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Freight Factoring FAQs
for Carriers & Brokers

Everything you need to know, all in one place. Browse our most frequently asked questions about freight factoring, funding, and how Express Freight Finance helps keep your business moving.

At Express Freight Finance, we're more than a factoring company—we're a financial partner dedicated to helping carriers and freight brokers keep their businesses moving.

Whether you're exploring factoring, learning about our funding solutions, or looking for ways to save on fuel, improve profitability, or grow your fleet, our FAQs are here to help you find the information you need quickly and confidently.

Factoring for CARRIERS

It’s getting paid right away for completed loads. Your factoring company gives you cash now and waits for your customer to pay later.

Not necessarily. We look at your customer’s credit, not just your FICO score. Even with low credit, you may still qualify.

Just fill out our online application and upload a copy of your driver’s license and insurance certificate. We’ll process it within 1 to 2 hours. Upon approval, we’ll send our Factoring Agreement for your signature and be ready to start.

If you move quickly, we can go from application to funding in as little as 24 hours.

Not always. We’ll tailor a program to fit your needs, and we can even offer a trial period if you’re unsure.

No. Factoring only applies if the load is under your own motor carrier number.

Fuel cards, fuel advances, load boards, dispatch, insurance, truck leasing, and data tools.

Yes. We cover the risk if your customer can’t pay due to insolvency or bankruptcy.

Factoring can help your business in multiple ways, such as:

  • Providing steady, predictable cash flow to meet your monthly financial obligations.
  • Improving your business credit by helping you pay your bills on time.
  • Supporting business growth by giving you the funds to seize new opportunities.
  • Saving time and resources with Express Freight Finance handling collections and credit management for you.

No. You choose which customers to factor—no minimums, no full-account requirements.

Yes. It’s ideal because funding is based on your customers’ credit, not yours, making it great for new or small fleets.

You can apply for factoring by simply filling out this quick online application.

Factoring for BROKERS

Factoring lets brokers get their carriers paid right away for completed loads — and get paid themselves just as fast. Express Freight Finance pays your carriers directly on your behalf and advances your funds immediately (minus the factoring fee), improving cash flow and keeping your network moving.
Not necessarily. Approval is based primarily on the creditworthiness of your shippers, not your personal or business credit score.
You submit your invoices through our EFF360 app or client portal. Once the invoice is approved, we pay your carriers instantly and you receive your funds right away — just like traditional factoring. You get your full advance minus the factoring fee, with no waiting on shipper payments or cash flow delays.
Yes. You can offer Quick Pay to your carriers without tying up your own capital — and even offset your factoring costs by setting your own Quick Pay fee.
Factoring helps establish a strong payment history, improving your credit profile and making it easier for more carriers — and their factoring partners — to work with you confidently.
You’ll need to upload a copy of your driver’s license and certificate of insurance. Optional uploads include an aging report and a carrier payables report, which can help speed up setup.
If you complete the application promptly, we can approve and fund in as little as 24 hours.

DropPay

Anytime. Using the EFF360 App, clients can submit loads for payment anytime – during nights, weekends, and holidays.
Standard load documentation such as the rate confirmation and bill of lading are required for each load. These can be uploaded directly through the EFF360 App.
Loads can be submitted as soon as delivery is completed. Once submitted, payment is typically received within minutes.
Yes. If a fuel advance is selected, it will be made once the pickup has been completed.
Yes. You can set up drivers with a login to your EFF360 account, allowing them to upload load documents directly from their mobile device.
No. There are no cutoff times or deadlines. Loads are processed immediately upon submission, regardless of the time of day.

DRIVERPAY

DriverPay is Express Freight Finance’s integrated payment tool that gives carriers and drivers flexible, on-demand access to earned funds—24/7/365.
Once your load is delivered, verified, and paid to your account, DriverPay allows you to instantly send payments to drivers or staff, directly from your factoring account.
Anytime. DriverPay is available 24 hours a day, 7 days a week – including weekends and holidays.
No. DriverPay has no cutoff times. Payments are made in real time, whenever you choose.
No. DriverPay is included free for all Express Freight Finance factoring clients.
By ensuring your drivers get paid faster and more consistently. DriverPay offers the ability to send payments immediately at any time or schedule them, reducing financial stress for drivers, increasing their job satisfaction, and building trust – making them more likely to stay with your company long-term.
Absolutely. DriverPay uses secure payment infrastructure and account controls to ensure funds are transferred safely and reliably.

Buyouts

Most factoring companies have an early termination clause in their agreements if they are part of the IFA. We will evaluate your agreement for free to let you know what is needed. In some cases, we can assist with termination fees. For a free contract review, please email us your factoring agreement at onboarding@expressfreightfinance.com.

No, you will be able to continue factoring with your current company while we complete the buyout.

Simply complete our online application and someone from our team will be in touch in less than 24 hours.

No problem. Express Freight Finance can help you transition smoothly with a factoring buyout. We’ll work directly with your current factoring company to pay off your remaining balance and transfer your open receivables so you can make the switch without disrupting your cash flow or operations.

FUEL CARDS

A fuel card is a payment card designed specifically for trucking businesses to purchase diesel at discounted rates. It works like a credit or debit card but comes with added benefits such as fuel savings, spending controls, and detailed reporting to help manage fuel expenses.
Our fuel card program is available to carriers and owner-operators who work with Express Freight Finance. Whether you’re a small fleet or an independent driver, you can apply.
You can use our fuel card at thousands of locations nationwide, including major truck stop chains. The card is accepted at a wide network of fueling stations, offering flexibility and convenience wherever you go.
Our program offers significant per-gallon discounts, depending on the location and market conditions. These savings can add up fast and make a major impact on your bottom line.
Yes. In addition to fuel savings, our card provides access to discounts on truck maintenance, tires, and other over-the-road services through participating partners.
No credit approval is needed. We offer a no-credit-check option that ties into your factoring account with Express Freight Finance, making it easy to qualify and get started quickly.
Billing is typically handled on a weekly cycle, with clear and easy-to-track statements. If you factor with us, fuel costs can also be conveniently deducted from your settlements.

Lane Data

Lane data refers to pricing, volume, and performance information on specific freight routes between origins and destinations. It helps carriers and brokers understand market conditions, set competitive rates, and make informed decisions when bidding on or accepting loads.
Yes. MarketFit from Express Freight Finance provides access to up-to-date pricing trends on specific lanes, helping you benchmark rates, identify high-yield routes, and stay competitive in a shifting freight market.
By analyzing historical and real-time lane data, carriers can identify the most profitable routes, avoid underpriced lanes, and reduce deadhead miles. That leads to better planning, improved margins, and lower operating costs.
MarketFit lane data is updated regularly with current market activity to ensure you’re working with the most relevant and accurate insights. This allows you to make smarter, faster decisions in a dynamic freight environment.

Load Boards

A load board is an online marketplace where carriers and owner-operators can find available freight posted by shippers and brokers. It helps connect trucks with loads that need to be hauled, keeping your wheels moving and your business profitable.

Yes. Express Freight Finance partners with trusted load board providers to give our clients access to high-quality freight opportunities, helping you find loads faster and keep your trucks full.

We offer discounted or free access to select load boards as part of our factoring services. Depending on your account setup, you may qualify for waived or reduced fees.

Getting started is easy. Just speak with your Express Freight Finance representative, and they’ll walk you through the signup process and help you activate your load board access based on your account.

Didn't find the answer you were looking for?

Our team is here to help. If you still have questions about our services, products, or how Express Freight Finance can support your business, please don’t hesitate to reach out to us directly. We’re happy to answer your questions and help you find the right solution for your business.

New Clients: 877-697-0605
Existing Clients: 877-529-6029

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