Trucking · Invoice factoring
Invoice factoring for trucking companies
Fuel, insurance and drivers are paid now, while brokers and shippers often pay in 30 to 60 days. Freight factoring turns delivered loads into cash in days so a carrier can keep trucks moving.
What to know
What carriers should know about freight factoring.
The bill of lading and rate confirmation drive funding.
Most freight factors advance against signed delivery paperwork, so submitting complete documents the same day as delivery speeds up funding.
Broker and shipper credit is what gets underwritten.
Factors credit-check the brokers and shippers you haul for. Loads from brokers with poor payment history may be declined or priced higher.
Fuel advances are a common add-on.
Some programs offer fuel cards or same-day advances, which can matter more to an owner-operator than a small difference in the discount fee.
Spot vs. contract factoring.
Some factors let a carrier factor individual loads, while others require all invoices be factored under a monthly minimum. Choose based on how steady your freight is.
FAQ
Common questions from trucking companies.
Can an owner-operator with one truck use freight factoring?
Yes. Many freight factors work with single-truck owner-operators because underwriting centers on the brokers and shippers you haul for rather than the size of your fleet.
How fast does freight factoring pay?
Many programs advance within 24 hours of submitting delivery documents, and some offer same-day funding for a fee. Timing depends on the provider and when paperwork is received.
Is recourse or non-recourse better for a carrier?
Recourse is usually cheaper but leaves you responsible if a broker never pays. Non-recourse costs more and typically covers only certain non-payment events, so read what it actually covers.
Is Truidian a lender or factoring company?
No. Truidian is a business solutions company. It helps businesses identify and connect with participating third-party providers, who make every approval, pricing and terms decision.
Tell us about your trucking business.
Share a few details and we'll identify participating providers whose programs may fit.
Truidian is a business solutions company, not a lender, factoring company or payment processor. Financing and services are offered by participating third-party providers and are subject to their approval and terms. Approval, funding, rates and terms are not guaranteed.