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!
🧠 Note that TruckSmarter's Factoring business is known as "SmartTrucker". Please refer to SmartTrucker when you are talking with brokers about your factoring company!
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?
I’m currently in a factoring contract — does TruckSmarter assist with buyouts?
Yes! Our team is happy to walk through a buyout process with you. Here is a guide that explains it in detail.
In order to be able to execute on a buyout, we will need an up to date aging report submitted from your current factoring company and written confirmation from your current factoring provider that you are eligible for a contract buyout. If you have this information in hand, please send it to firstname.lastname@example.org.
If you have any questions about switching Factoring companies, complete the Contact Us form. You can also email email@example.com or call (207) 309-3397. Our Chicago-based Factoring team can answer your questions live Monday–Friday, 8:00am–6:00pm CT.
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?
You do not have to sign up for TruckSmarter factoring to book loads through the TruckSmarter load board for free! If you do decide to partner with us for factoring, we will ask that you factor most brokers you work with.
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. As long as a broker meets our credit standards they can be factored, no matter how you found or booked the load.
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. The majority of invoices we receive during business hours are paid out in 4 hours or less. With your TruckSmarter Wallet, you will receive payments instantly upon invoice approval 7 days a week.
Your payment will be issued the same day if the following is completed:
- Your invoice has been submitted before 1:00PM 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 ensure you send the NOA in advance using the app.
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.
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.
TruckSmarter Factoring Support is available Monday–Friday, 8:30am–5:00pm CT. For requests outside of these hours, please submit a request through the TruckSmarter app, leave a voicemail, or send an email to one of the contacts below:
TruckSmarter App: Navigate to the Profile tab and tap Get support from our team
Phone/Text Message: +1 (404) 738-7125