When you’re new and cash is tight, the clock between delivery and deposit can make or break your week. Two common ways carriers speed up payment are broker quick pay and freight factoring. Both unlock cash sooner, but they work differently, cost differently, and fit different situations. Here’s a straight-talk comparison so you can choose what’s best for your new operation.
What is broker quick pay?
Quick pay is a broker’s in-house early-payment option. After you deliver and submit a clean packet, the broker pays you sooner—often in 2–5 days—in exchange for a fee. Every broker sets its own rules: some charge a flat percent, others a tiered fee based on how fast you want the money. You still invoice the broker directly and you’ll have a different quick-pay arrangement with each broker you haul for.
Pros
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Simple if you only run for a few brokers
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No long-term agreement
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Keeps collections in one place (the same broker)
Cons
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Fees vary widely by broker
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You’ll manage multiple programs and timelines
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No help checking broker credit before you accept a load
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No advances for fuel or road cash
What is freight factoring?
With factoring, you sell your invoice to a factoring partner. They verify documents/credit and advance you most of the invoice value right away (often the same day the invoice is approved). When the broker pays later, your reserve is released minus the agreed fee. Quality factoring includes credit checks on brokers, tools to submit packets cleanly, and customer service that actually answers the phone.
Pros
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One consistent process and timeline for every broker
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Built-in credit checks before you book a load
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Fuel advances and same-day payouts available
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Digital Wallet and card options for 24/7 access to funds
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Portal/App tools to track status and reduce rejections
Cons
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You sign an agreement and should understand the term/fees
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You (or your factor) send a Notice of Assignment so brokers pay the factor
Cost comparison (the “real cost”)
A quick pay that looks cheap can be more expensive than a transparent factoring rate once you add in wires, lack of fuel discounts, or delays that cost you loads you can’t accept. On the flip side, a factoring offer with a low headline rate can creep up with add-on fees if you’re not careful. Always compare total cost to cash for your mix of invoices, payment method, and timing.
Pro move: ask any provider to show your net deposit on a $2,500 and $4,000 invoice under three scenarios—ACH vs. wire, advance vs. no advance, same-day vs. next-day. If they can’t lay that out clearly, move on.
When to use quick pay vs. factoring
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You mostly run for one broker who offers a great quick pay: Quick pay might be fine, especially if you’re doing steady contracted freight.
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You run spot and mix brokers every week: Factoring wins. One workflow. One timeline. Credit checks before you haul.
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You need fuel advances or same-day payouts: That’s factoring—quick pay typically won’t help before delivery.
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You want the cash on nights/weekends: Pair factoring with the Digital Wallet for 24/7 availability—no bank hours, no waiting on wires.
Workflow: how to eliminate pay delays
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Check broker credit before you accept the load.
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Capture a clean POD and any lumper/TONU docs the moment you get them (TP’s Mobile App helps avoid rejections).
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Submit the invoice packet in the Client Portal—no missing pages, no blurry photos.
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Choose your payout method. Want fastest? Use Digital Wallet and move funds instantly to your bank or fuel card.
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Track status and aging in the portal so you always know what’s paid and what’s pending.
Bottom line: If you’re just starting out and switching brokers often, factoring gives you speed, consistency, and control that quick pay can’t match. If you’re steady with one broker who has a strong quick-pay rate, keep it in the toolkit—but don’t skip credit checks and don’t leave money on the table.
Ready to see same-day cash with one simple process? Get started with Trucking Partners.
Explore the tools first: Client Portal • Mobile App • Digital Wallet.