Trucking Factoring FAQs

Getting started with freight factoring should be simple and easy to understand. This FAQ page is built to give you clear, direct answers about how factoring works, what to expect when you partner with Apex, and how it supports your trucking business every day.

Whether you are new to factoring, switching from another company, or looking for better cash flow solutions, you will find answers here on costs, payments, credit checks, fuel programs, and ongoing support. Our goal is to give you the information you need to make confident decisions and keep your operation moving forward.

If you do not see your question below, connect with our chatbot in the bottom-right corner of this page for more help, or reach out to our team directly.

Getting Started with Apex Factoring

A freight factoring company, also referred to as a “factor,” purchases freight bills (accounts receivable) at a discount, providing up-front funds to a client for unpaid invoices. Instead of having to wait 30, 60, or 90 days for your customer to pay you, a factoring company can send money in less than 24 hours. The freight factor collects a fee once the invoice is paid.

That’s easy! Just give us a call at 844-204-6608 or get started here, and we’ll get your factoring application started right away.

We will need you to fill out a short factoring application, provide proof of your authority and your insurance. We will also need a list of your current customers if you have already begun operating under your own authority.

That won’t be a problem. We can work with your current factor to make sure the buyout and transition processes goes smoothly. You can learn more about what to expect when you switch factoring companies with our free guide.

Unlike some factors, Apex doesn’t lock clients into long-term contracts, nor do we charge any monthly fees or cancellation fees. We want to help your business grow. Just let us know so we can provide the flexibility you need.

Costs, Payments & Flexibility

One standard rate does not fit all clients. At Apex, we design a factoring plan around your specific business, taking into account things like your average freight rate, invoice volume, customer mix, and how often you plan to factor. Depending on your operation, your rate structure may include flat rates, tiered pricing, or other customized options that better align with how you run your business.

Our goal is to provide clear, competitive pricing without surprises, so you can accurately forecast your costs and protect your margins. We will walk you through how your rate is structured and what impacts it, so you always know what to expect.

To get a deeper understanding of how factoring rates work and what goes into them, learn more about rates here.

When you work with Apex, you are not required to factor every invoice, which gives you the flexibility to choose the loads that make the most sense for your business. This approach is commonly known as spot factoring, where you decide which invoices to factor and which to keep.

However, once you choose to factor invoices for a specific customer, we do ask that you factor all invoices for that customer. This helps maintain consistency in collections and protects the process for everyone involved.

Many factoring companies require you to factor all invoices or commit to long-term volume, limiting your control. With Apex’s spot factoring approach, you get more flexibility and freedom to manage your cash flow your way.

Clients can choose from a variety of payment options that suit their needs. We can pay you within minutes, using blynk®, which is our proprietary digital payment system that allows fast, secure payments through Zelle^®, bank debit card, or DDA transfer. We also offer ACH, wire, check, or add funds directly to your Apex TCS Fuel Card. Contact us today to learn how all our payment options will work best for your company.

Should your customer ever mistakenly send you a check or make an automatic payment into your account, you must immediately forward either the check or the payment directly to Apex. Do not deposit a check from a customer that you’ve factored with us.

How Factoring Works

Factoring is an excellent way of getting money fast to manage cash flow to pay for operating expenses without creating debt. You could go to a bank and try to get a loan, but there’s no certainty you will be approved. And even if you are approved, you may not be able to get additional loans for critical equipment such as trucks or trailers.

Because you are factoring your outstanding freight invoices, we are focused on your customers’ credit. Plus, a good factoring company will also take the hassle of collections off your back and provide you with important back office support services.

We will buy freight invoices from all your customers, including brokers, shippers, and freight forwarders. We can factor invoices for most kinds of freight. Call us to learn more.

Non-recourse and recourse refer to the party that takes the payment risk. If you enter into a recourse arrangement, you are responsible for repurchasing the invoice from the factoring company if your customer does not pay.

If you have a non-recourse arrangement, that means the factor will take the loss, not you, if the customer doesn’t pay the invoice due to credit reasons.

One of the many benefits of being an Apex client is that we make it easy for you to stay up to date on the status of your factored invoices. We provide a user-friendly online account system with a wide range of reporting and informational tools. We want to make it easy for our clients to be completely informed about their customers and invoices.

No. Apex will handle all collections to make sure payment is received as quickly as possible. We’ll document all payments we receive so you’ll know when and how we collect on your invoices. This will save you time, hassle, and the expense of managing your own collections.

Additional Services & Support

You wouldn’t buy a truck without looking at it first, right? Then why haul a load for a customer without knowing they can be relied upon to pay? Checking credit regularly will dramatically reduce serious issues such as payment delays.

Every load that you don’t get paid for means you need as many as 12 loads to make up the cost. Apex provides 24/7/365 online access so you can know instantly how much credit will be extended to one of your customers. You can also use the Apex Mobile Factoring™ App to check credit anytime.

We invest significant effort and resources to ensure our credit system is the most accurate and reliable of any factoring company. We are committed to providing the best, most trusted service.

Absolutely. In fact, our fuel card is one of the most popular programs we offer because it’s one of the best in the trucking industry. We offer substantial fuel discounts at our discount network locations. Our in-network stops include TA and Petro, AMBEST, Speedway, Sapp Bros., Roady’s, and more. The Apex Fuel Card also allows our clients to enjoy deep discounts on roadside assistance, maintenance, and tire services.

Our dedicated sales and account executive team is ready to support clients who speak English, Spanish, Russian, and Ukrainian.

We primarily factor freight bills, but we also offer other trucking business services to benefit our clients. We provide collections, credit, fuel cards, and more to help start your company and run it smoothly and effectively.

Here are a few of the extra services we offer:

• Startup Program to get your authority
• Personal account manager
• 24/7 online account access
• Free credit and collections
• Substantial fuel and tire savings programs
• Customized Apex Fuel Card program
• Cash Flow Assistance
• Apex Mobile Factoring™ App
• Exclusive, free NextLOAD load board for factoring clients