This question is about truck driver certifications.

What is a factoring company in trucking?

By Zippia Team - Dec. 9, 2022

In trucking, a factory company is a company that buys a trucker's unpaid invoices in return for a factoring fee which is deducted once the full payment has been collected from the customer. A factoring company is a middleman between the customer and the trucker in taking and paying invoices.

This process makes it easier and quicker for truckers to receive service payments. Factoring companies deal with the invoice payment process and collection. In return, truckers pay a small percentage of whatever their trucking company owes them.

What is a factoring company in trucking?

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