As an owner-operator, everything rides on you. You find the loads, drive the miles, maintain the truck, pay for fuel, handle insurance — and then you wait. Sometimes 30 days. Sometimes 60. Sometimes 90. All while the bills keep coming.
Freight factoring changes that equation. Instead of waiting weeks or months for brokers to pay you, you submit your invoice to CHC Factoring and get cash in your account the same day. It's your money — you earned it on the road. We just help you get it faster.
Why Owner-Operators Use Factoring
When you're a one-truck operation, cash flow isn't just a business metric — it's survival. Here's why thousands of owner-operators factor their freight invoices:
Cover Fuel Costs Without Waiting for Payment
Fuel is your biggest expense. When you're waiting 30-90 days for a broker to pay, that's money you can't put in the tank. Factoring gives you same-day cash so you can fuel up and take the next load without worrying about your bank balance. We also offer fuel advances — money you can get before delivery to cover fuel costs for the current load.
Take More Loads
When cash is tight, you might have to pass on loads because you can't afford the fuel or the time away from loads that pay faster. With factoring, money isn't the bottleneck anymore. You can take the loads that pay best, not just the ones that pay fastest.
No Credit Score Required
Banks won't give you a loan if your credit isn't perfect. Factoring doesn't work like that. We look at your customers' credit — the brokers and shippers who owe you money. If they're creditworthy, you qualify. Your personal credit score, your time in business, your truck's age — none of that matters.
No Debt
Factoring isn't a loan. You're not borrowing money and paying it back with interest. You're selling an invoice — an asset you already earned — and getting cash for it. There's nothing to repay, no interest charges, no monthly payments.
Someone Else Handles Collections
Chasing down brokers for payment is time you're not driving. When you factor with CHC, we handle all the invoicing and collections. The broker pays us directly. You focus on the road.
What Makes CHC Different for Owner-Operators
Not all factoring companies are the same. Some bury you in fees, lock you into long contracts, or hold your money in reserves. Here's why owner-operators choose CHC:
- $0 reserve: Many factors hold 5-10% of each payment in escrow. We don't. You get the full advance minus the factoring fee.
- $0 startup: No application fees, no setup costs, no hidden charges. You apply and start factoring — that's it.
- No long-term contracts: We earn your business every day. You're not locked in.
- Rates from 2%: Competitive rates that keep more money in your pocket.
- Non-recourse: If a broker doesn't pay, that's on us. You keep your advance.
- Fuel advances: Need gas money before delivery? We've got you covered.
- Easy submissions: Send your BOL and invoice from your phone. Takes 2 minutes.
How It Works — Step by Step
- Deliver your load to the receiver, get your BOL signed.
- Submit the invoice + BOL to us — by phone, email, or our portal.
- We verify the load with the broker (usually a few hours).
- Same-day payment hits your bank account.
- We collect from the broker when the invoice is due. You're done.
New Authority? No Problem.
Just got your MC number? A lot of factoring companies won't work with new carriers. We're different. Whether you've been running for 10 years or 10 days, we can set you up. In fact, factoring is especially valuable for new owner-operators because it gives you cash flow stability from day one — which is when you need it most.
Switching from Another Factor?
If you're with a factoring company that's charging too much, holding reserves, or making your life difficult, we can help you switch. We'll look at your current agreement, explain your options, and make the transition painless. A lot of owner-operators don't realize they're overpaying or stuck with terms they don't need to accept.
Get in touch and we'll do a free review of your current contract.
Apply in 2 Minutes
There's no cost to apply, no credit check on you, and no obligation. Tell us your MC number and we'll give you a quote — usually the same day. If the numbers work for you, we can have you set up and factoring within 24 hours.