FactoringClub

Best Trucking
Factoring Companies

Rick Hultz

Rick Hultz • Club President

FactoringClub Awards 2019

As the premier online resource for factoring companies in the U.S. and Canada, we have selected this year’s top 8 freight factoring companies based on contract terms, customer service and company leadership.

Best factoring companies of 2019 award emblem.

EXCELLENT TERMS   •  OUTSTANDING SERVICE  •  PROVEN LEADERSHIP

John Cummings of ACS Factors
"When our client’s benefit from what ACS provides, we have met our mission."
John, CEO
Contact
1202 Monte Vista Ave, Upland, CA

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.

Financial Information:

Minimum Credit Facility ($): No minimum
Maximum Credit Facility ($): 500,000
Advance Rate (%): 80-95%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? Month-to-month
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Fully funded
What additional fees do you charge? ACH and wire fees
Talley Clower of Provident Commercial Finance
"At PCF, it’s not about us, it’s about you. Give us the opportunity to prove you are the reason we go to work every day."
Talley, Owner
Contact
5901 Shallowford Rd, Chattanooga, TN

Provident Commercial Finance (PCF) is a factoring company that provides factoring services for all business types but specializes in the trucking and transportation industry. The PCF slogan is "It's not about us, it's about you and your company." 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.

Financial Information:

Minimum Credit Facility ($): 5,000
Maximum Credit Facility ($): 1,000,000
Advance Rate (%): 80-90%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? Month-to-month
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? You can select which customers you want to factor
When is my reserve available? Semi-monthly or upon request
What additional fees do you charge? Wire fees
Mark Decker of Phoenix Capital Group
"Our goal is to build bridges between our account managers and our clients to ensure a healthy professional relationship."
Mark, Business Development Officer
Contact
8707 E. Vista Bonita Dr., Scottsdale, AZ

Phoenix Capital Group (PCG) provides freight factoring to trucking companies 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.

Financial Information:

Minimum Credit Facility ($): No minimum
Maximum Credit Facility ($): 3,000,000
Advance Rate (%): 90-100%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? Month-to-month
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Upon request
What additional fees do you charge? ACH and wire fees
Sam Schnert of Vero Business Capital
"Our Vero Factoring System (VFS) gives you detailed access to your cash flow, access to funding in just 60 minutes and much more."
Sam, Business Development Manager
Contact
813 Ridge Lake Blvd., Memphis, TN

Vero Business Capital is a Memphis freight factoring company that provides factoring services to all types of transportation companies including owner operators, fleet owners and freight brokers. Vero utilizes their own VFS software to deliver an incredible customer experience. You can submit your invoices via their mobile app and get 60-minute funding. Vero also offers fuel discounts, fuel advances, flexible fund transfers, as well as full back-office support.

Financial Information:

Minimum Credit Facility ($): No minimum
Maximum Credit Facility ($): 10,000,000
Advance Rate (%): 90-98%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? Month-to-month
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Immediately after the customer pays
What additional fees do you charge? ACH and wire fees
Ross Newman of D&S Factors
"We give you the time to focus on your business and do what you do best - getting back on the road, and back to business!"
Ross, Sales Specialist
Contact
6905 Highway 95, Fruitland, ID 83619

D&S Factors is the truck factoring division of Truckstop.com. D&S provides non-recourse factoring services for trucking companies all across the U.S. When you work with D&S Factors, you're freed from all the invoicing and collections so you can focus on your trucking business. D&S offers fuel cards, free credit checks, full service billing, and online account access. You don't have to sign a long-term contract or pay minimums.

Financial Information:

Minimum Credit Facility ($): No minimum
Maximum Credit Facility ($): 20,000,000
Advance Rate (%): 95-97%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $100
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Fully funded
What additional fees do you charge? ACH, wire, EFS or Fleet One fees
Eric Belk of Match Factors
"Match Factors specializes in providing simple, flexible freight factoring solutions to transportation companies with a 95% or higher cash advance."
Eric, Vice President
Contact
2736 TV Rd, Florence, SC

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.

Financial Information:

Minimum Credit Facility ($): No minimum
Maximum Credit Facility ($): 2,000,000
Advance Rate (%): 95-100%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Fully funded
What additional fees do you charge? ACH, wire and Comchek fees
Eric Mandel of Freight Factoring Specialists
"Freight Factoring Specialists is so much more than a transportation factoring company. We treat you as a member of the family."
Eric, VP Business Development
Contact
3284 N 29th Ct, Hollywood, FL

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.

Financial Information:

Minimum Credit Facility ($): 5,000
Maximum Credit Facility ($): 5,000,000
Advance Rate (%): 90-98%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Monthly or upon request
What additional fees do you charge? ACH and wire fees
Jeremy Robison of Tetra Capital
"The goal of our experienced team is to be your partner and help you grow your business with easy and transparent freight factoring services."
Jeremy, President
Contact
6995 Union Park Center, Midvale, UT

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.

Financial Information:

Minimum Credit Facility ($): 5,000
Maximum Credit Facility ($): 1,000,000
Advance Rate (%): 100%

Terms of Service:

How much is your start-up fee? $0
How long is your contract? No-term contract
How much is your cancellation fee? $0
Do I have to pay monthly minimums? No
Can I select which invoices I want to factor? Yes
When is my reserve available? Fully funded
What additional fees do you charge? None

Trucking Factoring Companies

Freight Factoring

Trucking companies of all types and sizes use invoice factoring because it provides consistent cash flow needed to haul more loads and grow their business. Speed is critical in the trucking industry, so carriers use invoice factoring as the fastest way to get paid for delivered loads. Given today’s technology, freight factoring companies can approve and fund your freight bills quickly, often the same day. You simply send a copy of your freight bill to the factoring company and they send you cash the next day. Many factoring companies provide an online account management system so you can track all your activity. Whether your transportation business is a  startup or a large carrier, you can benefit greatly from trucking factoring.

Customer Service

The best factoring companies offer excellent customer service. You want to work with friendly, knowledgeable and experienced people. You may be assigned a personal account manager to help handle any issues or questions that you might have. Account managers should be responsive and attentive to your everyday needs with your invoices and customers.

Factoring companies must have good customer service.
Trucking factoring turns freight bills into immediate cash.

Terms and Features

The best truck factoring companies offer reasonable rates and favorable terms such as no long-term contracts, no monthly minimums and they don’t require you factor all your company invoices. They also provide additional services and benefits such as fuel cards, free credit checks, load boards and insurance assistance. Some freight factoring companies offer the option of non-recourse factoring. Non-recourse factoring is a credit guarantee that protects you from customer non-payment due to bankruptcy or insolvency. Many trucking factoring companies also offer full-advance or 100% advance factoring, in which they don’t hold any reserve when funding your freight bills. They only deduct their factoring fees from your cash advance.

Local factoring services

After you narrow your selection of factoring companies based on your industry, you may prefer a factoring company located in your city or state. FactoringClub provides the information you need with over 100 factoring companies located in most major cities and states. We have listings categorized by city, state and industry. Our search capabilities make it easy for you to select your industry and state and so you can focus on nearby factoring companies.

Freight Factoring Is Quick & Easy

Complete the delivery of goods to your customer and send your freight bill (or BOL) to your freight factoring company.

Your factoring company buys your freight bill and sends you cash for up to 100% of the freight bill within 24 to 48 hours.

Your freight factoring company collects payment from your customers and sends you any reserve as final payment.

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