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Invoice Factoring for Owner-Operators and Small Carriers

What is Freight Factoring?

After all the start-up costs to get your trucking business up and running, it’s time to start making some money. The problem is that there’s usually a waiting period between when you submit the invoice for a load you’ve hauled and when you get paid. Freight factoring is one way to get paid right away without having to deal with that waiting period.

This is especially helpful for new trucking businesses. Basically, you sell the invoice to a factoring company for slightly less than the full cost. Companies like OTR Solutions will pay you the same day, so that you can avoid taking on any new debt for the business. This also gives your business cash on hand in case of any maintenance emergencies.

Which Loads Can Be Factored?

If you use a DAT load board like DAT One (Formerly TruckersEdge and DAT Power), then you can tell immediately which postings have available load factoring. Any load with a blue check mark next to it can be factored through OTR Solutions, so you can find loads and get paid more efficiently.