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Factoring vs. Quick Pays - What Option is Better for Your Trucking Company?

Updated: Mar 16, 2020

Typically, in the truck driving industry, truck drivers must wait 30 to 90 days to get paid for a load they deliver if they are not signed on with a factoring company, or their client doesn't offer quick pays. Most companies cannot wait that long for a paycheck due to all their company's expenses. The top two options for trucking companies to speed up their cash flow is through factoring or quick pays, but both hold different benefits. So, which one is the best one for you?

Quick Pays

Quick pays are convenient for some, but there are limits to them as well. An advantage of quick pays is that the load you dispatch and the pay you collect comes from the same place - you don't need to go through third parties to get paid. The broker will advance the trucking company the funds of a dispatch for a fee and will usually pay within 1 to 7 days, which is a lot better than waiting 1 to 3 months for a payment. On the other hand, not all brokers offer quick pays. So, you have a limited pool of brokers that you would be able to work with if you are relying on quick paying loads.


There is a lot more benefits that come with factoring services. You can accept any freight jobs no matter if the broker offers quick pays or not - this allows you to choose the highest paying load of your choice. Some factoring companies, like us at Porter, will get you paid the SAME DAY - so you don't need to wait a week like some quick pays. Additionally, there are many other benefits that your company can get with factoring services. When you factor with Porter Billing Services you have access to fuel cards with discounts on fuel and tires, fuel advances on your loads, dispatching services, free credit checks, lowest rates on insurance, free collection services, and invoice preparation. Porter will also match quick pay fees so that factoring won't cost you extra!

What option is best for you?

Both quick pays and factoring services offer great benefits and choosing the one to use comes down to what is best for your trucking company. If you want to learn more about factoring, check out what Porter Billing Services has to offer!

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