Owner Operators
If you’re just getting started or have just a few trucks, Triumph has competitive solutions for your business.
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Who Need Freight Factoring?
Fleets
We specialize in working through the complexity and volume of large fleet business owners, even if you have 500 or more trucks.
Learn MoreFreight Brokers
We offer an industry-leading supply chain finance and carrier payments solution for logistics professionals.
Learn MorePerks of Factoring With Triumph
Discover what sets us apart from others in the industry.
Funding Available 24/7
Bank hours are a thing of the past. Get funded any time of day, even on weekends and holidays.
Price Transparency
Our pricing is straightforward — no changes without notice, no exceptions.
Non-Recourse Contracts Available
Protect your business. Even if your customer goes bankrupt, you’re in the clear.
No Minimums, No Reserves
There’s no catch. Choose the brokers you’d like to work with and the loads you’d like to factor.
Apply Today
Get on the fast track to 24/7 funding.
How does Factoring Work?
Submit your paperwork and invoices
Our smart decision platform will instantly approve qualifying invoices
Get paid within minutes* 24/7
Streamline Your Business With Triumph
Insurance
Split your downpayment into twleve equal payments and pay your monthly premium from your factoring fees.
Fuel Program
Offset the cost of factoring through deep fuel discounts. Clients are currently saving** 48 cents per gallon on average.
LoadPay
Get your factored funds within minutes, any time of day. We do not charge wire fees, and there’s no wait time to use your funds.
Freight Factoring FAQs
Is freight factoring a loan?
Factoring is immediate (same-day) payment for your invoices. A freight factoring company advances you the majority of the invoice amount minus a small fee. There is no loan involved and no debt to pay back. We collect the money from your customer, which completes the transaction.
Other differences between factoring and a bank loan include:
- It’s faster. Loan processing can take weeks or longer. You might as well wait for the customer to pay you.
- It’s more flexible. You aren’t locked into a long repayment period. Factor your invoices to boost your cash flow, not your debt.
- You have more control. The cash you receive for invoices is unrestricted, so you can use it however you want. Many business bank loans require the money to be used for specific purposes.
Can I work with a freight factoring company if I have bad or no credit history?
Yes! Factoring companies partner with new and established trucking businesses to provide cash flow solutions, even if you have no credit history or are working to improve it.
Factoring companies consider the credit worthiness of your customers when approving your application. This is another reason why factoring is such a great financial tool for truckers. It doesn’t matter if you’re just getting started, or you’ve been running a business for a while — you can always tap into your unpaid invoices to maintain your cash flow.
How much does it cost to factor my freight invoices?
Factoring rates are based on the amount and volume of your loads. When applying for freight factoring services, it’s important to think about what you’re getting for your rate. Most factoring companies offer other services in addition to advancing funds quickly, including:
- Back-office solutions: Outsource administrative tasks such as creating and submitting invoices and collections.
- Broker checks: See what brokers are preapproved for factoring and to what amount.
- Reporting: Understand where your business is.
- Other solutions: Access discount fuel cards, truck and cargo insurance, and more programs to help your business grow.
When you speak to a Triumph representative, we’ll let you know the full value we provide for trucking companies.
Can I refer other truck companies to Triumph for factoring?
Absolutely. We partner with clients all the time to help more truckers get access to freight factoring services. Our Client Referral Program even pays a bonus every time a new client funds their first load with Triumph.
Do you offer 24/7 freight factoring?
Yes. We know trucking companies need money around the clock, and we’re committed to getting money in the hands of our clients as fast as possible.
Be sure to ask a Triumph representative about free, 24/7 funding to your LoadPay debit account.
