As a truck dispatcher, my goal is to keep your wheels turning and your revenue flowing. But I know that booking the load is only half the battle—getting paid on time is what keeps your business alive.
Cash flow is king in this industry. Whether you are an owner-operator or managing a fleet, choosing the right factoring partner can be the difference between surviving and thriving. To help you navigate the options, I have gathered a list of the most reputable factoring companies currently serving the market.
Please Note: This list is based on general market information. Factoring contracts are highly carrier-dependent. Your specific rate, terms, and experience may vary based on your authority age, fleet size, and credit history.
1. OTR Solutions
OTR Solutions (formerly OTR Capital) is widely recognized in the industry for its transparency and customer support. They have built a reputation for being very "driver-friendly."
The Advantage: Their standout feature is their "True Non-Recourse" program. Unlike standard non-recourse programs that have fine print regarding when they cover a loss, OTR’s program is comprehensive, covering you if a broker goes out of business or simply fails to pay due to credit insolvency. They also offer a fantastic mobile app and no hidden fees.
2. Outgo
Outgo is a modern disruptor in the factoring space. They operate more like an all-in-one banking solution for carriers than a traditional lender.
The Advantage: Flexibility and Speed. Outgo is famous for having no long-term contracts, meaning you aren't locked in for a year. Their unique model allows you to save money on factoring fees if you spend your funds directly via the Outgo card. It is an excellent choice for tech-savvy carriers looking to minimize fees.
3. Love’s Financial
Backed by the massive Love’s Travel Stops network, this division offers financial stability and significant perks for drivers who already frequent their locations.
The Advantage: Bundled Savings. If you fuel at Love’s, this is a top contender. They offer high advance rates (often up to 99%) and bundling your factoring with them unlocks higher tier status on their loyalty cards, leading to massive discounts on fuel, tires, and maintenance.
4. Apex Capital
Apex is a veteran in the industry with decades of experience. They are known for their full-service approach, helping carriers not just with cash flow but with business management.
The Advantage: The "Startup" Friend. Apex is excellent for new authorities. They provide a wealth of free resources, including a startup program, free credit checks, and a very strong fuel card program. Their 24/7 factoring availability ensures you can get funded even on weekends and holidays.
5. RTS Financial
RTS is a heavyweight in the trucking finance world. They are often the go-to for carriers who want aggressive fuel discounts alongside their funding.
The Advantage: The Fuel Network. RTS has an exclusive partnership with Pilot Flying J. By factoring with them, you gain access to one of the most aggressive fuel discount programs in the nation. If your routes take you through Pilot/Flying J locations often, the fuel savings alone can sometimes offset the factoring fees.
6. Triumph
Formerly known as Triumph Business Capital, they are a part of a larger banking institution, which gives them the ability to offer a broader range of financial products.
The Advantage: Scalability. Triumph is great for carriers who plan to grow into large fleets. Beyond factoring, they offer equipment financing and insurance solutions. Their "MyTriumph" web portal is robust, giving you detailed analytics on your business performance.
7. eCapital
eCapital is known for its speed and its willingness to work with a wide variety of industries, giving them deep pockets and reliable funding.
The Advantage: Cash Availability. eCapital is focused on getting you paid fast, often offering a Visa Commercial card that allows you to access your funds instantly after an invoice is processed, rather than waiting for bank transfers. They also have excellent back-office support to handle billing and collections for you.
How to Choose? (A Dispatcher’s Advice)
Most factoring companies perform the same core function: they buy your invoice for a fee so you get paid today. However, the "fine print" is where your experience will differ.
When you are on the phone with sales representatives from these companies, do not just ask about the rate. Consider these critical factors before signing:
Recourse vs. Non-Recourse: Recourse means if the broker doesn't pay, you have to pay the factoring company back. Non-recourse means the factoring company takes the risk (usually for a slightly higher fee).
Minimum Volume: Do they require you to factor a certain amount of money per month? (Avoid this if you take time off).
Contract Period: Are you locked in for 12 months, or is it month-to-month?
Fuel Programs: How much can you save on diesel by using their card?
Broker Approvals: Do they work with the brokers you like to haul for?
User Interface: Is their app easy to use for uploading rate cons and BOLs?