Whether you need cash for fuel, repairs, or anything else while on a load, you have the flexibility to get funds faster with TruckSmarter! Factoring customers can be paid up to 50% of a load's value before delivery. Advanced funds are deposited into your TruckSmarter checking account within 30 minutes of an approved request for a 1.5% advance fee.
When can I request an advance?
Advance requests are processed between 8:00AM to 5:00PM CST, Monday through Friday. Advances can be requested as soon as you’ve picked up a load and are in transit. Advances can’t be requested on a booked load until it is picked up. You can submit a request outside of business hours anytime and we will process it as soon as we can.
If you know you’ll need an advance outside of business hours, please contact us.
Requesting an advance
Navigate to the Factoring tab and click the Request an advance button or fill out our advance form from the web.
Provide the required information such as the load ID, broker, and advance amount. You can request up to 50% of the load rate with a maximum request of $4000 and a minimum request of $200.
Next, upload a copy of the rate confirmation for the load and a scan or photo of the bill of lading proving that the load has been picked up.
Finally, confirm that you have reviewed the advance terms and conditions and submit your request.
How will I get my advanced funds?
Funds are deposited directly to your TruckSmarter checking account just like when you are paid for a factored load. The advance fee of 1.5% will be deducted from your requested advance amount.
If you use your TruckSmarter debit card on any future purchases you'll receive 1% cash back, effectively reducing your advance fee.
After the load is delivered
When you deliver a load you took an advance on, simply submit it for factoring at the full value of the load. The advance amount will be automatically deducted from your payout.
You do not have to deduct the advance amount or search through the rate confirmation to determine the fee structure like you might on an advance taken from a broker.
How much do I pay for an advance?
When you request an advance a 1.5% fee will be deducted from the amount requested when the advance is paid. When the load delivers, you will be charged the full factoring rate on the load.
Call or text TruckSmarter at (207) 814-8433 for feedback or questions related to advances.
Terms and Conditions
- Advances are charged at 1.5% of the advance amount. This will be deducted from your advance amount. By taking the Advance you agree to factor the load with TruckSmarter. When you factor the load you will factor the full amount and be charged your normal factoring fee.
- Advances and associated fees are NON-REFUNDABLE.
- Advance repayment will be taken from the next available invoice factored, NOT specifically the load submitted for advance.
- Carriers are NOT eligible for an advance if they have an outstanding active billback, are on a payment plan, or have factored less than 5 lifetime loads. If a carrier does not meet this criteria, the advance will be rejected and the carrier will be notified.
- Advances require broker confirmation. TruckSmarter will get to get that confirmation and provide updates if we are unable to get it.
- Load must be in-transit to be eligible for an advance and the carrier must provide a Bill of Lading for the load.
- Load rate must be greater than or equal to $400 to be eligible for an advance. We will advance up to 50% of load value. Minimum advance amount is $200, maximum is $4000.