Transportation Factoring
Truckstop Factoring for Faster Pay, Payment Protection, and Full-Service Billing.
Whether you’re just starting out in the trucking business as an owner-operator or you’re struggling with cash flow challenges, transportation factoring can take the worry out of managing your finances.
Instead of waiting weeks or even months for a broker to pay you, with Truckstop Factoring, you can get paid within a day, once your submitted invoice is approved. Truckstop Factoring provides you with immediate cash and helps you keep up on operating expenses, so you can keep your wheels turning and earning more money.
- No more waiting 30 – 45+ days for a broker to process your invoices and pay you.
- Let your factoring company do your back-office invoicing, so you can focus on hauling loads and making money.
- Control when and which loads you wish to factor. Unlike some factoring companies, Truckstop Factoring has no minimum requirements, so you can factor only when you need to.
Choose a factoring company that puts carriers first.
There are many factoring companies out there. Choose one that works with you, offers flexible terms and knows the unique needs of the freight transportation industry. Factoring solutions are not all the same, and factoring companies vary widely in their contracts and requirements. Don’t sign on the dotted line until you’ve done your homework and read the fine print. Look for a factoring solution that offers choice and flexibility. Here are some things to watch for:
- Does the factoring company require you to commit to a lengthy contract you’re not comfortable with?
- What is the financial penalty if you break a factoring contract?
- Are you required to factor all your loads?
- How much does it cost?
- Do they offer non-recourse factoring? Non-recourse factoring protects you against risk in the event the broker doesn’t pay the invoice. With non-recourse factoring, you still get paid by the factoring company. This type of invoice factoring ensures you get paid for the work you do and is the best type of factoring for owner-operators and carriers in the freight transportation industry.
Transportation factoring made easy.
Spend less time chasing payments and more time hauling. Truckstop Factoring puts you in control.
- Express funding, even nights and weekends.
- Factor only the invoices you want.
- No reserves or hidden fees.
- View your unpaid and paid load history.
- Optional non-recourse protection for peace of mind.
Truckstop Factoring gives carriers flexible, transparent factoring built to save you time and keep your cash flow strong.
Get your rate and apply
See your tailored factoring rate in seconds and start your application.
Your Estimated Factoring Rate*
Based on your monthly volume, average invoice size, and current Truckstop Load Board plan.
Custom Pricing Available
For factoring of this size, our team provides personalized pricing and service. Contact us for a tailored quote.
* Disclaimer: Estimated rates are for informational purposes
only.
Actual rates and terms may vary based on qualification
and approval.
Not only do freight owner-operators trust Truckstop to find good loads, they trust us to get paid.
If there’s one thing predictable about the freight industry, it’s that it’s unpredictable. Market conditions ebb and flow, which can impact cash flow. Even in uncertain times, getting paid should be a certainty. That’s where freight factoring comes in to take the burden off. At Truckstop, we make the process simple, so you can get to the task at hand: finding loads and making money.
Here’s how Truckstop Factoring works: You’ve booked a load and successfully moved your freight. Instead of invoicing the broker (when you find the time to get to it) and waiting weeks to get paid, you submit your paperwork to Truckstop Factoring. You can even do this from the road with our mobile app. Once the freight bill factoring team verifies the invoice, you get payment right away (often within 24 hours).
GET STARTEDUnburden yourself from back-office backlog.
Maybe your trucking operation is going gangbusters, keeping your truck or fleet on the road, and keeping you busier than ever. Maybe for the first time, you can’t keep up with back-office billing and invoicing. This is another reason to take a look at Truckstop’s transportation factoring services. Truckstop Factoring takes the paperwork and invoicing tasks off your hands and shifts it to our full-service billing team, saving you hours of valuable time and eliminating invoicing headaches.
Sign Me UpDon’t let cash-flow concerns drive your business to a screeching halt.
The name of the game is to keep your wheels turning and the cash flowing in. But in lean times or when facing late payments, not only do you need money to carry on, you need to keep your business moving forward. You need that next load and loads lined up after that. Lack of cash with no access to capital can stall out your efforts in the most fundamental way if you can’t afford the fuel or expenses to accept another load and keep going.
Business loans are one solution, but any extra debt you carry is a business liability. Plus, have you ever tried to play financial catch-up? You know it’s not fun and extremely stressful. Not to mention the hefty interest rates that can come with a traditional bank loan. Like with any business, the less debt you take on, the better your financial stability.
Truckstop Factoring keeps you moving forward, whatever obstacles you’re facing. And it means you can focus on the core of your business and growing it to even greater profitability.
START FACTORINGFAQs
In the world of finance, factoring allows a business to get money immediately based on the future income due to them on an outstanding invoice or invoices. A third party—the invoice factoring company—assumes the role (and the risk) of collecting on the invoice.
In the world of freight, factoring is a financial solution that helps carriers avoid cash flow problems. Factoring allows carriers to get paid on an invoice owed to them on a completed haul—but before the invoice has been paid by the broker. The factoring company buys your unpaid invoices, pays you immediately minus a small fee for their services, and then collects the money from the broker to pay themselves and complete the circle.
No, with Truckstop Factoring you have complete flexibility. You can choose to factor only the loads you want to factor, when you need to factor them. There are no minimum requirements or long-term contracts that force you to factor every load.
Not at all. Factoring is a common and respected financial tool used by businesses of all sizes across many industries. It’s a smart way to manage cash flow and is often seen as a sign of good business management. Many successful companies use factoring to maintain steady cash flow and avoid the stress of waiting for payments.
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