Launching your trucking company is a rush—authority approved, first loads booked, wheels finally turning. Then reality hits: most brokers pay in 30–45 days and your fuel bill is due now. Factoring bridges that gap, turning invoices into fast cash so you can keep rolling. Here’s a practical, step-by-step checklist to get from “new authority” to “first funded invoice” without stalls.
Step 1: Prep the simple paperwork (one afternoon)
Create a folder (physical or digital) with:
- MC/DOT authority and insurance certificate
- W-9 and voided check (or bank letter)
- Owner’s driver license
- Articles/operating agreement (if LLC/Corp)
If you don’t have a dedicated business account yet, open one—it keeps books clean and speeds approvals later.
Step 2: Choose a factoring model that matches your first year
You’ll see two common options:
- Recourse (lower cost): you agree to replace or buy back an invoice if the debtor doesn’t pay within a defined window. With solid broker credit checks, many startups prefer this to keep rates lean.
- Non-recourse (more coverage): typically protects you if a debtor goes insolvent (details vary). It doesn’t cover paperwork disputes, so clean documents still matter.
If you’re unsure, ask for both quotes and compare the total cost to cash for your expected invoice size.
Step 3: Build the “perfect packet”
Most delays come from missing or messy paperwork. Standardize:
- Rate confirmation (final version)
- BOL & signed POD (legible, all pages)
- Lumper/TONU approvals, if any
- Invoice (consistent naming:
Broker_Load#_Date.pdf)
Capture documents the moment you get them with the Mobile App so nothing goes missing or blurry.
Step 4: Submit the right way—no email guessing
Upload your first packet in the Client Portal. The portal keeps page order tidy, flags missing items, and shows status so you’re not refreshing an inbox. Make this your one, repeatable workflow for every load.
Step 5: Decide how you want the cash
Payout method changes real-world speed and cost:
- Digital Wallet → instant access when approved, including nights/weekends. Push to your bank or use the card at the pump.
- ACH → inexpensive but usually next business day.
- Wire → fastest through banks, but pricier and subject to cut-off times.
For new carriers who need money now, wallet + portal is the least drama.
Step 6: Run credit checks before you accept a load
“Cash fast” only works if the debtor is worth trusting. Use broker credit checks in your portal before you book freight—especially in your first 90 days.
Step 7: Submit, track, repeat
After delivery, snap the POD in the app, upload the packet in the portal, and watch the status. Fix any flags immediately so your approval stays same-day.
First-week playbook
- Book only brokers that pass credit.
- Deliver → capture POD in the app.
- Submit in the portal.
- Choose Digital Wallet and fuel up.
- Review your aging every Monday.
Further reading: “Top 5 Myths About Freight Factoring (New-Carrier Edition)” and “Freight Factoring Rates, Explained.”
CTA: Ready to factor your first load? Get Started. Want to see the workflow first? Explore the Client Portal and Mobile App, then activate your Digital Wallet for instant payouts.