Top Factoring Services for Trucking Companies in the USA

The trucking industry plays a critical role in the economy, but maintaining steady cash flow can be a challenge due to long payment terms and operational expenses like fuel, maintenance, and payroll. For trucking companies that need quick access to cash, factoring services offer a valuable solution. By selling unpaid invoices to a factoring company, trucking businesses can receive immediate working capital without waiting for customers to pay.

1. Triumph Business Capital

Triumph Business Capital is a leading factoring company that specializes in providing factoring services to trucking companies. With over 15 years of experience in the industry, Triumph offers flexible funding solutions and competitive rates to help trucking companies of all sizes manage cash flow effectively.

Key Features:

Advance Rate: Up to 95%
Fees: Competitive, starting around 1.5% per invoice
Additional Services: Fuel advances, fuel discount cards, free credit checks, online account management
Best For: Small to mid-sized trucking businesses needing flexible, quick funding and fuel management services

Triumph Business Capital offers fuel discount programs through its fuel cards, providing valuable savings on fuel costs. With load boards and free credit checks, Triumph is well-equipped to support trucking companies’ unique needs.

2. RTS Financial

RTS Financial is one of the most popular factoring companies for trucking businesses, offering high advance rates and some of the best fuel discount programs in the industry. RTS Financial provides comprehensive services that include funding, fuel cards, load boards, and quick payment processing.

Key Features:

Advance Rate: Up to 97%
Fees: Competitive, varies based on customer creditworthiness and invoice volume
Additional Services: Fuel cards, fuel discounts, load boards, and equipment financing
Best For: Trucking companies seeking a complete solution for factoring and fuel cost management

RTS Financial offers fuel discounts at over 1,900 truck stops nationwide, making them an excellent choice for trucking companies that want to save on fuel while improving cash flow.

3. OTR Capital

OTR Capital is known for providing transparent, no-contract factoring services designed specifically for the trucking industry. OTR Capital offers quick funding, high advance rates, and no hidden fees, making it a top choice for trucking companies looking for flexibility.

Key Features:

Advance Rate: Up to 95%
Fees: Transparent pricing, with no hidden fees or long-term contracts
Additional Services: Free credit checks, fuel advances, 24/7 online account access
Best For: Trucking companies seeking flexible, transparent factoring services with no long-term commitment

OTR Capital offers spot factoring, allowing trucking companies to factor invoices as needed. They are highly rated for their customer service and offer quick, same-day funding for approved invoices.

4. eCapital

eCapital is another top factoring company for trucking businesses, offering fast approvals and a wide range of services to meet the cash flow needs of the transportation industry. eCapital’s platform is designed for quick, easy invoice submission and management.

Key Features:

Advance Rate: Up to 95%
Fees: 1-3% per invoice, depending on volume and customer creditworthiness
Additional Services: Fuel cards, fuel advances, 24/7 access to funds, mobile app for invoice submission
Best For: Growing trucking companies that need fast, flexible funding with easy-to-use online tools

eCapital provides fuel advances and discounts that help trucking companies lower their fuel expenses, and their mobile app allows for convenient invoice submission and management on the go.

5. TAFS (TransAm Factoring)

TAFS specializes in factoring services for owner-operators and small to medium-sized trucking companies. With a strong focus on the trucking industry, TAFS offers competitive rates, fuel advances, and fuel cards that provide discounts at major truck stops.

Key Features:

Advance Rate: Up to 90%
Fees: 2-4% per invoice, depending on the customer’s credit profile
Additional Services: Fuel card discounts, fuel advances, mobile app for 24/7 account access
Best For: Small trucking companies and owner-operators seeking personalized, trucking-specific factoring solutions

TAFS is highly rated for its customer service and provides personalized factoring services tailored to the needs of small trucking businesses. They also offer fuel advances, which can be accessed before the invoice is even submitted, ensuring that truckers always have access to cash for fuel.

6. FleetOne Factoring

FleetOne Factoring offers a range of services designed to support trucking companies of all sizes. With competitive rates, fuel card discounts, and same-day funding, FleetOne is a trusted provider for trucking companies that need immediate access to working capital.

Key Features:

Advance Rate: Up to 90%
Fees: Competitive rates, depending on invoice volume and customer creditworthiness
Additional Services: Fuel card discounts, 24/7 access to accounts, quick funding options
Best For: Trucking companies looking for fast, reliable funding and fuel management services

FleetOne’s fuel card program is one of the most popular in the industry, providing discounts at truck stops across the country, making it easier for trucking companies to manage their fuel expenses while improving cash flow.

7. Apex Capital

Apex Capital is a leading factoring company for trucking businesses, offering comprehensive services such as factoring, fuel discounts, and free credit checks. Apex is known for its strong customer service and flexible terms, helping trucking companies manage their finances more effectively.

Key Features:

Advance Rate: Up to 95%
Fees: Transparent pricing, with competitive rates
Additional Services: Fuel cards, load boards, equipment financing, free credit checks
Best For: Trucking companies seeking full-service factoring with additional features like load boards and fuel discounts

Apex Capital’s fuel card program is a standout feature, offering discounts at major fuel stops. Their comprehensive platform also includes load boards to help trucking companies find new business opportunities.

How to Choose the Right Factoring Service for Your Trucking Company

When selecting a factoring company for your trucking business, it’s important to consider a few key factors:

1. Advance Rates and Fees

Look for a factoring company that offers a high advance rate—typically between 90-97%—and competitive fees. Compare rates and ensure there are no hidden fees such as administrative or early termination costs.

2. Fuel Discounts and Advances

Since fuel is one of the largest expenses for trucking companies, factoring providers that offer fuel cards or fuel advances can significantly help reduce costs. Consider how much you can save on fuel by using their fuel programs.

3. Flexibility

Some factoring companies require long-term contracts, while others offer spot factoring, which allows you to factor invoices on an as-needed basis. If you want more flexibility, choose a provider that offers short-term or no-contract options.

4. Customer Service and Support

Choose a factoring company with excellent customer service that understands the unique challenges of the trucking industry. Having a factoring partner that can offer 24/7 support and quick response times is essential for resolving issues promptly.

Conclusion

Factoring services are essential for trucking companies that need immediate cash flow to cover operational expenses and keep their fleets moving. The top factoring companies in the USA—such as Triumph Business Capital, RTS Financial, OTR Capital, and eCapital—offer competitive advance rates, fuel discounts, and additional services that cater specifically to the trucking industry.

By selecting the right factoring company for your trucking business, you can improve cash flow, reduce fuel costs, and focus on growing your business without the stress of waiting for customer payments. Whether you’re an owner-operator or a larger fleet, factoring can provide the working capital you need to succeed in the competitive trucking industry.