The freight factoring industry is unregulated and many would say it is like the Wild West. The purpose of our rankings is to help trucking companies quickly identify the most reliable, trustworthy and cost-effective factoring partners and then connect with them. By providing objective comparisons based on important criteria like customer service, contract terms, funding speed, and fringe benefits like gas programs, our site empowers carriers to make informed decisions to fit their needs. Our experts slimmed the list down to some well-known freight factoring companies mixed with some that fly under the radar and may be considered diamonds in the rough.
| True, full service, non-recourse factoring |
| Instant credit approvals available online via FastCredit™ |
| Funding within 24-hours of verification |
| Same day (small charge) & next day funding offered |
| No application or set-up fee |
| Application process does not require soft credit pull & background check |
| High advance rates, up to 95% |
| No monthly minimum volume requirement |
| Standard contract term is 12 months with flexibility |
| Variable rate pricing |
| Small wire fee |
| Large, established but fairly rigid approved broker network to stay within |
| No termination fee if 30 day notice given |
| 3% termination fee (ETF), but not typically enforced |
| UCC filing is Collateral Specific, not blanket |
| Dedicated account team |
| Multilingual account representatives |
| Lots of offices around the country for an in-person touch |
| Client portal (ROAM™) with access to all account information in one place |
| Doesn’t have a true phone app, but can access the portal through a phone browser |
| Website has a chat feature |
Aggregated Overall Customer Review Score
% 5 Star Reviews
% 1 Star Reviews
BBB Rating
Overall Score
| Non-recourse & recourse offered |
| Pre-approval in 2 hours |
| Instant (PorterWallet) & 24 hour funding offered |
| No additional fee for instant fund transfers |
| Contract terms of month-to-month, bi-annual, or yearly offered |
| Cash advances up to 100% less fees |
| Variety of flat rate pricing (not tiered) |
| No monthly minimum volume requirement |
| No application fees or credit check |
| Additional fees – ACH and wire transfer |
| No termination fee if proper notice is given based on length of contract (30-90 days) |
| Pool of pre-approved brokers is relatively small |
| Carriers with three or more trucks must meet a specific monthly factoring volume or face fees |
| UCC filing is Collateral Specific, not blanket |
| 24/7 Customer support |
| Dedicated account executive |
| Collections assistance & other back-office support |
| Portal & mobile app available |
| Website has a chat feature |
Aggregated Overall Customer Review Score
% 5 Star Reviews
% 1 Star Reviews
BBB Rating
Overall Score
| Non-recourse factoring only |
| Same day (no additional charge) & next day funding offered |
| Up to 100% Advance Rate |
| No long term contract, 90 day contract term is the standard |
| No application fees |
| Application process does not require soft credit pull or background check |
| Additional fees – ACH and wire transfer |
| No monthly minimum volume requirement |
| Competitive rates, not typically the low price leader but will work with customer |
| Larger companies can get lower rates |
| No termination fee if 60 day notice given |
| UCC filing is All-Asset (blanket) |
| UCC filed upon first load |
| Collections assistance & other back-office support |
| 24/7 access to mobile app & online portal to manage loads, invoices, and scan documents |
| Website has a chat feature |
Aggregated Overall Customer Review Score
% 5 Star Reviews
% 1 Star Reviews
BBB Rating
Overall Score
| Non-recourse & recourse offered |
| Instant (InstaPay) & 24 hour funding offered |
| Additional fee for instant fund transfers |
| Get a quote in 5 minutes |
| Application process requires soft credit pull |
| No restrictions on the amount of time in business in order to receive factoring services |
| Set-up fee: ~$100 if decide to sign up |
| Standard contract term is 12 month |
| High advance rates |
| Variety of contract options |
| No monthly minimum volume requirement |
| Termination Fee (ETF): ~$100-$150 |
| No termination fee if 60 day notice given |
| No approved broker network to stay within, but broker has to clear a credit check |
| UCC filing is Collateral Specific, not blanket |
| Dedicated account representatives |
| Collections assistance & other back-office support |
| Advanced, easy to use online portal (CONNECT) & app |
| Platform allows you to manage your freight factoring funds, track transactions, and access real-time reporting |
Aggregated Overall Customer Review Score
% 5 Star Reviews
% 1 Star Reviews
BBB Rating
Overall Score
| Non-recourse factoring only |
| Instant (LoadPay app) & 24 hour funding offered |
| 24/7 funding |
| Advance rates up to 100% minus fees |
| Standard contract term is 12 months |
| Application process requires soft credit pull & background check |
| No application fee |
| Set-up fee: $100 |
| No monthly minimum volume requirement |
| No termination fee if 60 day notice given |
| No approved broker network to stay within, but broker has to clear a credit check |
| UCC filing is All-Asset (blanket) |
| Large, dedicated staff |
| Collections assistance & other back-office support |
| Great web portal (MyTriumph) with real-time reporting |
| Website has a chat feature |
Aggregated Overall Customer Review Score
% 5 Star Reviews
% 1 Star Reviews
BBB Rating
Overall Score
| Non-recourse & recourse offered |
| True non-recourse, covers all invoices that have proof of delivery without issue |
| Instant (BOLT) & 24 hour funding offered |
| 24/7 funding |
| High advance rates |
| Competitive rates, not typically the low price leader |
| No chargebacks on cleanly delivered loads |
| No long-term contracts required |
| Standard contract term is 12 month |
| No application fee |
| Initial set-up after application completed is typically within a couple hours |
| No monthly minimum volume requirement |
| Additional fees – ACH and wire transfer |
| No termination fee if 90 day notice given |
| Early termination fee (ETF) is sizable |
| Can only factor within OTR’s approved network |
| UCC filing is Collateral Specific, not blanket |
| “No voicemail” policy, always get someone live |
| Dedicated, multilingual account representatives |
| Collections assistance & other back-office support |
| Robust, user friendly mobile app & online portal |
Aggregated Overall Customer Review Score
% 5 Star Reviews
% 1 Star Reviews
BBB Rating
Overall Score
| Non-recourse & recourse offered |
| Same day funding ($10 fee) and next day (no charge) |
| Standard contract term is 12 months |
| No ACH fees |
| Online application process not offered, you must speak with a sales representative |
| No application or set-up fee |
| Application process does require credit pull |
| Application & approval process can take around a week |
| No termination fee if 60 day notice given |
| There is a monthly tiered volume structure that can reduce rates |
| Discounts for U.S. veterans |
| Large network of brokers, will only work with A,B or C rated |
| Early termination fee (ETF) is sizeable (~$5,000) |
| May have wiggle room on ETF if in good communication with your rep |
| UCC filing is Collateral Specific, not blanket |
| UCC filed immediately once necessary customer data received |
| Dedicated customer support team |
| Great mobile & web app (RTS Pro) that lets you upload invoices, submit invoices in bundles, use the camera to scan invoices and access reports |
| No phone number or email address on website, must fill out form to get a call back |
| Website does not contain a lot of specifics |
Aggregated Overall Customer Review Score
% 5 Star Reviews
% 1 Star Reviews
BBB Rating
Overall Score
| % Allocation to Score | ||
|---|---|---|
| 7.4% | 10% | Public Reviews Overall Score |
| 9.9% | 15% | Public Reviews % 5 Star Ratings |
| 10.4% | 15% | Public Reviews % 1 Star Ratings |
| 4.3% | 5% | Better Business Bureau Grade |
| 9.5% | 10% | Number of BBB Complaints Closed in the Last 12 Months |
| 9.5% | 10% | Number of BBB Complaints in the Last 3 Years |
| 4.5% | 10% | Assistance Availability |
| 6.8% | 15% | Contract length & flexibility |
| 7.5% | 10% | Other benefits/offerings |
| 69.9% | 100.0% | Total Score |
| % Allocation to Score | ||
|---|---|---|
| 9.0% | 10% | Public Reviews Overall Score |
| 11.7% | 15% | Public Reviews % 5 Star Ratings |
| 13.7% | 15% | Public Reviews % 1 Star Ratings |
| 5.0% | 5% | Better Business Bureau Grade |
| 9.7% | 10% | Number of BBB Complaints Closed in the Last 12 Months |
| 9.7% | 10% | Number of BBB Complaints in the Last 3 Years |
| 6.8% | 10% | Assistance Availability |
| 12.5% | 15% | Contract length & flexibility |
| 7.1% | 10% | Other benefits/offerings |
| 85.1% | 100.0% | Total Score |
| % Allocation to Score | ||
|---|---|---|
| 8.8% | 10% | Public Reviews Overall Score |
| 12.5% | 15% | Public Reviews % 5 Star Ratings |
| 12.9% | 15% | Public Reviews % 1 Star Ratings |
| 5.0% | 5% | Better Business Bureau Grade |
| 0.0% | 10% | Number of BBB Complaints Closed in the Last 12 Months |
| 0.0% | 10% | Number of BBB Complaints in the Last 3 Years |
| 3.4% | 10% | Assistance Availability |
| 6.8% | 15% | Contract length & flexibility |
| 9.2% | 10% | Other benefits/offerings |
| 58.6% | 100.0% | Total Score |
| % Allocation to Score | ||
|---|---|---|
| 9.4% | 10% | Public Reviews Overall Score |
| 13.4% | 15% | Public Reviews % 5 Star Ratings |
| 14.1% | 15% | Public Reviews % 1 Star Ratings |
| 5.0% | 5% | Better Business Bureau Grade |
| 10.0% | 10% | Number of BBB Complaints Closed in the Last 12 Months |
| 10.0% | 10% | Number of BBB Complaints in the Last 3 Years |
| 4.8% | 10% | Assistance Availability |
| 12.5% | 15% | Contract length & flexibility |
| 7.9% | 10% | Other benefits/offerings |
| 87.1% | 100.0% | Total Score |
| % Allocation to Score | ||
|---|---|---|
| 9.2% | 10% | Public Reviews Overall Score |
| 12.6% | 15% | Public Reviews % 5 Star Ratings |
| 13.8% | 15% | Public Reviews % 1 Star Ratings |
| 4.3% | 5% | Better Business Bureau Grade |
| 7.9% | 10% | Number of BBB Complaints Closed in the Last 12 Months |
| 5.8% | 10% | Number of BBB Complaints in the Last 3 Years |
| 3.1% | 10% | Assistance Availability |
| 4.4% | 15% | Contract length & flexibility |
| 8.8% | 10% | Other benefits/offerings |
| 70.0% | 100.0% | Total Score |
| % Allocation to Score | ||
|---|---|---|
| 9.2% | 10% | Public Reviews Overall Score |
| 13.2% | 15% | Public Reviews % 5 Star Ratings |
| 13.8% | 15% | Public Reviews % 1 Star Ratings |
| 4.0% | 5% | Better Business Bureau Grade |
| 6.2% | 10% | Number of BBB Complaints Closed in the Last 12 Months |
| 4.3% | 10% | Number of BBB Complaints in the Last 3 Years |
| 4.3% | 10% | Assistance Availability |
| 6.8% | 15% | Contract length & flexibility |
| 9.2% | 10% | Other benefits/offerings |
| 71.0% | 100.0% | Total Score |
| % Allocation to Score | ||
|---|---|---|
| 9.7% | 10% | Public Reviews Overall Score |
| 14.2% | 15% | Public Reviews % 5 Star Ratings |
| 14.6% | 15% | Public Reviews % 1 Star Ratings |
| 5.0% | 5% | Better Business Bureau Grade |
| 10.0% | 10% | Number of BBB Complaints Closed in the Last 12 Months |
| 10.0% | 10% | Number of BBB Complaints in the Last 3 Years |
| 7.7% | 10% | Assistance Availability |
| 13.1% | 15% | Contract length & flexibility |
| 4.6% | 10% | Other benefits/offerings |
| 88.9% | 100.0% | Total Score |
| % Allocation to Score | |||
|---|---|---|---|
| 9.4% | 10% | Public Reviews Overall Score | |
| 13.4% | 15% | Public Reviews % 5 Star Ratings | |
| 14.2% | 15% | Public Reviews % 1 Star Ratings | |
| 5.0% | 5% | Better Business Bureau Grade | |
| 9.2% | 10% | Number of BBB Complaints Closed in the Last 12 Months | |
| 9.4% | 10% | Number of BBB Complaints in the Last 3 Years | |
| 6.3% | 10% | Assistance Availability | |
| 12.5% | 15% | Contract length & flexibility | |
| 9.2% | 10% | Other benefits/offerings | |
| 88.5% | 100.0% | Total Score | |