TruckSmarter Factoring lets you keep more of what you make by offering a flat 2% rate with no additional fees. Read on to learn more about how to power your business with TruckSmarter Factoring!
Is TruckSmarter Factoring non-recourse?
What if I’m currently in a factoring contract but I want to switch to TruckSmarter?
Do I have to factor my TruckSmarter loads with TruckSmarter?
Can I factor loads from other load boards?
How should I handle accessorials when factoring my load?
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🧠 Note that TruckSmarter's Factoring business is known as "SmartTrucker". Please refer to SmartTrucker when you are talking with brokers about your factoring company! |
First steps
After you have expressed interest in TruckSmarter Factoring, we will call you within 24 hours to confirm that you are ready to work with us and that you are not under contract with another factoring company. If you want to onboard sooner or have any questions, please give us a call at +1 (312) 585-2075.
To begin the onboarding process, we will send the Notice of Assignment (NOA) on your behalf to all of the brokers on the TruckSmarter Load Board. If there are brokers that you regularly work with that are not on the TruckSmarter Load Board, please let us know by filing a Factoring new broker ticket through the TruckSmarter app. Learn more about sending NOAs to brokers in our article Broker status.
Is TruckSmarter Factoring non-recourse?
- If a broker rejects the documents you provide to us (too blurry, missing signatures, etc), we will work with you to get the proper documents in the ideal format to get you paid.
- If we encounter a payment issue, we will communicate with you clearly, early, and often so we have time to work together and find a solution – and so you’re never caught off guard.
I’m currently in a factoring contract. Does TruckSmarter assist with buyouts?
In short, TruckSmarter does not offer buyouts at this time. If you are able to obtain a full letter of release from your current factoring company we would be happy to work with you.
In order to obtain a full release, you’ll need to provide a cancellation notice to your current factoring company and have every load you’ve factored with your factoring company be wholly paid by the affiliated brokers. This means that you will have to pause factoring with your current factoring company while you wait for all of your invoices to be paid. We understand this can be difficult, but please contact us if you have any questions.
Which brokers are supported?
TruckSmarter Factoring supports hundreds of approved brokers, and the entire list can be viewed from within the TruckSmarter app. To view the list, navigate to the Money tab and select the Search brokers button to see all factorable brokers in our network:
| 👀 Don’t see the broker you’re looking for? Submit a request for a new broker so that we can verify their business and add them to our platform. |
Do I have to factor my TruckSmarter loads with TruckSmarter?
Nope, you do not have to factor loads that you book through TruckSmarter.
Can I factor loads from other load boards?
Yes! We don't want you to miss out on good freight — TruckSmarter will factor any load! If you use other load boards, check if their factoring company will factor specific brokers — it's likely that TruckSmarter can factor with those brokers, too.
How quickly will I get paid?
We aim to process every payment as quickly as possible. Our standard is to review and process payments within 24 hours of invoice upload. If you have a TruckSmarter managed bank account, you will receive payments instantly upon our team reviewing the invoice upload.
Your payment will be issued the same day if the following is completed:
- Your invoice has been submitted before 10:00AM Eastern Time
- The broker has accepted your NOA
- You have provided TruckSmarter with clear and legible invoice documents
| 🕒 To ensure same-day payment, send the broker your NOA when you book the load so that we can verify the NOA has been accepted by the time you deliver your load. |
What causes payment delays?
We can only begin the payment process once a broker has accepted your NOA. Some brokers do this instantly, but some brokers take many hours or days. To avoid any delays, and if you know you are moving a load with a broker that we haven’t factored for you in the past, please call us ahead of time so that we can begin the process.
To avoid any issues with your invoice submission, make sure your documents have legible text and that there is a clear signature on your bill of lading.
| 💬 Text your rate confirmation to +1(312) 585-2075 after you book the load so that TruckSmarter can easily verify your load details in our system. |
How should I handle accessorials when factoring my load?
Any accessorials you want to submit must be listed on the rate confirmation so that we can pay you out accordingly. Similarly, in order to be reimbursed for any lumper fees, please submit a lumper receipt with your bill of lading. Please review our Factoring a load article for more information.
Need help?
Our factoring support is available Monday–Friday, 8:00am–6:00pm CT. For requests outside of these hours, please leave a voicemail or send an email to one of the contacts below:
Phone/Text Message: +1 (404) 738-7125
Email: factoring@trucksmarter.com
Learn more
- Want to learn more about Notice of Assignments? Please read our What is a Notice of Assignment (NOA)? article!
- To see how to factor your load with TruckSmarter, please read our Factoring a load article.
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