Long contracts with auto-renewal
Easy to sign, hard to leave, and renewing without you noticing.
Best factoring companies, compared on your terms
Any list of the best factoring companies is somebody's opinion. Here you set the weights: how much you care about rate, contract, speed, fuel cards and advance. The table re-sorts using published terms from a dated third-party review. We refer carriers to a factoring partner and may be paid for referrals.
Monthly invoices
Get my factoring quoteWe refer carriers to a factoring partner and may be paid for referrals.
MILE02SCORECARD BUILDER
Weight what matters to you
Slide each criterion from 0 (don't care) to 3 (matters most). Companies without published terms score in the middle on that item rather than being guessed.
| Company | Published rate | Advance | Contract | Funding | Fuel card | Fit |
|---|---|---|---|---|---|---|
| Transportation Management Group | 0.65%+ | Up to 100% | 30-day | Same day | Yes | 100 |
| Scale Funding | 1%+ by volume | 95% | None required | Immediate | Not stated | 92 |
| AltLINE | 0.90%+ | Up to 100% | Short-term | Same day | Not stated | 86 |
| Apex Capital | Not published | Not stated | None required | Minutes to same day | Not stated | 81 |
| TruckSmarter | 2.5%+ | Not stated | Can be ended | 24 hours | Yes | 65 |
| RTS Financial | Not published | Not stated | Not stated | 24 hours | Yes | 65 |
| TAFS | Not published | Not stated | Not stated | About 1 hour | Not stated | 65 |
Source: NerdWallet, best factoring companies for trucking (Apr 30, 2026). Terms change and quotes vary by carrier; get every term in writing. Our partner is not included in this table.
MILE03WHAT EACH CRITERION MEANS
What each criterion really means
- Published rate. A starting point, not your price. Starting rates usually go to high-volume carriers with strong brokers. A new single-truck authority will often be quoted higher.
- Advance. How much arrives on day one. A higher advance is nice, but the total you receive after fees matters more.
- Contract. How easily you can leave. For small carriers and seasonal work, short or no terms are worth a lot.
- Funding speed. How fast the advance lands after clean paperwork. Same-day often costs extra; next business day is often free.
- Fuel card. Discounts only matter at stations on your lanes. Check the network before you count the savings.
MILE04WHERE OUR PARTNER FITS
Where our factoring partner fits
We refer carriers who ask for a factoring quote to one factoring partner, and we may be paid for that referral. It doesn't change the dispatch fee, and you don't need to factor, or factor with our partner, to use our dispatch.
Our partner tends to suit carriers who want one place for dispatch and factoring paperwork, and it may not suit a carrier who already has a factor they're happy with, or one who wants to shop every quote themselves. If a company in the table above fits you better, use it.
MILE05HOW WE COMPARED
How this comparison works
- Published terms only. Rates, advances, contracts, speed and fuel cards as reported in the review we cite, with its date.
- No guessing. Where a company doesn't publish a term, the table says so instead of estimating.
- Your weights, your order. The ranking changes with what you care about. There's no fixed winner.
- Checked date. Data as of the review date shown. Factoring terms change; always confirm in writing.
MILE06RED FLAGS
Red flags in any factor
Reserves held long
Your money sitting with the factor for weeks after the broker pays.
Fee stacking
A low headline rate plus transfer, invoice, same-day and monthly fees.
Monthly minimums
Charges when you factor less than a set amount, often in slow months.
Vague recourse terms
Unclear when and how unpaid invoices come back to you.
Pressure to sign today
A good factor's offer will still be there after you read the agreement.
MILE07HOW TO SWITCH LATER
Switching factors later
- 01Read the termination clause. Notice period, fees and how open invoices are handled.
- 02Line up the new factor. Approval and agreement ready before you give notice.
- 03Give notice in writing. On the date your agreement requires.
- 04Release and new NOA. The old factor releases your brokers; the new one sends its notice of assignment.
- 05Settle open invoices. Under the old agreement until they're paid.
This is a general outline, not legal advice. Your agreement's terms decide the details.
MILE08BEFORE YOU PICK
Three quotes, one comparison
Take your top three from the scorecard and ask each for a written quote using the same example: your typical invoice size, your monthly volume and your main brokers. Put them side by side and compare what you'd receive on that invoice after every fee, plus the terms you can't put a number on: contract length, minimums and recourse.
Our factoring rates page shows how to read a quote line by line, and non-recourse factoring explains what that protection really covers. Hotshot owners should also read hotshot factoring.
MILE09DISPATCH
Loads first, then factoring
Whichever factor you choose, it can only pay you for loads you've hauled. Our dispatch desk finds and negotiates them, checks every broker, and brings each one to you to approve. The rate con comes straight to you. Start dispatch or read the freight factoring overview.
MILE10FAQ
Choosing a factor: FAQ
Q01Which factoring companies work with hotshots?
Most factors that work with trucking accept hotshot carriers with their own authority. What differs is how they handle small invoices: per-invoice fees and minimums matter more for hotshots. Ask about both before signing.
Q02Are factoring reviews reliable?
Use them carefully. Online reviews skew toward very happy and very unhappy customers, and some review sites are paid by the companies they rank. Published terms, a written quote and the agreement itself are more reliable than star ratings.
Q03Which factoring company is best for trucking?
There isn't one best for everyone. A one-truck hotshot, a new authority and a 20-truck fleet need different things. Weight the criteria that matter to you in the scorecard above, then get written quotes from the top few.
Q04Which factoring companies have no long contracts?
Several advertise no required contract or short terms, according to their published materials and third-party reviews. Confirm the term, notice period and any termination fee in the actual agreement before you sign.
Q05What should I look for in a factoring company?
A clear fee schedule, an advance and reserve you understand, a short or no-term contract, no monthly minimums, fast funding, broker credit checks, mobile uploads, and support you can reach when a payment is stuck.
Q06Why don't you rank your own partner first?
Because that wouldn't be a fair comparison. We refer carriers to one factoring partner and may be paid for referrals, so we keep it out of the ranked table and tell you exactly where it fits instead.
Q07Do factoring companies charge to switch?
Some charge an early termination fee if you leave before the term ends, and some don't. Read the termination clause before signing, so switching later doesn't come with a surprise bill.
Q08Should I pick the lowest published rate?
Not on its own. Published rates are starting points, and extra fees, reserves and contract terms change the real cost. Compare written quotes on the same example invoice.
Q09Do factors work with new authorities?
Many do, because the brokers' credit carries most of the risk. Some prefer established carriers or charge new ones more. Our page on factoring for new authorities covers what they ask a new MC.
Q10Is a bigger factoring company better?
Not necessarily. Size can mean more fuel card options and weekend funding; smaller factors can mean more personal support. Compare the terms and how quickly you can reach someone when a payment is stuck.
Get my factoring quote
We refer carriers to a factoring partner and may be paid for referrals.