How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- Advance rates, funding speed, and fuel savings matter more together than any single advertised fee, because transfer fees, reserves, and aging charges change the real cost.
- Non-recourse factoring can protect a carrier if a broker fails to pay, but coverage has eligibility limits and exclusions that must be checked in the contract.
- RTS Financial, Triumph Business Capital, and Apex Capital suit carriers who want deep trucking experience, while OTR Solutions and eCapital suit carriers who prefer app-led tools.
- TAFS, Riviera Finance, and Thunder Funding offer useful alternatives for newer carriers, smaller fleets, and carriers who want back-office support alongside funding.
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
 RTS Financial | Fuel savings and same-day funding | See website | No |
 Triumph Business Capital | Trucking-only factoring and fuel advances | See website | No |
 Apex Capital | Established fleets and fast funding | See website | No |
 OTR Solutions | App-led factoring with non-recourse cover | See website | No |
 TAFS | Newer carriers and business support | See website | No |
 eCapital | Fleets wanting factoring plus fleet tools | See website | No |
 Riviera Finance | Non-recourse factoring for carriers | See website | No |
 Thunder Funding | Small carriers wanting simple terms | See website | No |
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The best factoring companies for carriers
Starting priceSee website
Free planNo
RTS Financial, part of Shamrock Trading Corporation, has served trucking businesses for more than 25 years. Its pitch combines factoring with a fuel card program and the RTS Pro app, which lets carriers upload invoices, track funding, and manage accounts from the road. Same-day funding on approved invoices is a central claim, and for a carrier running tight margins, that timing can matter as much as the fee percentage.
The weakness is transparency. RTS does not publish its factoring rates or advance rates online, so a carrier cannot compare its quote with a rival without applying. Fuel savings also depend on where you fill up and how the card fees work, so the headline discount may not match every route. RTS fits best for carriers who run regular routes, value fuel savings, and want an established factor with app tools, provided they obtain a written quote covering rate, reserve, and fees.
What we like- Same-day funding on approved invoices
- Fuel card discounts at a large station network
- Mobile app for invoice uploads and account tracking
Watch out for- Rates and advance rates are not published online
- Fuel card terms and fees need careful checking
- Contract terms, including reserves, must be confirmed before signing
Starting priceSee website
Free planNo
Triumph Business Capital focuses exclusively on trucking, which gives it a clear edge for carriers who want a factor that understands broker credit, load paperwork, and seasonal swings. It offers recourse and non-recourse factoring, fuel advances, and a portal for managing invoices and payments. Carriers can often choose which invoices to factor, which helps when cash flow is uneven and only some loads need early payment.
The catch is contract detail. Rates depend on volume and broker quality, and early termination fees can apply, so a carrier who signs quickly may face a cost to leave later. Funding cutoffs, transfer fees, and recourse wording also need checking. Triumph fits best for owner-operators and fleets who want a trucking-only specialist and who will read the termination and recourse clauses before committing.
What we like- Focus only on trucking and freight, with deep industry knowledge
- Recourse and non-recourse options
- Fuel advances and a carrier portal for paperwork
Watch out for- Rates vary by volume, broker credit, and contract type
- Early termination terms apply in some contracts
- Pricing is quoted, not fully published online
Starting priceSee website
Free planNo
Apex Capital, founded in 1995, is one of the longest-running freight factors, and it now sits within the Triumph network. Its service covers recourse and non-recourse factoring, with funding that can arrive within hours for approved invoices. Fuel discounts and a dedicated account team add practical value for fleets that run many loads each week and need consistent support.
The honest weakness is variability. Published rate summaries differ across sources, so a carrier should not rely on a single third-party figure. Account experience can also depend on the representative assigned. Apex fits best for established fleets that want fast funding and fuel savings from a long-running factor, provided they confirm rate, reserve, and contract length in writing.
What we like- Long history in transportation factoring since 1995
- Fast funding, often within hours on approved invoices
- Fuel discounts and dedicated account support
Watch out for- Rates are quoted rather than published in full
- Service quality can vary by account representative
- Contract length and reserve terms need written confirmation
Starting priceSee website
Free planNo
OTR Solutions, formerly OTR Capital and founded in 2011, targets tech-minded carriers with a clean app, a client portal, and broker credit checks built into the workflow. Non-recourse protection on many plans is a strong point, because it can shield a carrier when an approved broker fails to pay, subject to eligibility rules. That combination suits owner-operators who book loads from a phone and want to see funding status quickly.
The catch is cost detail. Rates vary, fuel card fees can eat into discounts, and funding times are not always same-day for newer accounts. Non-recourse cover also has carve-outs that are easy to miss in a summary. OTR fits best for carriers who value app tools and bundled non-recourse cover, and who will check fuel fees, funding cutoffs, and non-recourse exclusions before signing.
What we like- Non-recourse protection included on many plans
- Modern app and client portal for invoice tracking
- Broker credit checks to help carriers choose loads
Watch out for- Rates are quoted and vary by volume and broker
- Fuel card transaction fees can reduce savings
- Service consistency has drawn mixed feedback in public reviews
Starting priceSee website
Free planNo
TAFS, short for TransAm Financial Services, has long served trucking companies with factoring and related business support. That wider service matters for a newer carrier who needs help with paperwork, compliance, and cash flow at the same time, rather than funding alone. Invoice advances give that carrier cash sooner, while the support team helps with the administrative side of running a small fleet.
The weakness is price clarity. As with most factors, the rate depends on volume, broker credit, and contract terms, and a full comparison requires a written quote. A carrier focused only on the lowest fee may find a leaner factor cheaper, while a carrier who needs support may value TAFS more. TAFS fits best for newer carriers and small fleets that want factoring plus practical business help.
What we like- Factoring plus business services for trucking firms
- Support for newer carriers building a client base
- Invoice advances with back-office help
Watch out for- Rates and advance terms are quoted, not fully published
- Service breadth can mean less focus on the lowest fee
- Contract and fee detail must be confirmed in writing
Starting priceSee website
Free planNo
eCapital offers freight factoring with a wider package that includes credit checks, mobile tools, and optional fuel benefits. It has separate routes for owner-operators and larger fleets, which helps a growing carrier move from a simple plan to a more complete setup without changing provider. Both recourse and non-recourse structures are available, so a carrier can weigh protection against price.
The honest catch is bundle risk. A package that looks convenient can cost more than factoring alone if the carrier does not use every part of it. Funding speed claims also need checking against cutoff times and transfer fees. eCapital fits best for fleets that want factoring plus tools in one place and who will compare the bundled price against a factoring-only quote.
What we like- Recourse and non-recourse factoring options
- Separate paths for owner-operators and fleets
- Mobile tools, credit checks, and optional fuel benefits
Watch out for- Fastest funding claims may involve extra transfer costs
- Bundle terms need checking
- Rates depend on volume and broker mix
Starting priceSee website
Free planNo
Riviera Finance is often cited for non-recourse factoring, which appeals to carriers who worry about broker non-payment. By taking on approved credit risk, a non-recourse factor can give a carrier more confidence to accept loads from newer brokers, provided those brokers pass the factor's credit checks. Riviera also serves industries beyond trucking, which gives it scale, though it means less trucking-only specialization than some peers.
The weakness is that non-recourse is not blanket protection. Coverage applies to approved invoices and approved debtors, and exclusions, disputes, and documentation errors can still leave a carrier exposed. Rates are also quoted, so comparison requires a written offer. Riviera fits best for carriers who rank broker-risk protection high and who will confirm exactly which invoices and brokers are covered.
What we like- Non-recourse factoring as a core strength
- Experience across trucking and other industries
- Flexible funding for carriers with varied broker mixes
Watch out for- Rates are quoted on application
- Non-recourse cover still has eligibility limits
- Less trucking-only focus than Triumph or Apex
Starting priceSee website
Free planNo
Thunder Funding is a smaller, carrier-focused factor that stresses same-day advances and personal support. For a small carrier, that direct contact can matter more than a large app suite, especially when an invoice problem needs a quick answer. Simple terms and a clear funding process help a carrier who wants to understand the deal without wading through a large bundle of extras.
The trade-off is scale. Thunder Funding does not offer the same breadth of fuel networks, fleet tools, or back-office services as larger factors. Rates are quoted, so a small carrier should still compare at least two written offers. Thunder fits best for small carriers and owner-operators who want straightforward funding and personal service, and who do not need a large fleet platform.
What we like- Same-day advances on submitted invoices
- Simple, carrier-focused service model
- Personal support for small carriers and owner-operators
Watch out for- Smaller scale than RTS, Triumph, or Apex
- Rates and advance terms are quoted
- Fuel and back-office extras are less extensive than larger rivals
How to compare factoring quotes fairly
Ask every factor for a quote on the same invoice value, the same broker mix, and the same payment timeline. That simple step makes rate comparisons meaningful. Then add every extra charge: transfer fees, wire fees, monthly minimums, aging fees when an invoice goes unpaid past a set period, and any fuel card fees. A low factor rate with high extras can cost more than a higher rate with no extras.
Understand recourse, reserves, and termination
Recourse means the carrier must repay the advance if the broker does not pay. Non-recourse means the factor takes approved credit risk, with exclusions. A reserve is the percentage held back until the broker pays, and it affects how much cash you receive up front. Termination terms set how long you must stay and what it costs to leave. Read all three sections before signing, and ask for examples based on your own invoices.
Check funding speed and broker credit tools
Same-day funding usually has a cutoff time, and invoices submitted after it may fund the next business day. Broker credit checks help you avoid loads from weak payers, but they are only useful if you check them before booking. Ask how credit checks work, whether they cost extra, and what happens if a broker you already work with fails a check.
How we chose
We compared company websites, public service descriptions, factoring structures, funding claims, fuel programs, and public reviews for trucking carriers. We favored firms with a clear trucking focus, a published service range, and a track record serving carriers, and we included both large factors and smaller specialists. Where a firm does not publish rates, this guide says so, because a quoted rate on a third-party site is not a substitute for a written quote from the factor.
Frequently asked questions
What is freight factoring?
Freight factoring is the sale of unpaid freight invoices to a factor for an advance, usually a percentage of the invoice value, minus a fee. The factor collects payment from the broker or shipper, and the carrier receives the remaining balance after fees and any reserve, once payment arrives.
What is the difference between recourse and non-recourse factoring?
With recourse factoring, the carrier repays the advance if the broker fails to pay. With non-recourse factoring, the factor bears the credit risk for approved invoices and debtors, subject to exclusions in the contract. Non-recourse usually costs more, and coverage is never unlimited.
How fast do carriers get paid through factoring?
Many factors advertise same-day funding for approved invoices submitted before a cutoff time. In practice, speed depends on invoice accuracy, broker approval, and submission time. New accounts may fund more slowly at first.
What does factoring cost a carrier?
Cost depends on the factor rate, advance rate, reserve, transfer fees, aging fees, and any minimums or fuel card charges. Because most rates are quoted, carriers should compare written quotes on identical invoices rather than relying on advertised ranges alone.
Do I have to factor every invoice?
Some factors allow selective factoring, where you choose which invoices to factor, while others require all invoices from a broker or client. Selective factoring gives flexibility, but it can affect the rate. Check this clause before signing.
Can I leave a factoring contract early?
It depends on the contract. Some agreements have a fixed term and an early termination fee, while others allow exit with notice. Confirm the term, notice period, and fee in writing, and ask what happens to reserves and unpaid invoices on exit.
Sources we checked (8)
- https://www.rtsfinancial.com
- https://www.triumphbusinesscapital.com
- https://www.apexcapitalcorp.com
- https://www.otrsolutions.com
- https://www.tafs.com
- https://www.ecapital.com
- https://www.rivierafinance.com
- https://www.thunderfunding.com
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.