Freight factoring for trucking companies
Fuel, drivers, insurance, and maintenance are due now; shippers and brokers pay in 30 to 60 days. Freight factoring closes that gap: Voxen Capital structures facilities from $50,000 to $10,000,000 that convert delivered freight bills into cash within 24 hours, with approval based on the credit of the shippers and brokers you haul for — not on your company's age or credit score.
Start an applicationThe 30-to-60-day gap is what parks trucks
A carrier's costs are immediate and its revenue is not. Every load hauled adds fuel, wages, and wear today against a payment that arrives one or two months later — so the more freight a carrier books, the more cash it consumes. Growth stalls not for lack of loads but for lack of the float to run them.
Banks size credit to a carrier's balance sheet and history, which is exactly what a growing or newly-authorized carrier does not have. Factoring sizes the facility to the freight itself: the collateral is the invoice, and the underwriting question is whether the shipper or broker on it pays. Haul for creditworthy freight, and the facility grows with your dispatch board.
That is why factoring is the default financing instrument in transportation — it turns the paperwork you already generate on every load into the working capital that keeps the fleet moving.
Operations we structure financing for
- Long-haul and regional carriers
- Owner-operators scaling into small fleets
- Newly-authorized carriers hauling for established shippers
- Freight brokerages paying carriers before shippers pay them
- Drayage, intermodal, and container haulers
- Specialized, flatbed, and heavy-haul operators
How freight factoring works
- Send your customer list — Submit the shippers and brokers you haul for with your application. Approval follows their credit, so a young carrier with strong freight is a fundable file.
- Facility structured in 5–10 business days — Voxen structures the facility — advance rate, fee, customer limits — and places it with a lender who knows transportation receivables.
- Deliver, invoice, get paid in 24 hours — Submit the freight bill and proof of delivery; the advance lands the next business day instead of next month.
- Reserve released when the shipper pays — When the shipper or broker settles the invoice, the balance is released to you, less the factoring fee. The facility revolves with every load you haul.
The products carriers use
Factoring carries the freight-payment cycle; equipment financing puts trucks and trailers to work — new or used, dealer or auction, up to $5,000,000 with the equipment as collateral. Most growing carriers run both.
| Invoice Factoring | $50K–$10M · 5–10 business days to set up; 24h per invoice after |
|---|---|
| Equipment Financing | $25K–$5M · 3–10 business days |
Frequently asked questions
I just got my operating authority. Can I factor?
Generally, yes. Factoring approval follows the credit of the shippers and brokers you haul for, not your company's age. A newly-authorized carrier hauling for established freight is a fundable file — which is why factoring is how most new carriers finance their first year.
How is factoring different from a broker's quick pay?
Quick pay is one broker paying its own invoices faster, usually for a fee, and only on that broker's freight. A factoring facility covers your whole customer list at once, pays on a consistent 24-hour cycle regardless of which broker the load came from, and grows with your volume. Carriers hauling for multiple brokers usually find one facility simpler and cheaper than juggling several quick-pay programs.
What do I need to submit with each invoice?
The freight bill and the proof of delivery — the same paperwork the shipper requires anyway. Clean PODs are what keep the 24-hour funding cycle moving, so a carrier with disciplined paperwork gets the most out of a facility.
Most of my freight comes from one shipper. Is that a problem?
Concentration is managed, not declined. The facility sets a limit per customer based on that customer's credit, so one strong shipper can carry a large share of the facility. Your advisor structures the limits around your actual freight mix.
Can you finance my next truck too?
Yes. Equipment financing covers trucks and trailers — new or used, from dealers, auctions, or private sales — up to $5,000,000, with terms of 24 to 84 months and the vehicle itself as collateral. Used trucks typically qualify up to around 10 years old. Many carriers pair the factoring facility with equipment financing as the fleet grows.
What does freight factoring cost?
A discount fee per invoice, set by your monthly volume, your customers' credit, and how fast they pay. It is quoted per file — no application fee, and no credit impact to find out your rate.