Best Factoring Companies

Freight factoring is a way to get paid in 24 to 48 hours instead of waiting 30 to 60 days for a broker or shipper to pay. You sell your invoices to a factoring company, and they advance you most of the amount, usually 85% to 95%, then collect from the customer and send you the rest minus a fee. The best factoring company for you depends on your volume, your customers’ credit, and how much hand holding you want. Here is a practical look at the top options in 2026, with real numbers and steps you can take this week.

How to Compare Factoring Companies

Before you pick, know what you are paying. Most factors charge a percentage of the invoice, typically 1% to 5% for the first 30 days, then 1% per 10 days after that. Some have flat rates, others have tiered rates based on volume. Also check for hidden fees: application, setup, monthly minimum, and termination. Ask for a sample contract and read it.

Key factors to compare:

• Advance rate: how much you get upfront (85% to 95%)
• Factoring fee: the percentage charged (1% to 5%)
• Recourse vs. non-recourse: who eats it if the customer doesn’t pay
• Fuel advance: can you get cash for fuel immediately?
• Customer credit limits: are they enough for your loads?
• Online portal and mobile app: how easy is it to submit invoices and track payments?
• Customer service: do they answer the phone?

Top Factoring Companies for 2026

Here are six companies that consistently rank high for trucking. Prices are estimates based on current market rates; your exact quote depends on your volume and credit.

1. Triumph Business Capital

Triumph is one of the largest factors for small fleets. They offer a 95% advance rate and fees starting around 1.5% for the first 30 days. They have a fuel card program that gives you a discount at the pump. Their online portal is solid, and they have 24/7 customer service. Minimum volume is low, so they work for owner-operators.

2. RTS Financial

RTS is known for fast funding, often same day if you submit early. Their advance rate is up to 95%, and fees start around 1.5% to 2%. They have a mobile app that lets you submit invoices from your phone. They also offer fuel advances and a fuel card. RTS has a reputation for good customer service and flexible terms.

3. OTR Capital

OTR Capital specializes in small fleets and owner-operators. They offer a 95% advance rate and fees starting at 1.5%. They have no monthly minimums, which is great if you have slow weeks. Their portal is straightforward, and they have a fuel advance program. They also offer non-recourse factoring for an extra fee, which protects you if a customer goes bankrupt.

4. Factor Finders

Factor Finders has been around since 1999 and works with small trucking companies. They offer a 90% to 95% advance rate and fees from 1% to 3%. They are known for low minimums and flexible contracts. Their customer service is personal, and they offer fuel advances. They also have a mobile app for submitting invoices.

5. TBS Factoring

TBS is a large player with a strong focus on trucking. They offer a 90% advance rate and fees starting at 1.5%. They have a fuel card that gives you discounts, and they offer same-day funding on approved invoices. Their online platform is user friendly, and they have a dedicated account manager. They also offer load tracking and back-office support.

6. Apex Capital

Apex Capital has been in business since 1995 and specializes in freight factoring. They offer a 90% to 95% advance rate and fees starting at 1.5%. They have a fuel card program and a mobile app. They also offer non-recourse options. Apex is known for transparent pricing and no hidden fees.

Comparison Table

Company	Advance Rate	Fee Range	Fuel Advance	Mobile App	Non-Recourse
Triumph	95%	1.5%-3%	Yes	Yes	Yes (extra)
RTS	95%	1.5%-2%	Yes	Yes	Yes (extra)
OTR	95%	1.5%-2.5%	Yes	Yes	Yes (extra)
Factor Finders	90%-95%	1%-3%	Yes	Yes	Yes (extra)
TBS	90%	1.5%-2.5%	Yes	Yes	Yes (extra)
Apex	90%-95%	1.5%-2.5%	Yes	Yes	Yes (extra)

Note: Fees are per 30 days. Some companies charge a higher fee for non-recourse, typically 0.5% to 1% more.

How to Choose the Right One for You

Start by listing your monthly invoice volume. If you factor $10,000 a month, a 1% difference in fees is $100. If you factor $100,000, it’s $1,000. That matters.

Next, check your customers’ credit. If you haul for small brokers with shaky credit, you might need non-recourse, but it costs more. If you haul for large shippers like Walmart or Procter & Gamble, recourse is fine because they pay.

Then, think about speed. Do you need same-day funding? Some companies offer it for an extra fee, usually 0.5% to 1% of the invoice. Others are free but take 24 hours.

Finally, read the contract. Look for termination fees, which can be $500 to $1,000 if you leave early. Also check for monthly minimums, which can be $500 to $1,000 in fees even if you don’t factor that much.

Practical Steps to Get Started This Week

1. Gather your last 3 months of invoices and your customers’ names and contact info.
2. Request quotes from 3 to 4 companies from the list above. Use their online forms or call. Ask for a sample contract.
3. Compare the quotes side by side, including all fees, not just the rate.
4. Check references by asking for current customers you can call.
5. Start small with one invoice to test the process before committing to a long-term contract.

FAQ

What is the average factoring fee for trucking?

Most trucking factors charge 1% to 5% of the invoice value for the first 30 days. The average is around 2% to 3% for small fleets. Fees drop with higher volume.

How fast can I get funded?

Most factors fund within 24 hours of invoice submission. Some offer same-day funding for an extra fee, usually 0.5% to 1% of the invoice.

Is factoring the same as a loan?

No. Factoring is selling your invoices at a discount. You don’t take on debt, and you don’t have to make monthly payments. The factor collects from your customer.

Can I factor if I have bad credit?

Yes. Factoring is based on your customers’ credit, not yours. Your personal credit score matters less, but some factors check it. If your customers have good credit, you can factor even with a low score.

The bottom line

The best factoring company for you is the one that offers the lowest total cost for your volume and provides the features you need. Triumph, RTS, OTR, Factor Finders, TBS, and Apex are all solid choices. Get quotes from at least three, read the contracts carefully, and start with a small test. That way you know exactly what you are getting before you sign a long-term deal.