We did the research, so you don't have to.
So let's be honest and get this out of the way first: when it comes to choosing a truck factoring partner, you should trust your instincts. If something sounds too good to be true, it probably is. Trust your gut and prioritize a company that values relationships over low rates. Just because a company boasts incredibly low rates doesn’t mean they’re your best bet. Hidden fees and poor service can quickly turn those savings into headaches. Factoring is supposed to help you solve your cash flow problems, not create more of them.
If you're curious about the best freight factoring rate options for your trucking business, click here. In addition to figuring out which rate options work best for your situation, there are also a host of questions that you should make sure you ask before signing a contract. Otherwise, keep scrolling to view our extensively researched shortlist of the best factoring companies in the U.S.
"I have been factoring for 4 years now and hands down the best decision. Staff is friendly, helpful and will go above and way beyond to help with your needs. Great Experience always"
“Great company to partner with, quick and efficient payment every time. Tremendous help with cash flow! Thanks Tyler and team!”
“OTR has been absolutely amazing! As a new company, having funding that’s fast and reliable is key! My account manager is always on right on time with any questions or concerns I may have."
“I had an excellent experience with Megan Yenney from OTR Solutions. Her communication was clear and timely, and her customer service was outstanding. Whenever I needed assistance, Megan was always there.”
“Always taken care of their clients first, easy going factoring company, the fact that team Mitchell P. Furey works with us and always taken care of us we love working with OTR. Been with them in business for a little over 3 years and best in da Business”
"I have been factoring for 4 years now and hands down the best decision. Staff is friendly, helpful and will go above and way beyond to help with your needs. Great Experience always"
“Great company to partner with, quick and efficient payment every time. Tremendous help with cash flow! Thanks Tyler and team!”
“OTR has been absolutely amazing! As a new company, having funding that’s fast and reliable is key! My account manager is always on right on time with any questions or concerns I may have."
“I had an excellent experience with Megan Yenney from OTR Solutions. Her communication was clear and timely, and her customer service was outstanding. Whenever I needed assistance, Megan was always there.”
“Always taken care of their clients first, easy going factoring company, the fact that team Mitchell P. Furey works with us and always taken care of us we love working with OTR. Been with them in business for a little over 3 years and best in da Business”
Selecting a freight factoring company is about more than just getting cash quickly—it’s about finding a trustworthy partner who understands your industry and your business. Great factoring companies aren't always the cheapest factoring companies with the lowest factoring rates. Whether you're looking for the top freight factoring companies for brokers, or the top truck factoring companies for owner operators, you should feel good about your decision. Before you jump into any agreements, there are some things you should keep in mind as you figure out which company is best for you. Check out these five key factors to ensure you’re partnering with a company that delivers both in service and value:
You’ll find fees everywhere, but the key is transparency. Some factoring companies try to draw you in with low rates, but have sneakily high fees and poor customer service. Look for companies that clearly spell out their rates and any additional fees. Be wary of those “low rates” that come with hidden costs or complicated terms.
The advance rate is how much of your invoice the company gives you upfront. A good factoring company typically offers between 70% to 90%. Aim for the higher end if you don’t want to feel like you’re making a small withdrawal from a very picky ATM. It is your money after all.
Look for a factoring company with responsive, accessible customer service. The best factoring companies have a dedicated account manager, so you know who you're looking to call. It’s not just about getting answers—it’s about getting them quickly. Imagine calling in and actually speaking to someone who doesn’t need a script to answer your questions. It’s possible, and it’s worth it. If the factoring reviews online mention high praise for account managers by name, that's usually a good sign.
Regardless of what your company representative has said, always, always, always read the contract before you sign since that is the only thing that matters. Watch out for long-term commitments, early termination fees, or onerous conditions that could tie you down. A flexible contract allows you to scale up or down based on your needs. The best factoring companies offer terms that allow you to choose your contract length, factor the invoices you choose, and let you terminate your contract without any fees. Reading the terms of your contract should not feel like reading a riddle, so go with a company that’s upfront about its terms, conditions, and fees.
Not all factoring companies know their freight from their flatbeds. Choose a company that’s got the freight industry in their DNA, and specialized in freight factoring. They should understand your invoices as well as you understand your morning coffee order. When they speak the same language, you’ll get better service and fewer headaches.
Invoice Factoring can be a powerful tool when harnessed properly, you just have to take the first step! If you'd like to learn more, feel free to read our blog where we break down the ins and outs of the freight factoring industry.
OTR Solutions has emerged as our top pick for the best freight factoring company, and it's not hard to understand why. OTR Solutions has been around for over a decade and is both a member of the esteemed international factoring associated and has a BBB accreditation. Here are a couple of reasons why we believe OTR Solutions is a standout factoring partner:
Fast Funding: With their innovative BOLT software, OTR Factoring Solutions strives to get your funds are available in minutes. Getting your money quickly is fundamental to making sure you can keep your truckers on the road, so their rapid funding system delivers when you need it most.
Easy to Use App: OTR Factoring Solutions has the most popular app for factoring on this list of companies. The app get rave reviews because it's helpful, straightforward, and makes its user's lives much easier. Customers love that it only takes a minute to submit an invoice, offers the fuel finder features which allows you to save money on fuel, and allows you to search over 90,000 brokers and customers for an immediate approval status.
Flexible Financial Solutions: Enjoy the flexibility of 96% advance on non-recourse factoring and fees starting as low as 2%. OTR Solutions Factoring understands that every business has unique needs, which is why they offer customizable contract lengths, and in some case, customized rates. In addition, you do not need to factor a minimum number of invoices per month meaning you have the flexibility to choose which invoices you'd like to factor
Risk Management and Support: OTR Solutions Factoring provide free credit checks on brokers, helping you make informed decisions about the brokers you choose to work with. Plus, their dedicated account managers offer personalized support, making sure that you’ve always got a partner in your corner helping you when you need it.
Impressive Reputation: OTR Solutions boasts impressive customer feedback with a 4.7/5 rating on Google Reviews out of 900+ reviews and a 4.9/5 rating on their app from over 1,200 reviews. This combination of high ratings, and an A- rating from the BBB underscore their dedication to providing excellent service.
While Bobtail Capital did not snag the top spot in our rankings, it's absolutely still a great choice for your factoring needs. Bobtail Factoring has been around for nearly a decade and is both a member of the esteemed international factoring associated and has a BBB accreditation. Here are a couple of reasons why we believe Bobtail is a standout factoring partner:
Stellar Reputation: With an A+ rating from the Better Business Bureau (BBB) and a nearly perfect 4.9/5 rating on Trustpilot, Bobtail Capital is a company that truckers trust. These ratings are not just numbers—they reflect the consistent, high-quality service that clients receive. The fact that they’ve had zero BBB complaints in the past 12 months speaks volumes about their dedication to customer satisfaction.
Flexible and Transparent Contracts: One of the biggest pain points in freight factoring is getting locked into rigid contracts with hidden fees. Bobtail Factoring avoids this trap by allowing you to tailor your factoring agreement to your business needs. Bobtail also strives for complete transparency—there are no hidden fees, which is a significant advantage in an industry where unexpected costs can quickly hurt your business. This straightforward approach means you can factor your invoices without worrying about surprise charges later on in your journey.
No Minimum Volume Requirements: Bobtail Capital understands that not every trucking company operates at high volumes, which is why they impose no minimum volume requirements. It doesn't matter if you’re a one-truck operation or manage a large fleet, Bobtail Capital provides the same level of service. This means that even the smallest companies can access the cash flow they need without worrying about hitting your volume numbers.
Extra Perks to Fuel Your Business: Beyond their core services, Bobtail Capital offers additional benefits designed to support your operations. Their fuel card programs provide savings on essential expenses, while free credit checks on brokers help you avoid working with unreliable partners. Moreover, their mobile app is designed for ease of use, giving you quick access to your account details and transactions, even on the go.
Bobtail Capital's deep industry expertise helps them anticipate and address the unique challenges that trucking companies face. Furthermore, their combination of stellar ratings, flexible terms, and valuable extras makes them an excellent choice for any freight company looking for a factoring partner that truly understands the industry. Whether you’re managing a small operation or a large fleet, Bobtail Capital is equipped to help you maintain a steady cash flow and keep your business moving.
While Apex Capital Corp did not snag the top spot in our rankings, it's absolutely still a great choice for your factoring needs. First, their dedicated account managers make sure that you’re not just another number. You get a personalized touch that makes a big difference when you're trying to keep your business moving. Next, Apex's top rated app, and website allows you to get paid within minutes with their blynk digital payments system. Apex understands that time is money, and they work hard to get you paid as quickly as possible.
Apex goes above and beyond with free credit checks on brokers and credit risk management tools, so you can confidently vet your brokers. With nearly 30 years of industry experience, they’ve seen it all and done it all, so they have deep industry expertise that you can trust. Their 4.87/5 BBB rating reflects their commitment to customer satisfaction, and their flexible contracts mean you don't have to be locked in to long-term commitments.
They also provide 24/7 online account access where you can monitor your account, track transactions, and get assistance anytime, anywhere. Their fuel advances and load board access add another layer of convenience, helping you stay on top of your game without the usual financial hiccups. They even have the Apex Startup Program for folks looking to get started on their own trucking company journey. For customers who qualify, Apex also has a 24/7 roadside rescue program for moments when you get stuck.
More importantly, Apex Capital Corp offers a strong non-recourse factoring option that will give you peace of mind so you can focus on keeping your trucks on the road. With no application or setup fees and the ability to choose which invoices to factor, Apex offers financial freedom and flexibility. In short, Apex Capital Corp combines speed, experience, and flexibility in a way that’s hard to beat. When it comes to choosing a freight factoring company to work with, Apex Capital Corp doesn’t just meet the bar—they raise it. Apex brings you in as a partner and has your back every step of the way.
Choosing a factoring partner is a deeply personal decision, so we make sure that we maintain a high level of care and attention to detail to our analysis. We go beyond the top five factoring companies that Google suggests, and explore well-established firms and rising stars in the industry. After carefully evaluating over a dozen contenders, we’ve narrowed it down to the top 8 companies according to our thorough ranking criteria. While some of these companies are CFS partners, their partnership status does not affect the review process and they cannot pay to be included in or rank higher in our reviews. For more on how we rate, feel free to visit our Rankings Methodology page.
