Best Trucking Factoring Companies
Low startup fees, short-term contracts, no minimum fees and selective invoicing.
They have a reputation for handling clients in a friendly and professional manner.
Company executives are experienced and engaged in industry affiliations.
Phoenix Capital Group (PCG) provides freight factoring to trucking companies, as well as freight brokers, all across the the U.S. You get fast, reliable factoring services with competitive rates and a plethora of features and benefits. PCG offers a free online load board, fuel cards, free credit checks, non-recourse factoring, online account access and equipment financing. You don't have to sign a long-term contract or pay minimums. You can get set up within 24 hours.
Freight Factoring Specialists (FFS) is a freight factoring company in South Florida that was founded on the values of customer service. They enjoy what they do and it shows in their attitude and service. You'll want to do business with these people. FFS offers a complete back-office solution, fuel discount cards, free credit checks, non-recourse factoring and online account access. You aren't required to sign a long-term contract or pay minimums.
ACS Factors provides freight bill factoring for transportation companies in California, especially in the southern distribution corridor area of Ontario, Riverside, Fontana, Jurupa Valley, and Moreno Valley. ACS is all about customer service; not only do you get a personal account executive, but you also have access to the CEO. ACS offers fuel cards, free credit checks, non-recourse factoring and an online account portal. You don't have to sign a long-term contract or pay minimums.
Match Factors is a South Carolina freight factoring company that's been delivering friendly customer service since 1985. You'll experience a positive client relationship and get treated like family. Match Factors offers Comdata fuel cards, free credit checks, as well as a broker quick pay matching program. You don't have to sign a long-term contract or pay minimums. You can also manage your account on an online client portal.
Tetra Capital is a freight factoring company near Salt Lake City that's been providing quick and easy freight bill factoring services since 2010. They understand all trucking companies aren't the same, so you'll get the personal attention your business deserves. Tetra offers fuel cards, free credit checks as well as Truckers B2B discounts. You don't have to sign a long-term contract or pay minimums. Tetra also provides online account access to manage your account.
Provident Commercial Finance (PCF) is a factoring company that provides factoring services for all business types but specializes in the trucking and transportation industry. You'll get exceptional customer service that is prompt and courteous. Provident offers fuel cards, free credit checks and online account access. You don't have to sign a long-term agreement or pay minimums.
Finding the best freight factoring company
Know what you're looking for in a factoring company.
Truck factoring companies offer rates as low as 1% for the largest carriers. Owner-operators and truck companies with one to five trucks can expect to pay at least 2.5 to 3% for freight factoring services, depending on monthly volume and customers. Freight factoring rates are very competitive and our award-winning companies offer the most competitive rates in the industry.
Advance rates in the trucking industry are typically 90% or more. Some truck factoring companies offer fully-funded or 100% advance rates, in which they don’t hold any reserve when funding your freight bills. They only deduct their factoring fees from your cash advances. You’ll find all our award-winning factoring companies advance at least 95% of your freight bills.
Contract terms vary from one factoring company to another. Some factoring companies lock you in for a year or more, providing no way out if you decide to leave. A contract with annual renewals and a 60-day notice of cancellation can keep you from terminating your contract unless you pay a hefty cancellation fee. You’ll find all of our award-winning factoring companies offer no-term or short-term contracts.
Some factoring companies require you factor all your freight bills or require you factor a minimum amount every month. They charge you a fee if you don’t factor the minimum volume. You’ll find our award-winning factoring companies don’t charge minimum fees and let you select which customers that you want to factor.
Some factoring companies get your business, then leave you less than satisfied with their services. Good factoring companies are readily available and responsive to your requests for help, with friendly professional service. You may be assigned a personal, designated account manager to handle any issues or questions you have with your invoices and customers. Our award-winning companies have solid reputations in the industry for providing good service.
Freight factoring companies often provide additional benefits and services such as fuel cards, repair and maintenance discounts and load boards. 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 will cost more but may give you the peace of mind you need to sleep at night.
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.
Helping you find the right factoring company for your business.
FactoringClub is the premier online resource for factoring companies. Our mission is to help you find the right factoring company for your business. Every year, we award our top factoring company sponsors based on contract terms, customer service and company leadership. FactoringClub has referral agreements with all our sponsors, not just award winners.