What is factoring?
Factoring is selling your invoices to a finance company for fast payment. Instead of waiting 30 days for the broker to pay you, the factoring company pays you within 24 hours of submitting your POD — and they collect from the broker in 30 days.
You pay a small fee (typically 1–5% per invoice) in exchange for the speed.
Why expedited carriers use factoring
Cash flow is everything. Fuel, truck payments, insurance, and your own paycheck don't wait 30 days.
No collections work. The factoring company chases the broker. You focus on driving.
Built-in broker credit checks. Most factors will run a broker's pay history before they'll factor an invoice — that's free risk insurance for you.
Helps new carriers. Without factoring, a new MC with no cash reserves can stall out fast.
Recourse vs. non-recourse
Two main types:
Recourse factoring — if the broker doesn't pay the factor, you eventually owe the money back. Cheaper rates (1–3%).
Non-recourse factoring — the factor takes the risk if the broker doesn't pay. Slightly higher rates (3–5%) but cleaner protection.
Most newer carriers start with non-recourse for peace of mind.
What our partner programs offer
Load Work has partner factoring programs designed specifically for cargo van and box truck expedited carriers. Typical features:
24-hour funding after POD submission
Online portal for invoice submission and tracking
Free broker credit checks
Same-day setup for verified carriers
No long-term contracts (some partners — ask about terms)
Optional fuel card and back-office integrations
Is factoring right for you?
Factoring makes sense if:
You're a new owner-operator with thin cash reserves
You're running enough volume that 30-day waits would break your operation
You don't want to do collections work yourself
You want broker credit checks built in
Factoring may NOT make sense if:
You have strong cash reserves and can wait 30 days
You only run a handful of loads per month
You exclusively work with quick-pay brokers (1–7 days, 2–4% fee — comparable cost, no third party)
How to get connected
Tell us in chat that you want to be connected to a factoring partner. We'll ask a few quick questions:
How long have you been in business?
How many loads per week (approx)?
Are you currently factoring, or new to it?
What's your average invoice size?
Then we route you to the partner that best fits your size and situation. They'll reach out within 1–2 business days with terms.
Disclaimer
Factoring is a financial service. Rates and terms vary by partner and depend on your operation. We don't quote specific rates or guarantee approval — our partners do the underwriting. Always read your factoring agreement carefully before signing, especially around minimums, termination fees, and recourse clauses.