• Tread Talk

Factoring or Quick Pays: What Should You Use?

Updated: Sep 14, 2020

Consistent cash flow is a necessity for a successful career in the trucking industry. Without any financial aid, truck drivers can wait anywhere from 30, 60 or 90 days to get paid on a load. This is why so many trucking companies are using freight factoring and quick pays. However, there are still many truck drivers out there who aren't sure which one they should use, so we are here to help clear some things up.

Quick Pays

When using quick pays, the pay comes from the broker you hauled the load for. Which means, if you use multiple different brokers, your pay will come from multiple different places. You don't need to go through a third party to get paid - it is just between you and the broker. The pay time of a quick pay is typically between 1 to 7 days; however, some brokers offer various pay terms for different rates. On the down side, not all brokers offer quick pays. This limits your pool of brokers that you can work with if that is how you reply on getting paid. Some drivers get in to the position where they have to turn down the highest paying load because that broker doesn't offer a quick pay and they can't wait to get paid.


When you work with a factoring company, all your payments come from a centralized location. You can work with as many different brokers as you want (providing they pass your factor's credit check) and all your payments will still come from your factoring company, rather than from all the different brokers you run with. Your factor will pay you the same day you send your bills in, every time. When you work with a factoring company, you can run the highest paying load you find, unlike if you were replying on quick pays.

What should you use?

That decision solely comes down to your personal preference and situation. In the transportation industry, especially nowadays, working with a factoring company offers preventative maintenance. Regardless of the situation, you will always get paid on time without having to worry about if the broker offers a quick pay or not.

Factoring and quick pays both offer faster payment terms and good rates. But, when you work with a factoring company you also have ease. The ease of knowing you will get paid on time, at a good rate, every time, from one place. You also have the ease of knowing the factor will make all collection calls, giving you one less thing to worry about.

So, if you're stuck between what you want to use, think about that - it is easier to work with a factoring company overall.

And if rate is something you're worried about, Porter matches your quick pay rate.

Other benefits you get with Porter:

  • Same day pay, every time

  • FREE credit check on brokers

  • FREE fuel card

  • Access to 250+ broker database

  • Freight finding, compliance, insurance, and equipment financing help

  • plus much more

For more information about factoring vs. quick pays download our FREE guide here.

For more information, leave us your information or give us a call today!

(205) 397-0934

27 views0 comments