Freight Factoring vs. Quick Pay: Which is the best fit for you?

Freight Factoring vs. Quick Pay: Which is the best fit for you?

Love's Financial vs. Quick Pay

Every business owner knows cash flow is important for growth. With the standard payment time being 30 to 90 days in the trucking industry, drivers need a reliable way to keep their businesses running. Thankfully, financial services like freight factoring and quick-pay are available to help. Both services provide options to help drivers generate cash flow, but it's up to the driver to decide which is the best fit for them and their business. Read below to see why the benefits of freight factoring outweigh the convenience of quick-pay.

Payment Time

Quick-pay: Quick-pay payment times can often vary depending on the broker you partner with. It can take them one to five days.

Freight Factoring: Freight factoring is well known for its next-day payment service; some even offer same-day payments.


Load Availability

Quick-pay: Not every broker offers a quick-pay option. If you need cash flow and can't wait 30 or more days for payment, you might be limited in which brokers you can haul for.

Freight Factoring: Freight factoring is a third-party funding source which gives you the freedom to shop higher-paying loads from almost any broker while maintaining access to next-day cash.


Quick-pay: Brokers that provide a quick-pay option will typically have varying funding methods. This leaves you with excessive fees and extra work to manage a variety of payments.

Freight Factoring: With freight factoring, payments come from a single company, giving you one consistent source to manage. In addition to one payment source, each business has a personal account representative to deliver unmatched customer service and help manage your invoices.


Quick-pay: The primary benefit of quick-pay is getting paid before the traditional 30 to 60 days.

Freight Factoring: Freight factoring can come with a lot of benefits if you partner with the right company. Most factoring companies provide back-office support, a dedicated account representative for your company and next-day payments.

The Bottom Line

If freight factoring is a good fit for your company, call Love's Financial today at 1-855-495-5683 to learn about benefits, such as fuel discounts, $2,500 credit limit card, roadside assistance and more!