The 6 Best Factoring Companies For Trucking 2024

Best Overall

Apex Capital Corp

Apex Capital Corp


Best Full Service Factoring Company

Riviera Finance

Riviera Finance


Best Factoring Rates


BlueVine/ FundThrough


Best Factoring Alternative



Best Factoring Companies For Trucking

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When you need cash to fuel your rig or to cover expenses, freight factoring provides quick access through selling your unpaid invoices. It’s a resource that could save you time on collections and speed up your cash flow. 

We’ve done the research on the best trucking factoring companies so you can sign with one that fits your business’s needs and have faster access to your money. 

The Best Freight Factoring Companies

Best Freight Factoring Companies Compared

Brand nameFunding SpeedFunding AmountsPercentage FactoredCustomer Service RatingFactoring Rates
Bluevine/ FundThrough24 hours after approvalUp to $10 millionUp to 100%4.3 on Trustpilot
A+ with BBB
2.5% monthly rate
0.5% weekly rate
LendioAs soon as 24 hoursNot disclosedUp to 90%4.8 on Trustpilot
A+ on BBB
As low as 3%
FundboxSame day or next day$100 to $150,000100%4.7 on Trustpilot
A+ on BBB
4.66%  for 12 weeks8.99% for 24 weeks
Riviera FinanceWithin 24 hours of approvalUp to $2 millionUp to 95%4.8 on Google ReviewsMust contact a representative.Some reports of rates as low as 2% 
Apex Capital CorpWithin minutes with BlynkContact company for more infoContact company for more info4.93 and A+ on BBBFlat rate as low as 2% per week 
TAFSWithin one hourContact company for more infoContact company for more info3.1 on Google Reviews
1.43 on BBB
Must contact a representative.


BlueVine is relatively new in the freight factoring arena, but they’ve been acquired by FundThrough, which opened in 2014. FundThrough is an invoice factoring company that assists a variety of industries with improving their cash flow by buying unpaid invoices.

BlueVine and FundThrough don’t cater specifically to freight factoring, but they’re still familiar with invoice factoring for the trucking industry. Together, they offer a great invoice factoring deal: 

  • You’re not locked into factoring everything 
  • Choose the net 30 accounts you want 
  • Rates are reasonable
  • Fees are very transparent
  • Funding within 24 hours of approval
  • Integrates with Quickbooks and other accounting software for easy access. 
  • Non-recourse factoring
  • Funds up to 100% of face value

After signing up for your account, you’ll choose which invoices you want to factor in. They’ll only accept invoices that are at least 90 days old. Within 24 hours of approving your invoices, you’ll have cash available to your trucking business. 

With BlueVine/FundThrough you have two different invoice factoring options. Both are non-recourse. Choose between Velocity invoice factoring which provides funding of up to $10 million or Express invoice factoring which ranges from $500 to $15,000. 

Velocity has a 2.5% monthly factoring fee and Express has a 0.5% weekly fee under a 12-week repayment plan. 


Lendio is a fintech company that allows you to compare accounts receivable factoring offers from over 75 different invoice factoring companies. You’ll only have to fill out one application to get multiple offers and you can receive your cash in as little as 24 hours. 

While Lendio doesn’t specialize in freight factoring, they’ve worked in the invoice factoring space since 2011. They use their connections with a multitude of lenders and factoring companies to get you the best truck factoring offers.  

Other trucking companies are very pleased with their results as they have a 4.8 on Trustpilot and an A+ from the BBB. As a plus, there’s no application fee when you check eligibility with them and there’s no hard credit check. 


Fundbox isn’t exactly a factoring service, they’re a lender. They don’t buy your invoices, they lend you money based on the face value of your invoices. That makes them similar to a non-recourse factor. 

If you’re just starting out and don’t need a truck factoring company to handle collections on your invoices then Fundbox can help improve your cash flow and get your expenses paid. Their customer service is highly rated with a 4.7/5 on TrustPilot and an A+ rating from the BBB. 

Since Fundbox doesn’t technically factor your invoices, they can offer up to a 100% advance on amounts from $100 to $150,000 in financing. You get to choose which invoices you want to finance and leave out the invoices you don’t. 

Their rates are reasonable too. Repaying within 12 weeks gets you rates as low as 4.66%. Repaying within 24 weeks comes with interest rates as low as 8.99%. 

Unlike freight factoring which depends more on your customer’s credit score than yours, Fundbox might be out of reach if you have bad credit.You’ll need to have at least a 600 personal FICO score along with $100,000 in annual revenue and six months in business to qualify.

Another drawback to using this service is the potential for increased fees based on your customer’s creditworthiness. That means you’ll need to run your own credit checks on brokers and suppliers or pay additional fees. 

Riviera Finance

Riviera Finance is an invoice factoring company that’s been around since 1969. They provide non-recourse invoice factoring which means you’re protected from potential bad debts while improving your cash flow. 

They’re a full-service factoring company, so they’ll manage the entire invoice payments process for you. View every detail of the process from their online account management system. 

They take it a step further than most by guaranteeing the credit for your invoice even if your customer goes bankrupt. So they’ll do your freight factoring without putting you in debt. 

Once Riviera accepts your net 30 invoices, you’ll receive cash within 24 hours. They offer up to $2 million in non-recourse factoring and have advance rates at 95% of your invoice face value. If you’d like to look into net 60 invoices, check out our article on Net 60 Accounts for more information.

The trucking companies that have used Riviera Finance have great things to say about them as well. On Google Reviews they have a 4.8 average. 

The only toss-up about Riviera Finance is that you’ll have to talk to one of their account representatives for their qualification requirements. You’d have to do this with several other companies too, but this could be a good thing. 

Rather than signing up online and later finding out it isn’t a good fit, you can set aside time to ask the representative all your pressing questions before moving forward. 

You can do it fairly easily too. They have 25+ locations with local staff running their accounts receivables throughout the US and Canada. That’s rare. This freight factoring service definitely gets bonus points for that. 

Apex Capital Corp

Apex Capital Corp is one of the older freight factoring companies in the industry with over 25 years in the business. They have an excellent rating on the Better Business Bureau with a 4.93 out of five and an overall A+ rating. 

They work with a wide range of carriers including one-person owner-operators and they specialize in small to midsize trucking. 

With a stunning 4.8 on Google reviews, many long-term customers praise them for their helpfulness, speed, and their easy-to-use app. Working with Apex has a few clear benefits including–

  • Funding in minutes with Blynk payment service. Otherwise, it’s the same day or the next day. 
  • They’re available when you are. They offer factoring on nights, weekends, and holidays
  • Get paid by debit, Zelle, or ACH transfer
  • Fuel discount card
  • Roadside assistance
  • Mobile factoring app with image capture
  • Free customer credit checks
  • Other financing options

With Apex, you also get the added benefit of choosing between recourse and non-recourse factoring. The non-recourse option comes at a higher cost than recourse factoring, but being able to choose is a plus. 

Although Apex hasn’t publicly shared its qualification requirements, there are no minimum credit scores to meet and no minimum time in business requirements. 

The disadvantage of using Apex is that you’ll have to factor all of your invoices with them–not just the ones that have gone unpaid for a while. To become more knowledgeable about financing, check out our article on Debt vs Equity Financing for more information.

So even if it makes sense not to factor certain invoices, you’ll still have to pay the percentage on them if you choose Apex. 


TAFS is short for Trans Am Financial Services. This recourse-only factoring company is laser-focused on providing some of the fastest funding in the industry. During the week, you can get your money in as little as one hour

Their lightning-fast funding speeds are supported by their mobile app and client portal where truckers can upload invoices with ease. In addition to online account management, there are several other benefits that TAFS offers, including–

  • Free credit checks
  • Fuel and maintenance discounts
  • No minimums
  • Open 365 days a year
  • No set-up fees, aging fees, application fees, or per invoice fees

If your priority is to get fast money, TAFS might be a top contender. However, you may have to compromise by accepting some big downsides. 

TAFS is a recourse-only freight factoring company which means you’re on the hook for the advance money if your customer doesn’t pay the invoice. Not the best situation to be in.

We can’t give our honest take without confronting the multitude of negative reviews for TAFS on Google reviews, BBB, and Birdeye. According to a vast majority of customers, it’s beyond difficult to cancel your contract with them. 

Didn’t cancel within the specified period? You may have to buy out the contract at a fee that’s reportedly in the thousands. Another common theme in negative reviews is a lack of communication around resolving issues. 

TAFS might be great for fast cash, but you’ll likely have to sacrifice customer service and potentially deal with chargebacks. 

How We Shortlisted These Companies

These days, almost any trustworthy factoring company can get cash to you within 24 hours or less. While it might come in handy sometimes, that’s not the only part we care about when shortlisting these companies.

If we’re putting each of these on the list as a “best freight factoring company”, you should know what criteria we’re basing our list on. Here are some of the factors we used to narrow down the best factoring companies: 

  • Ease of use. Factoring shouldn’t be overcomplicated. The point is to get your money faster than the client is paying the invoice. 
  • Trustworthiness. The factoring companies we chose know what they’re doing when it comes to invoice factoring. We’ve checked reviews to make sure these factoring companies are trusted by others who’ve used them. 
  • Reasonable rates. Some companies take a larger percentage than others which cuts into your bottom line. If a company on this list has a higher rate, we make sure there are other benefits that balance it out. 
  • Customer service. Even with the best factoring company, things can go wrong. When they do, you’ll want customer service that’s responsive, helpful, and kind. 
  • Factoring percentage. Because you need as much of that invoice as possible to cover your operating expenses. 


Is Factoring Good for Trucking?

Factoring can be very good for a trucking company. When you don’t have the resources to hire an accounts receivable team, some factoring services offer full-service invoice factoring where they’ll manage customer invoices for you. 

This changes the game around collecting your unpaid invoices. You’ll get cash quickly to keep your trucking company running and forfeit a small portion of your overdue invoices as payment. 

What makes it a potentially risky move for trucking companies is the possibility of hidden fees and chargebacks that can put you into debt. Before signing any contracts, it’s important to get a detailed look at the fee structure.

What Is a Good Factoring Rate in Trucking?

A good factoring rate in trucking is about 2% or less. You may find rates lower or higher than that depending on the credit rating of the freight broker or supplier your invoice is under.

How Do I Choose a Trucking Factoring Company?

When choosing a trucking factoring company, you have to consider several aspects of each one.

• Customer service rating
• Speed of funding
• The fee structure
• Ease of use
• The type of factoring (recourse or non-recourse)
• Weekly or monthly rate

The way you prioritize these elements depends on the specifics behind your trucking company. If you need a fast turnaround on your money, you’ll want to prioritize a company with quick funding times. 

If you need a full-service factoring company, you may want to prioritize customer service since they’ll be contacting your valued customers on your behalf.

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