Best factoring companies for trucking: compare published terms, not slogans

Red flags first

• Long contracts with exit fees. A year or more, with a large fee to leave early, locks you in when your needs change.
• Reserves held a long time. Money released weeks after the broker pays is money you earned but can't use.
• Fee stacking. A low rate plus transfer fees, application fees, credit check fees and minimum charges.
• Tiers that start early. A rate that rises after 15 days costs more when brokers pay in 30.
• Vague answers about recourse, chargebacks or how to leave.
• Pressure to sign today. A good offer survives a day of reading.

Scorecard builder

Set how much each criterion matters to you; the table re-sorts. Every entry comes from the company's own website, checked October 2026.

How we compared

We chose four factoring companies that serve trucking carriers and publish their programs online: RTS Financial (our partner), Apex Capital, OTR Solutions and Bobtail. For each, we read its own factoring and fuel card pages in October 2026 and recorded only what it states: funding speed, contract terms, recourse options and fuel card details. We didn't use review sites, rankings or claims we couldn't find on the company's own pages. Where a company doesn't publish something, the table says "not stated"; that means you should ask, not that the feature is missing.

No company publishes a factoring rate for carriers, so rate isn't in the scorecard. Get written quotes for that.

What each company publishes

• RTS Financial: advances more than 90 percent within 24 hours and same-day payment through its app; fuel cards with an average 45 cents per gallon saving at over 4,000 stations. Source Source
• Apex Capital: same-day and next-day funding, with overnight and weekend funding for qualifying clients; recourse and non-recourse options; a free fuel card. Source
• OTR Solutions: instant funding within seconds of upload, around the clock; true non-recourse factoring with no chargebacks even after 90 days; a fuel card bundled with factoring. Source
• Bobtail: same-day payment minus a low flat fee; no long-term contracts and a 90-day trial you can cancel without penalty; fuel savings for its cardholders. Source

Specialty experience

Specialty carriers should ask about their kind of invoice. Car haulers need a factor that understands condition reports and dealer customers. Heavy haul carriers need one that funds permit and escort pass-through lines. Oilfield carriers need one that works with field tickets and operator approval systems; RTS Financial, for example, publishes a separate oilfield factoring program. Ask each factor which of your customers it approves and how it handles your paperwork before comparing anything else. See car hauler factoring and oilfield factoring.

Clear fees

Ask for a full fee schedule: the factoring rate and how it changes over time, transfer fees, setup fees, minimum volume charges, fuel advance fees and termination fees. Then run a typical month through our factoring rates calculator. A company that won't put every fee in writing is telling you something.

Questions to ask every factor

1. What is the advance, and how fast does it arrive after I upload?
2. What is the fee, flat or tiered, and what else do you charge?
3. Recourse or non-recourse, and what exactly does non-recourse cover?
4. How long is the contract, what is the notice period, and is there a fee to leave?
5. Is there a monthly minimum?
6. Can I choose which invoices or customers to factor?
7. Which of my brokers and customers do you approve?
8. How long are reserves held?
9. What does your fuel card save at the stations I use?

Reading factoring company reviews

Reviews from other carriers can tell you how a factor behaves when something goes wrong: a slow advance, a chargeback, a dispute over a reserve. Read the recent ones, look for patterns rather than single complaints, and pay attention to how the company responds. Remember that unhappy customers write more reviews than satisfied ones, and that review sites can be gamed. We didn't use reviews in the scorecard because they can't be checked the way a company's own published terms can.

What good onboarding looks like

A well-run factor tells you exactly which documents it needs, checks your brokers before your first load, sends notices of assignment promptly, and funds the first invoice when it said it would. You should know who to call with a problem and get an answer the same day. If onboarding is slow or confusing, expect the same later. Treat the first month as a trial, even if the contract doesn't call it one.

When to shop again

Your first factoring agreement is rarely your last. Shop again when your volume has grown enough to earn a better rate, when your customer mix changes, such as more direct customers or more oilfield work, or when a renewal date approaches. Get two quotes on your current invoices, compare total monthly cost, and check what leaving your current factor would cost before you decide.

How to switch later

Switching factors is common and usually straightforward, though it takes planning. Read your current agreement for the notice period and any early termination fee. Open the new account before closing the old one. The old factor sends release letters to your brokers, and the new one sends its own notices of assignment. Open invoices are usually collected by the factor that funded them, and reserves are released as they are paid. Expect a short period where both are involved. This is a general overview, not legal advice; read your agreement and ask both factors how they handle the change.

Non-recourse, fuel and speed: trade-offs

Every strength has a cost. Non-recourse usually comes with a higher fee and stricter customer approval. Instant funding is convenient, but ask whether it costs extra. A fuel card helps only on lanes where its stations are. Short contracts can mean a slightly higher rate. Decide which trade-offs suit your business, set the weights in the scorecard to match, and then get written quotes from the top two or three. See non-recourse factoring and fuel cards and fuel advances.

Using the scorecard well

Start by setting the criteria you care about least to zero; it is often clearer than deciding what matters most. A carrier hauling only for large, well-rated brokers might set recourse to zero and contract flexibility high. A new carrier short on cash might push funding speed to the top. A long-haul carrier on Interstate lanes might weight the fuel card heavily. Then take the top two or three companies and ask each for a written quote on the same month of invoices. The scorecard narrows the field; the quotes decide, and the contract you actually sign is what counts.

New authorities and small fleets

A new authority should weigh contract flexibility and approval of the brokers that work with new MCs above a small difference in rate. A small fleet should weigh reporting, driver access to the app and fleet fuel controls. See factoring for new authorities and small fleet factoring.

Our partner, and your choice

We refer carriers who want factoring to RTS Financial, and we may be paid for referrals. That doesn't change its rate or terms, and it doesn't change the scorecard above, which uses the same rules for every company. Factoring is never required to dispatch with us, and you can use any factor you choose. See our disclosure, the full guide to freight factoring, or dispatch for owner-operators.