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
- OTR Solutions suits carriers that want genuine non-recourse factoring, with a 96% advance rate and rates reported around 3 to 4%.
- Apex Capital suits fleets that value round-the-clock funding and service, with rates reported around 1.5 to 3.5%.
- altLINE, Bobtail, and eCapital suit carriers that want advances up to 100% of invoice value, with different rate structures.
- Thunder Funding suits carriers that want short 90-day contracts with no termination fee.
- This is not financial advice. Factoring fees, reserves, and contract terms vary by carrier, broker mix, and volume, so read the full contract before signing.
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
 OTR Solutions | Carriers that want non-recourse protection | From 3% per invoice | No |
 Apex Capital | Fleets that want funding any hour of the day | From 1.5% per invoice | No |
 altLINE | Bank-backed factoring with low starting rates | From 0.90% per invoice | No |
 Bobtail | Carriers that want a fintech-style factoring app | Up to 3.24% per invoice | No |
 eCapital | Carriers that want the maximum advance | From 1% per invoice | No |
 Thunder Funding | Carriers that want short contracts | From 2% per invoice | No |
 TBS Factoring Service | Carriers in the Love's fuel and service ecosystem | From 1% per invoice | No |
 Riviera Finance | Carriers that want true non-recourse factoring | From 2% per invoice | No |
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The best truck factoring companies for carriers and small fleets
Starting priceFrom 3% per invoice
Free planNo
OTR Solutions is the most cited overall pick in recent factoring roundups, and the reason is risk transfer. With genuine non-recourse factoring, OTR absorbs the loss if an approved broker fails to pay, which matters most to a small carrier with no cash cushion. The advance rate is reported at 96%, and rates run around 3 to 4% depending on volume and terms.
Non-recourse protection costs more than recourse factoring, where the carrier repays the factor if the broker defaults. Carriers should confirm exactly which non-payment events are covered, since non-recourse terms always carry exclusions. For an owner-operator who cannot absorb a broker default, OTR's protection is worth the premium.
What we like- Genuine non-recourse factoring that absorbs broker non-payment risk
- 96% advance rate
- Approval often within 24 hours
Watch out for- Rates run higher than some recourse options
- Volume tiers affect pricing
- Contract terms need careful reading
Starting priceFrom 1.5% per invoice
Free planNo
Apex Capital has factored freight for decades, and its standout feature is timing. Funding runs around the clock, including nights, weekends, and holidays, which helps a carrier that delivers late and needs cash before the next load. Recent roundups report rates from 1.5 to 3.5%, with recourse and non-recourse options available.
The wide rate range means a quote matters more than a headline figure. A carrier should ask for the rate on its own broker mix and volume, plus any transfer or service fees. Apex also offers fuel discounts and account support that add value beyond the advance. For a fleet that runs nights and weekends, Apex's always-on funding is a real advantage.
What we like- Funding 24 hours a day, 365 days a year
- No contract lock-in on some plans
- Recourse and non-recourse options
Watch out for- Rates vary widely by plan, from 1.5 to 3.5%
- Fuel card and service details vary
- Larger fleets may need custom terms
Starting priceFrom 0.90% per invoice
Free planNo
altLINE is the factoring division of a bank, and that backing shows in its pricing. Rates start at 0.90%, among the lowest reported in this list, and advances can reach 100% of invoice value on qualifying invoices. Recent roundups also note no monthly minimums, which helps a carrier with uneven volume.
Bank backing brings a more formal process, and a short-term contract is required, so altLINE is not a pure month-to-month option. Rates depend on the carrier's broker mix and volume, and the lowest rate will not apply to every invoice. For a carrier with solid brokers that wants low costs and a high advance, altLINE is a strong quote to get.
What we like- Rates starting at 0.90%
- Advances up to 100% on some invoices
- No monthly minimums reported
Watch out for- Short-term contract required
- Bank-backed process can feel formal
- Rates rise with risk and volume terms
#4
Bobtail
Best for: Carriers that want a fintech-style factoring app
Visit bobtail.com
Starting priceUp to 3.24% per invoice
Free planNo
Bobtail takes a fintech approach to factoring, with an app-based workflow and advances up to 100% of invoice value with no reserve held back. That last point matters: most factors hold a reserve of 3 to 10% until the broker pays, while Bobtail advances the full invoice minus its fee. Reported rates run up to 3.24%, which gives a carrier a clear ceiling to compare.
Bobtail is newer than Apex or Riviera, so a carrier that values decades of history may prefer a traditional factor. The published rate is a maximum, and the actual quote depends on volume and broker mix. For a tech-comfortable owner-operator who wants the full invoice value fast, Bobtail is an appealing modern option.
What we like- Advances up to 100% with no reserve held
- Modern app-based workflow
- Rates up to 3.24% reported
Watch out for- Newer company than traditional factors
- Rate is a ceiling, not a guaranteed quote
- Service depth varies by plan
Starting priceFrom 1% per invoice
Free planNo
eCapital is a large commercial finance company with a dedicated freight factoring arm, and its headline feature is an advance up to 100% of invoice value. Reported rates run from 1 to 3.5%, which covers a wide range of carrier profiles and broker mixes. The scale of the company also means fuel cards, account tools, and support staff are part of the package.
A wide rate range cuts both ways. A carrier with strong brokers may land near the low end, while a newer carrier may land higher, so the only reliable figure is a personal quote. Contract terms, including minimums and termination rules, should be read closely. For a carrier that wants nearly the whole invoice value upfront, eCapital belongs on the shortlist.
What we like- Advances up to 100% on invoices
- Rates from 1 to 3.5% reported
- Large factoring operation with trucking focus
Watch out for- Rate range is wide, so quotes vary
- Contract and fee details need review
- Service experience varies by division
Starting priceFrom 2% per invoice
Free planNo
Thunder Funding wins on flexibility. Contracts run 90 days with no termination fee, which suits a carrier that wants to try factoring without a year-long commitment. Reported rates run from 2 to 5% per invoice, and approval often comes within a day for carriers with standard paperwork.
The rate ceiling is the catch. A carrier at the high end of the range pays more than with a low-rate factor, so Thunder suits short-term or trial use better than a permanent high-volume arrangement. For a new authority holder or a carrier testing factoring for the first time, the short contract removes the biggest fear: being locked in.
What we like- 90-day contracts with no termination fee
- Rates from 2 to 5% reported
- Fast approval for many carriers
Watch out for- Rate ceiling is high
- Advance rate varies
- Fewer ecosystem extras than larger rivals
Starting priceFrom 1% per invoice
Free planNo
TBS Factoring Service, part of Love's Financial, pairs factoring with fuel discounts, compliance help, and services that owner-operators already use on the road. Reported rates run from 1 to 3% on volume-based tiers, which makes TBS competitive for carriers with steady volume. The Love's connection also means fuel savings that can offset part of the factoring fee.
Volume tiers mean a small carrier may not reach the lowest rate, and the ecosystem value depends on actually using Love's fuel and services. A carrier that fuels elsewhere gets less from the bundle. For a carrier already running in the Love's network, TBS is a natural fit that combines cash flow with road services.
What we like- Rates from 1 to 3% reported on volume tiers
- Fuel discounts and compliance tools
- Backing from Love's Financial
Watch out for- Volume tiers affect the rate
- Ecosystem value depends on using Love's services
- Contract terms vary
Starting priceFrom 2% per invoice
Free planNo
Riviera Finance is one of the older names in freight factoring, and it is often cited for true non-recourse protection. Like OTR, Riviera absorbs broker non-payment risk on qualifying invoices, which protects a carrier from the worst cash flow event in trucking: a delivered load that never gets paid. Reported rates run from 2 to 5%.
The trade-offs are cost and contract terms. Non-recourse rates run higher than recourse rates, and some plans carry a termination fee, so a carrier should confirm the exit terms before signing. The process also feels more traditional than Bobtail's app workflow. For a carrier that prioritizes protection over the lowest fee, Riviera is a proven choice.
What we like- True non-recourse factoring with risk protection
- Long history in freight factoring
- Rates from 2 to 5% reported
Watch out for- Rates can run high
- Termination fee reported on some plans
- Process is more traditional than fintech rivals
How we chose
We compared factoring roundups, lender pages, and contract term guides, and we kept only firms that exist today and factor freight invoices for carriers. Rates and advance rates come from recent 2026 roundups and vary by broker mix, volume, and recourse terms, so anything variable is presented as a range rather than a promise. We favored a mix of non-recourse specialists, low-rate bank-backed options, high-advance fintech firms, and short-contract providers, since carriers range from a new owner-operator to a 20-truck fleet. No hands-on testing is claimed here. This is not financial advice, and factoring terms change often, so request a full written quote and contract summary before signing.
Reading a factoring contract before you sign
Start with the rate structure. A flat rate stays the same per invoice, while a tiered rate changes with volume or how long the broker takes to pay. Ask whether the rate is all-in or whether transfer fees, reserve fees, and monthly minimums sit on top. A low headline rate with high extra fees can cost more than a higher flat rate.
Recourse, non-recourse, and reserves
Recourse factoring means you repay the factor if the broker does not pay, while non-recourse means the factor absorbs that risk on qualifying invoices, with exclusions for disputes and paperwork problems. Ask exactly what non-recourse covers and what voids it. Also ask about the reserve: the percentage held back until the broker pays, and when it is released. A 100% advance with no reserve is the simplest structure, but it usually comes with a higher fee.
Contracts, fuel cards, and exit terms
Check the contract length, minimum volume, and termination fee before signing. Month-to-month and 90-day contracts suit carriers that want flexibility, while annual contracts may offer lower rates in exchange for commitment. Fuel cards and fuel advances add real value if you buy fuel where the card is accepted, so compare the discount network, not just the card's existence. Finally, confirm funding speed: same-day funding after setup is standard, but first-time setup and broker approval take longer.
Frequently asked questions
What is truck factoring?
Truck factoring is when a finance company buys your unpaid freight invoices and advances most of the value, usually within a day, instead of you waiting 30 to 90 days for a broker to pay. The factor then collects from the broker, and you pay a fee per invoice. It is a cash flow tool, not a loan, and approval usually depends on the broker's credit rather than yours.
How much does truck factoring cost?
Typical fees run from about 1 to 5% of invoice value, depending on volume, broker mix, and whether you choose recourse or non-recourse terms. Flat rates around 2 to 3% are common for small carriers. Ask for the all-in cost, including transfer fees and any monthly minimums, before comparing quotes.
What is the difference between recourse and non-recourse factoring?
With recourse factoring, you repay the factor if the broker fails to pay. With non-recourse factoring, the factor absorbs the loss on qualifying invoices if an approved broker does not pay, though disputes and paperwork errors are usually excluded. Non-recourse costs more, but it protects a carrier with no cash cushion from a broker default.
How fast do factoring companies pay?
Most established factors fund within 24 hours of invoice submission once your account is set up and the broker has been approved. Some offer same-day funding, and Apex Capital offers funding around the clock. First-time setup takes longer, since the factor must verify your authority, insurance, and broker relationships.
Do I have to factor every invoice?
Not always. Some factors allow selective factoring, where you factor invoices from slow-paying brokers and collect directly from fast-paying ones. Others require all invoices or a minimum volume. Ask about this before signing, since selective factoring can save fees if some of your brokers pay quickly.
Can a new owner-operator get factoring?
Yes. Factoring companies usually evaluate the broker's credit, not the carrier's, which makes factoring accessible to new authority holders. You will still need active operating authority, insurance, and clean paperwork. Rates may be higher at first until you build volume and a payment history.
Sources we checked (8)
- https://www.otrsolutions.com
- https://www.apexcapitalcorp.com
- https://www.altline.com
- https://www.bobtail.com
- https://ecapital.com
- https://www.thunderfunding.com
- https://www.tbsfactoring.com
- https://www.rivierafinance.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.