Invoice Factoring Providers

Invoice factoring allows you to receive immediate payment for freight invoices instead of waiting for brokers to pay—typically 30–60 days out. A factoring company advances you cash upfront and collects payment from the broker directly. The cost is the factoring fee, which covers the service and the credit risk involved.

How Factoring Fees Work

Factoring fees in the trucking industry typically range from 1.5% to 5% of invoice value, depending on the provider, the creditworthiness of the brokers you haul for, and your contract terms. Most owner-operators on flat-fee recourse plans (you take the credit risk if a broker fails to pay) land in the 2.5%–3.5% range. Non-recourse factoring, where the factoring company assumes the broker credit risk, usually costs about half a point (0.5%) higher than recourse.

The two main structures are:

• Recourse factoring: You guarantee payment. If a broker doesn’t pay the factoring company, you remain liable. This is cheaper but carries credit risk.
• Non-recourse factoring: The factoring company assumes the risk if the broker defaults. This is more expensive but removes that liability from you.

Bobtail

Bobtail (BBB profile confirmed, Silver Spring, MD) offers negotiable factoring rates with a maximum of 3.24%. They provide same-day payment at no extra charge and do not require long-term contracts—the first 90 days have no commitment. Bobtail includes a dedicated customer success team and lets you choose which brokers to factor (you aren’t forced to factor all loads). Bobtail also offers a fleet fuel card (see the Fuel Cards page for details).

Apex Capital

Apex Capital (Fort Worth, TX; operating since 1995) advertises “24/7/365 Factoring” with payment available in minutes after an invoice is purchased, and overnight funding through its blynk® digital payment system for qualifying clients. Apex states no long-term contract restrictions and no required minimum volume. Bundled extras include the Apex Fuel Card (advertised average savings of 59¢/gallon), a Fuel Finder tool and free fuel analysis, the NextLOAD load board for clients, a Mobile Factoring™ app, equipment financing, and roadside rescue. Apex’s site does not publish a specific factoring fee percentage or state whether recourse, non-recourse, or both are offered — confirm current rates directly.

RTS

RTS (RTS Financial) advertises same-day invoice payment for its factoring service and a fuel card program accepted at 4,000+ truck-stop locations nationwide with unspecified “Diesel Discounts.” RTS’s site does not publish a specific factoring fee percentage, recourse/non-recourse terms, contract length, or fuel card savings figures — confirm current rates directly.

Triumph

Triumph (Triumph Business Capital, part of Triumph Financial) advertises fast payment (“get paid in minutes”) and proprietary factoring software for tracking invoices. Triumph’s public site does not disclose specific factoring fee ranges, recourse/non-recourse terms, contract length, or bundled perks — confirm current rates directly.

OTR Solutions

OTR Solutions advertises “True Non-Recourse Factoring” with funds available “within seconds” of uploading an invoice, 24/7/365. The company reports processing over 22 million invoices and paying out more than $30 billion to over 225,000 companies. Bundled offerings include the OTR Fuel Card (described as offering fuel credit and discounts for all carriers) and OTR Clutch Business Banking, a banking product built for truckers. OTR’s site does not publish specific fee percentages, minimum invoice amounts, or contract terms — confirm current rates directly.

DAT

DAT offers factoring through Outgo, a DAT product, following its acquisition of Outgo, a payments and factoring provider for truckload carriers. Outgo advertises non-recourse factoring with no annual contracts, no reserves, and no monthly minimums or volume limits. DAT states invoices are approved within four hours, and the service is integrated into the DAT One load board — a load marked with a dollar sign indicates the broker is approved to be factored with Outgo. Automated invoicing and a fuel card are offered alongside it. DAT advertises “low, transparent rates (no hidden fees)” and a rate-match guarantee, but its factoring page does not publish a specific fee percentage — confirm current rates directly. DAT also appears on the Load Boards page.

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Next steps: Learn more about cash flow management in Factoring & Cash Flow and explore Factoring Basics.