Best Trucking Factoring Companies
Compare our award-winning factoring companies for your trucking business. Quick approvals, competitive rates, excellent terms and outstanding service!
As the premier online resource for factoring companies, FactoringClub honors the best of the best. Each year, we rank the top freight factoring companies in the industry based on contract terms, customer service and company leadership.
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.
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.
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.
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.
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 funded the same day. Vero also offers fuel discounts, fuel advances, flexible fund transfers, as well as full back-office support.
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.
Freight Factoring Companies
Trucking carriers of all sizes use freight factoring companies to provide consistent cash flow needed to haul more loads and grow their businesses. Speed is critical in the trucking industry, and freight factoring is the fastest way to get paid for your delivered loads.
Freight factoring companies can fund your freight bills quickly. You simply send a copy of your freight bill to the factoring company and they send you cash, usually within 24 hours. Most truck factoring companies provide an online portal so you can track all your activity.
Truckers depend on reliable, quick pay from all their brokers and shippers. Whether your an independent owner-operator, mid-size fleet, or large carrier, you’ll benefit from freight bill factoring.
Customer ServiceThe best factoring companies offer excellent customer service, because you want to work with friendly, sharp and experienced people. You’re usually assigned a personal account manager to help handle any issues or questions you have with your invoices and customers. Account managers should be responsive and attentive to your everyday needs, so you’re not worried about cash flow.
Terms and Features
Truck factoring companies offer rates of 2% to 5%, depending on your monthly volume and customers. Our award winning companies have excellent terms with no-term or monthly contracts, and no monthly minimums. They don’t require you factor all your invoices, so you can select and choose which customers and freight bills you want to factor.
They typically 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.
Advance rates are usually 90% and above, with some trucking factoring companies offering 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.
Our factoring company awards are independently based on standard terms of service, customer service and industry leadership. FactoringClub has referral agreements with all our sponsor factoring companies, not just the award winners. Call our factoring experts at 866-748-7111 for free consulting and broker services.