring: Yes
Funding time: Same-day funding options
Minimum credit score: No minimum qualifications
BBB rating: A
Special features:
- 24-hour turnaround options
- Nationwide fuel discounts
- Low rates for one-truck companies
- Open 365 days per year
Benefits:
- Fast funding
- Recourse and non-recourse factoring
- Positive industry reputation
- Industry experience
Disadvantages:
- Loan amounts and rates not provided upfront
- Difficult to converse with customer service agents
eCapital

Specializing in getting small and medium companies the funding they need to reach their goals, eCapital is an excellent choice for freight and invoice factoring. Its dedicated transportation factoring has helped thousands of trucking companies get paid fast and improve cash flow. eCapital also offers total banking solutions such as Visa commercial cards and InstaPay transfers.
Best for: Owner-operators
Services:
- Recourse and non-recourse factoring
- Load board with automatic credit checks
- Visa commercial debit cards
- Integrated load board and TMS
Maximum funding: Not available
Discount rate: Not available
Expected APR: Not available
Advance rate: Not available
Recourse factoring: Yes
Non-recourse factoring: Yes
Funding time: Instant
Minimum credit score: No
BBB rating: A-
Special features:
- eCapital Visa commercial cards
- Extra lines of credit
- Load board with integrated credit checks
Benefits:
- Complimentary back office support
- Fuel discounts
- 24/7 support
- Instant pay options
Disadvantages:
- No transparent APR or funding limits
- Customer complaints regarding rate increases

TAB
TAB is a full-service bank in Utah that can help you grow and manage your trucking business. Since 1998, TAB has specialized in meeting the unique needs of over-the-road truckers and has the experience necessary to be a reliable freight-factoring partner. Its services are tailored to suit transportation companies’ needs with easy-to-use solutions, favorable rates and fast service.
Best for: OTR trucking companies
Services:
- Recourse factoring
- Selective invoicing
- Billing and collections
- Freight broker factoring
Maximum funding: Not available
Discount rate: N/A
Expected APR: Not available
Advance rate: Up to 97%
Recourse factoring: Yes
Non-recourse factoring: No
Funding time: 24 hours
Minimum credit score: No
BBB rating: A-
Special features:
- Omnichannel customer support
- QuickBooks integration
- No minimums
- 24-hour funding
Benefits:
- No start-up fees
- Fuel advances and cards
- Mobile app
Disadvantages:
- Long contract lengths
- No non-recourse factoring options
TruckSmarter

TruckSmarter is known for how quickly it pays its customers. Along with instant payment upon invoice approval directly into driver accounts, TruckSmarter gives all of its factoring customers a 2.5% flat rate plus a noteworthy 1% cash back program.
TruckSmarter is the only freight factoring company that provides instant access to funds. Drivers do not need to wait for ACH payments to enter their bank account. As soon as an invoice is approved, drivers can access funds and spend their money instantly.
Best for: instant payments
Services:
- Instant pay upon invoice approval
- Billing, invoicing and collections
- Broker credit checks
- Exclusive fuel discounts
- Chicago-based customer service team
- Access to load board for free
Maximum funding: N/A
Discount rate: Same 2.5% rate for one truck or hundreds
Expected APR: N/A
Advance rate: N/A
Recourse factoring: No
Non-recourse factoring: Yes
Funding time: 0-24 hours
Minimum credit score: No minimum qualifications
BBB rating: Not currently rated
Special features:
- Low 2.5% rate for all business sizes
- Instant pay upon invoice approval
- No additional fees
- No hidden fees
- No minimums
- No annual contracts (month-to-month)
- Exclusive, nationwide fuel discounts
- Highly rated, Chicago-based customer service team
Benefits:
- Fast funding
- Non-recourse factoring
- Positive industry reputation
- Industry experience
- No monthly requirements
- No start-up fee
- Free broker credit checks
- Easy in-app invoicing
- Exclusive, nationwide fuel discounts
- Provides buyout options
- No credit approval needed
- Access to cardless fuel discounts, up to $1.50/gal off
- Access to 100% free load board that combines all of the loads from the industry’s biggest load boards, so you can see all available loads in one place
Disadvantages:
- Free money transfers into and from other bank accounts must be initiated in the app.
- While desktop capabilities are anticipated in 2024, factoring is currently all done through the mobile app.

Porter Freight Funding
Formed in 2011, Porter Freight Funding is the factoring arm of Porter Capital. Through acquiring Decatur’s Resource Billing Services, Porter Freight Funding has nearly 100 years of cumulative experience in the transportation factoring sector. Porter Freight Funding is perfect for owner-operators and mid-sized trucking companies. It offers a wide array of flat rate pricing, contract lengths and payment terms.
Best for: Flexibility
Services:
- Same-day freight factoring
- Freight brokerage
- Dispatch
- Fuel cards
- Insurance
- Compliance
- Billing, invoicing and collections
- Broker credit checks
Maximum funding:
- Low: $10,000
- High: $25 million
Discount rate: N/A
Expected APR: 1.5%
Advance rate: 90%
Recourse factoring: Yes
Non-recourse factoring: Yes
Funding time: Within 24 hours
Minimum credit score: N/A
BBB rating: A+
Special features:
- Mobile app
- Dedicated account executive
- Vetted dispatchers
- Fuel cards
- Fuel discounts
Benefits:
- Same-day funding
- No monthly minimums
- Yearly, bi-annual or month-to-month contracts
- Dedicated client care
- Fuel advance of 45% of the load
- Dispatchers for the following:
- Reefer
- Hotshot
- Flatbed
- Van
- Power-only
- No minimum factoring requirement for companies with no more than two trucks
Disadvantages:
- Not specifically built for fleets
RTS Financial

Since its establishment in 1995, RTS has been committed to supporting trucking companies in improving their cash flow, reducing fuel expenses, and enhancing overall operational efficiency. While certain factoring companies opt for flexible arrangements, RTS Financial prioritizes long-term contracts lasting at least one year. By emphasizing the development of strong partnerships with trucking companies, RTS Financial ensures the provision of dedicated and personalized services.
Best for: Fast turnaround times
Services:
- 24-hour funding
- Billing and collection services
- Customer credit services
- Online reporting
- Select invoice factoring
- Fuel cards
- Freight broker factoring
Maximum funding: $30 million
Discount rate: N/A
Expected APR: N/A
Advance rate: Up to 97%
Recourse factoring: No
Non-recourse factoring: Yes
Funding time: Within 24 hours
Minimum credit score: N/A
BBB rating: B
Special features:
- Only non-recourse factoring
Benefits:
- No start-up fee
- No minimum fee
- No hidden fees
Disadvantages:
- Issues with communication
- Described as confusing for users
OTR Capital

OTR Capital is a factoring company specializing in the trucking industry, with a primary focus on serving small to mid-sized carriers. Their programs are specifically designed to cater to the unique needs of these carriers.
In addition to their factoring services, OTR Capital has expanded their offerings and formed strategic partnerships to create a comprehensive “One-Stop-Shop” solution within the trucking industry. This means that carriers can access a wide range of additional services and resources through OTR Capital, making it a convenient and comprehensive solution for their business needs.
Best for: Small to Midsize carriers
Services:
- True Non-Recourse factoring
- Industry leading load board and technology partnerships
- Easy invoicing via client portal and mobile app
- Same day funding
- Dedicated account management teams
- Free credit checks
- Brokerage factoring programs
Maximum funding: $25 million
Discount rate: 1-4%
Expected APR: N/A
Advance rate: Up to 99%
Recourse factoring: Yes
Non-recourse factoring: Yes
Funding time: Same day funding
Minimum credit score: N/A
BBB rating: A+
Special features:
- Vast TMS integration capabilities
- Proprietary technology
Benefits:
- No hidden fees
- No monthly requirements
- Broker checks
- Transparent online reporting
- Fuel discounts
Disadvantages:
- High credit risk customers may not be approved
Apex Capital Corp

Apex Capital Corp stands out as a leading provider of 24/7 freight factoring and exceptional customer service. This reputable full-service factoring company specializes in assisting trucking companies in maintaining a consistent cash flow by offering factoring services even during nights, weekends, and bank holidays.
In addition to their reliable factoring services, Apex goes the extra mile to support its customers. They offer valuable perks such as discounts on fuel, hotels, and prescription cards, which further contribute to the financial well-being of their clients. Apex Capital Corp truly prioritizes the success and satisfaction of the trucking companies they serve.
Best for: Customer service
Services:
- 24/7 factoring
- Same-day and next-day funding
- Professional collections on factored invoices
Maximum funding: N/A
Discount rate: N/A
Expected APR: N/A
Advance rate: Between 80% and 90%
Recourse factoring: Yes
Non-recourse factoring: Yes
Funding time: Within 24 hours
Minimum credit score: N/A
BBB Rating: A+
Special features:
- Apex 24/7 Roadside Rescue
Benefits:
- Great customer service
- No monthly minimum volume fees
- No long-term contracts
- Fuel cards with discounts
Disadvantages:
- Must process invoices through Apex Capital
What is invoice factoring?
Invoice factoring is when a business sells outstanding invoices to a third-party company at a discount. Through invoice factoring, trucking companies can remove a strain on cash flow and stay current on their expenses even when clients fall behind on their payments.
How does invoice factoring work?
In nearly every industry, it’s common for clients not to pay their invoices immediately after a company performs services. Instead, companies will typically have to wait up to thirty days to receive payment for the jobs they complete.
When businesses have plenty of available cash, this problem is not an issue. However, trucking companies also have bills, such as payroll, vehicle repairs and other expenses. If there is a gap between a company’s income and expenses, factoring is an option that allows them to receive money upfront for their pending invoices.
Instead of waiting for the customer to pay their invoice, the business sells it to a factoring company at a discount. The factoring company is now responsible for collecting payment from the customer and earns the difference between the amount they purchased the invoice for and what the original client pays.
Considerations when selecting an invoice-factoring company
Here are some things to keep in mind when choosing a freight-factoring company.
Overall cost
Invoice-factoring companies and freight-factoring specialists earn money by charging a small percentage of each invoice you factor with them. Even though you are getting paid upfront, the money you’ll receive is slightly less than the value of your initial invoice. Additional fees for services like money transfers or collection costs may also exist.
Funding speed
The main point of invoice factoring is to receive your payments more quickly to cover other business costs. Invoice factoring is only a good option if the funds are available when you need them.
Look into the guarantees made by the factoring companies you are considering working with before you trade your invoices. For example, most factoring companies will have a 24-hour turnaround time, but this timeframe can change based on the amount that you want to receive.
Credit score requirements
Using a factoring company does not require in-depth credit score checks since no debt is involved. Factoring companies may still check credit scores, but they focus more on your customers and their credit scores than yours. Since the factoring company will be waiting on payment from your customers rather than you, their credit score is more relevant.
When you sell your invoices, you will receive cash that you can use to ensure you won’t miss any of your payments. Additionally, compared to taking financing from banks, using a factoring company does not affect your credit score, whereas bank financing can harm your score.
Industry expertise
The factoring company you choose to work with should be about your field. Likewise, you should stay up to speed with current measures and trends regarding payment amounts, speeds, factoring and other financial considerations that can affect your invoice factoring. It is important that you fully understand factoring and what the standard rates are before you choose a specific factoring company.
BBB rating
The Better Business Bureau (BBB) is the standard for rating companies’ interactions with the public and with customers as well as the functionality of the business itself.
It has a rating system from A+ to F to help you understand whether your factoring company is worth interacting with. The BBB is also an excellent resource for checking customer reviews for satisfaction and customer service.
Customer service
The customer service record of the factoring companies you are considering working with is essential. By looking through customer reviews, you can determine if the company is slower than they advertise when sending funds or if they have hidden fees. Customer reviews are a valuable resource for discovering these problems.
Invoice factoring for trucking companies
With one of the best factoring companies for trucking, you can get the upfront cash you need to keep your business running smoothly. These trusted companies purchase your invoices and chase payments from your customers so you can focus on growing your trucking company.
FAQ
Factoring fees are based on a percentage of the invoice and the risk involved in accepting the responsibility of receiving payment on your behalf.
Invoice factoring fees are typically between 1% and 5%.
Many industries use factoring, though companies in the transportation and health industries are at the top of the list.
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