8 Best Factoring Companies in Canada for Trucking (2025 Guide)

More than 75% of carriers partner with factoring companies to manage their cash flow - and with good reason too.

Trucking companies typically wait 30-90 days after delivering loads to receive payment, which creates serious cash flow challenges. Canadian factoring companies provide a solution by releasing funds within 24 hours after approval with advance rates up to 95%.

This piece covers the 8 best factoring companies in Canada for trucking. These local factoring partners provide quick service and tailored support that aligns with the Canadian economic environment. The guide helps both small fleet operators and large transportation business managers.

FundThrough

_{Image Source: FundThrough}

FundThrough has emerged as Canada's premier factoring company that has funded more than 100,000 invoices worth over CAD 1.39 billion to small business clients ^[1].

FundThrough's Trucking Industry Solutions

FundThrough serves as a specialized freight bill factoring service that advances up to 100% of invoice values ^[2]. Business sales strength determines funding facilities that range from CAD 20,900 to over CAD 2.79 million ^[1]. The platform also enables Canadian businesses to fund invoices from U.S. customers through cross-border factoring capabilities ^[3].

FundThrough's Digital Platform

The company's technology-driven approach stands out through these features:

• QuickBooks and OpenInvoice integrations for automated invoice pulling

• AI-powered automation to create efficient processing

• Bank-grade 256-bit encryption for data security

• Next-day funding capabilities upon approval ^[4]

The platform lets businesses choose specific invoices for funding without minimum requirements or long-term contracts ^[3]. FundThrough believes in complete transparency with its pricing structure, so clients know their rates before factoring any invoice ^[5].

FundThrough's Customer Support

A dedicated client success team provides individual attention throughout the funding process ^[1]. Each client works with their own account manager who offers customized support through phone or online communication ^[1]. The team shows its steadfast dedication to expandable solutions by helping clients find alternative payment arrangements when needed ^[1].

Riviera Finance

_{Image Source: www.rivierafinance.com}

Riviera Finance has shown remarkable success in the Canadian trucking industry since 1969 ^[6]. The company remains under its original ownership and stands as a trusted name in transportation factoring ^[6].

Riviera Finance's Industry Experience

Riviera Finance brings over five decades of expertise to various segments of the trucking industry. Their portfolio has dry van, intermodal, flatbed, refrigerated, dump truck, and auto-hauling operations ^[6]. These years of experience have helped them create specialized solutions that work for both owner-operators and fleet managers ^[7].

Riviera Finance's Service Features

Riviera Finance gives up to 95% cash advances through their non-recourse freight factoring ^[7]. Their service package has:

• Credit checks on customers

• Complete collection services

• 24-hour funding upon verification

• Customized management reports

• Dedicated account team support ^[7]

The company takes on all credit risk for factored invoices ^[8] and lets clients choose which invoices to factor ^[9]. They keep competitive rates without hidden fees throughout their operations ^[7].

Riviera Finance's Geographic Coverage

Riviera Finance's strategically placed offices across Canada provide personalized service ^[10]. Their Mississauga office serves as the Eastern Canada hub for Ontario, Manitoba, and Toronto regions ^[8]. The Calgary office handles Western Canada operations in Saskatchewan, Alberta, British Columbia, Yukon, Nunavut, and Northwest Territories ^[10]. Quebec, Nova Scotia, New Brunswick, Prince Edward Island, Newfoundland, and Labrador get their services through the Montreal office ^[10].

The company now serves more than 2,000 clients while keeping an excellent credit rating and diverse capital base ^[10]. Their network of 25 offices across North America gives Canadian trucking businesses reliable support whenever they need it ^[11].

1st Commercial Credit

_{Image Source: 1st Commercial Credit}

1st Commercial Credit, a 22-year-old company, has grown throughout Canada and runs its specialized factoring operations from its Toronto office ^[6]. The company expanded its services to Quebec businesses ^[6].

1st Commercial Credit's Factoring Solutions

The company maintains competitive rates ranging from 0.69% to 1.59% per 30 days ^[6] and can fund between CAD 13,933.60 and CAD 13.93M ^[6]. Their non-recourse factoring program advances up to 98% of invoice value ^[5].

The company's financial solutions has:

• Supply chain financing with no upfront fees

• Asset-based lending for seasoned companies

• Purchase order financing to grow

• Trade payable financing options ^[5]

1st Commercial Credit's Application Process

MyBizPad, the company's proprietary software platform, makes approvals faster ^[12]. New accounts receive funding in 3-5 business days during setup ^[2]. The platform's Mobile Imaging Module lets drivers upload bills of lading from their devices ^[12].

The company bases its decisions on the invoicing process and account debtor credit strength instead of traditional financial metrics ^[2]. A straightforward evaluation process needs minimal documentation compared to conventional lenders ^[2].

1st Commercial Credit's Industry Focus

1st Commercial Credit serves telecom, construction, distribution, and manufacturing sectors with an A+ BBB rating and over 20 years of experience ^[13]. The company has helped more than 3,600 clients ^[14], showing its steadfast dedication to businesses of all types.

Their specialized trucking division provides detailed solutions for transportation needs ^[2]. The company uses automated notice assignments and specialized vendor payable letters of credit ^[5] to address unique challenges in the trucking sector.

eCapital

_{Image Source: eCapital}

eCapital brings 17+ years of dedicated service to the transportation industry ^[4]. The company blends financial expertise with innovative technology to help trucking companies across Canada.

eCapital's Specialized Programs

Trucking industry owners and financial experts founded eCapital ^[4], which now offers both recourse and non-recourse factoring packages ^[1]. A team of 600+ experts powers the company's asset evaluation, batch processing, and fintech solutions ^[15]. Their quick funding model helps trucking companies get immediate working capital through rapid approvals ^[16].

eCapital's Technology Integration

The revolutionary client portal, eCapital Connect ^[1], makes the company's technological infrastructure stand out. This platform naturally blends with Port TMS, letting clients:

• Track and assign loads quickly

• Push payments directly to accounting programs

• See transactions in real time

• Create comprehensive reporting analytics ^[17]

The company's modern Factoring API connects quickly with various applications. Custom development solutions boost platform functionality ^[18].

eCapital's Service Benefits

The InstaPay feature transfers money to bank accounts in split seconds, even during holidays and weekends ^[1]. Clients can use eCapital Visa® Commercial Cards to access funds at ATMs and send money to drivers 24/7 ^[1].

The platform's flexibility shows in its Revolving Line of Credit (RLOC), which works as overdraft protection ^[19]. Automated processes give uninterrupted funding while maintaining complete control over cash management ^[19]. Bank-grade security protocols protect the system, which provides clear tracking of transactions, balances, and credit limits ^[19].

JD Factors

_{Image Source: www.jdfactors.com}

JD Factors has been a premier transportation factoring provider in Canada for over 30 years with operations across North America ^[20].

JD Factors' Trucking Expertise

JD Factors runs specialized freight bill factoring services from offices in Calgary, Alberta; Mississauga, Ontario; and Pointe-Claire, Quebec ^[6]. The company's deep understanding of transportation industry challenges helps them create tailor-made factoring programs ^[20]. Their expertise goes beyond simple financing, and they work closely with businesses to understand their unique requirements and growth objectives ^[20].

JD Factors' Service Options

The company's non-recourse factoring program features several standout benefits:

• 24-hour funding upon invoice submission ^[3]

• Complete credit risk assumption ^[21]

• Flexible invoice selection system ^[3]

• Transparent pricing structure ^[3]

• Customizable program terms ^[3]

JD Factors' state-of-the-art online account management system, ClientNet, lets trucking companies generate invoices, submit documentation, and conduct unlimited credit checks at any time ^[21].

JD Factors' Client Benefits

JD Factors helps trucking businesses keep steady cash flow for essential operations. Their guaranteed fuel program acceptance saves money at the pump ^[22]. Clients get fuel advances and round-the-clock access to credit checks ^[22].

The company's steadfast dedication to client success has produced remarkable results. One client grew their fleet from 5 trucks to more than 300 vehicles with JD Factors' financial support ^[20]. Their team handles all collection responsibilities so trucking companies can focus on core business operations ^[20].

The setup process takes just days to complete ^[3]. New clients get immediate access to working capital without additional debt ^[6]. This approach works especially well when freight brokers face driver recruitment challenges due to limited credit history ^[22].

Express Business Funding

_{Image Source: ebf.ca}

Express Business Funding has made its mark in the Canadian alternative finance industry from its Burlington, Ontario headquarters. The company's twenty years of service speak volumes about its expertise ^[6].

Express Business Funding's Fast Processing

The company's DropPay system makes instant payment processing possible right after load delivery ^[23]. This revolutionary platform runs 24/7 and ended up removing transaction fees and traditional cutoff times ^[23]. The DriverPay feature gives trucking companies instant access to their funds, making it different from standard factoring services ^[23].

Express Business Funding's Eligibility Criteria

The company provides funding from CAD 487,680 to CAD 10.45 million ^[6]. Its recourse and non-recourse programs work for fleets of all sizes - from single-truck operators to large transportation companies ^[24]. The company offers advance rates up to 95%, with full advance options based on industry segment and credit risk assessment ^[24].

Express Business Funding's Value-Added Services

Express Business Funding boosts its core services through:

• A rich education hub for alternative financing solutions ^[9]

• Tailored financial solutions that match each client's needs ^[11]

• Clear fee structures from 1.5% to 4% based on factoring volume ^[24]

• Dedicated account managers who give personal support ^[11]

The company goes beyond simple factoring services. The core team keeps communication channels open and delivers turnkey solutions backed by nearly a century of combined industry experience ^[11]. They provide detailed support to sectors of all types, including staffing, construction, manufacturing, and telecommunications ^[6].

Express Business Funding builds long-term partnerships through transparent operations and clear fee structures ^[11]. The adaptable team works with clients to understand their specific needs and deliver smooth financial solutions ^[9]. Both experienced businesses and newcomers to alternative financing benefit from the company's education-focused approach to make smart decisions ^[9].

Accord Financial Corp

_{Image Source: Accord Financial}

Accord Financial stands as a key player in Canada's financial services sector, trading on the Toronto Stock Exchange (ACD). The company is 45 years old and has helped businesses worldwide secure over CAD 13.93 billion in financing ^[25]. Since 2021, more than 1,500 small businesses in Canada have received CAD 348.34 million in lending support ^[6]. The company runs three strategic offices in Montreal, Quebec; Vancouver, British Columbia; and Toronto, Ontario ^[6].

Accord Financial's Market Position

The AccordExpress Factoring service advances up to 90% of invoice face value ^[8]. Their core services include:

• Facilities ranging from CAD 696,680 to CAD 2.79 million ^[10]

• Money in your account within 10 business days ^[10]

• Zero financial covenants or setup fees ^[10]

• Credit lines up to CAD 500,000 for qualified inventory needs ^[10]

• Single debtor factoring options ^[10]

Accord Financial's Service Features

The company knows the unique challenges faced by the transportation industry and provides tailored freight factoring solutions at competitive rates ^[26]. Their asset-based financial services are comprehensive and cover factoring, lease financing, working capital financing, credit protection, and supply chain financing ^[27].

Accord Financial's Client Resources

We focused on helping clients succeed with a proprietary credit model that enables quick approvals and funding within two business days ^[7]. Their online platform gives immediate access to account information and transparent transaction tracking ^[10]. The company's expert team brings deep industry knowledge and quick, flexible fund access ^[10].

Businesses can complete the simple AccordExpress program application online in just twenty minutes ^[7]. All the same, qualified companies needing larger amounts can access up to CAD 8.71 million after a detailed credit review ^[7]. The company stays committed to supporting businesses with growth and liquidity needs—beyond just profitable opportunities ^[28].

REV Capital

_{Image Source: REV Capital}

REV Capital stands among North America's rapidly expanding financial factoring companies. The company manages a substantial portfolio and set up a CAD 20.90 million factoring facility for a major transportation company in Ontario ^[29].

REV Capital's Industry Solutions

REV Capital focuses on mid to large-sized transportation companies and provides flexible funding solutions with monthly volumes up to CAD 13.93 million ^[30]. The company shifted its focus to larger Canadian transportation enterprises and shows steadfast dedication to serving fleet operators with established operations ^[31].

Their service package has:

• Invoice management and credit underwriting

• Collection services with transparent tracking

• No startup fees or monthly minimums

• Cross-border payment processing

• Fuel discount programs ^[32]

REV Capital's Technology Platform

REV Capital's digital infrastructure sets new industry standards through their own online platform. The system gives clients complete visibility into every transaction. Users can:

• Track receivable closures

• Monitor non-funded payments

• Access invoice-specific cost breakdowns ^[32]

The platform uses bank-grade 256-bit encryption to ensure secure data transmission in all transactions ^[2]. REV Capital started a mission to reinvent factoring by investing in innovative solutions, showing their dedication to technological advancement ^[2].

REV Capital's Support Services

REV Capital assigns dedicated Client Relationship Managers to each account, recognizing the value of individual attention ^[12]. These professionals work beyond standard business hours to help optimize time and costs ^[12].

The company runs five regional offices across Canada and the United States ^[2] with over 100 industry professionals ^[2]. Their support goes beyond simple factoring services. They provide complete solutions for various business challenges, from seasonal fluctuations to rapid growth needs ^[33].

REV Capital shows its dedication to client success through transparent operations and flexible funding. Their recent strategic shift to the Canadian market proves their commitment to delivering specialized solutions for growing trucking companies ^[31].

Comparison Table

Conclusion

Canadian trucking companies don't deal very well with cash flow challenges, but eight factoring companies provide tailored solutions for the transportation industry. These providers come with their own strengths - FundThrough gives 100% advance rates, Riviera Finance brings fifty years of experience, and REV Capital offers substantial funding capacity.

The core team at these companies shows steadfast dedication to their clients' success through personalized support, tech platforms, and flexible funding choices. They offer specialized services that tackle essential needs like fuel programs, collection management, and cross-border payments.

Trucking companies need to review their needs against what each provider brings to the table. To cite an instance, see important aspects like advance rates, funding ranges, tech integration features, and coverage area before choosing a factoring partner.

A partnership with the right factoring company helps trucking businesses keep their cash flow steady. This allows them to stimulate growth and thrive in Canada's competitive transportation market. These eight providers are trusted choices for carriers who need reliable financial backing and industry knowledge.

FAQs

Q1. What are the top factoring companies for trucking businesses in Canada?
Some of the best factoring companies for trucking in Canada include FundThrough, Riviera Finance, 1st Commercial Credit, eCapital, JD Factors, Express Business Funding, Accord Financial, and REV Capital. Each offers unique features tailored to the trucking industry's needs.

Q2. What should I consider when choosing a factoring company for my trucking business?
When selecting a factoring company, consider factors such as advance rates, funding ranges, technology integration capabilities, geographic coverage, additional services like fuel programs, and the level of personalized support offered. It's important to evaluate your specific business needs against each provider's offerings.

Q3. How quickly can I receive funding from a trucking factoring company?
Many factoring companies offer rapid funding options. For instance, some providers like FundThrough and Riviera Finance offer next-day or 24-hour funding upon approval. The exact timeframe can vary depending on the company and your specific circumstances.

Q4. Are there any risks associated with using factoring services for my trucking company?
While factoring can provide significant benefits, it's important to understand the terms of your agreement. Some potential considerations include fees, recourse vs. non-recourse factoring, and any contractual obligations. However, reputable factoring companies work to minimize risks and provide transparent terms.

Q5. What additional services do trucking factoring companies typically offer?
Beyond basic invoice factoring, many companies offer value-added services such as fuel discount programs, credit checks on customers, collection services, online account management platforms, and dedicated support teams. Some also provide cross-border payment processing and supply chain financing options.

References

[1] - https://ecapital.com/en-ca/products/freight-factoring/
[2] - https://www.inc.com/profile/rev-capital
[3] - https://www.jdfactors.com/
[4] - https://ecapital.com/en-ca/transportation/
[5] - https://www.cfotechoutlook.com/1st-commercial-credit
[6] - https://www.fundthrough.com/blog/invoice-factoring/factoring-companies-in-canada-8-options-for-business-funding/
[7] - https://www.newswire.ca/news-releases/accord-financial-corp-announces-the-relaunch-of-accordexpress-providing-financial-support-for-canadian-entrepreneurs-throughout-the-export-supply-chain-882853842.html
[8] - https://accordfinancial.com/services/factoring/
[9] - https://ebf.ca/
[10] - https://accordfinancial.com/services-accordexpress-factoring/
[11] - https://factoringclub.com/factoring-company/express-business-funding/
[12] - https://revinc.com/
[13] - https://www.factoringcompanies.ca/top-factoring-companies-in-canada/
[14] - https://www.1stcommercialcredit.com/blog/how-to-get-truck-and-equipment-financing
[15] - https://ecapital.com/en-ca/blog/freight-invoice-factoring-101/
[16] - https://ecapital.com/en-ca/transportation/fleets/
[17] - https://ecapital.com/en-ca/news/ecapital-partners-with-port-tms-to-integrate-tms-into-client-portal/
[18] - https://ecapital.com/en-ca/partners/technology/
[19] - https://ecapital.com/en-ca/blog/strengthen-your-trucking-companys-financial-position-with-a-revolving-line-of-credit/
[20] - https://desitrucking.com/j-d-factors-celebrates-30-years-of-factoring-in-canada/
[21] - https://factoringclub.com/factoring-company/jd-factors-canada/
[22] - https://www.jdfactors.com/Trucking_Transportation.aspx
[23] - https://expressfreightfinance.com/
[24] - https://expressfreightfinance.com/funding-guidelines/
[25] - https://www.invensis.net/blog/top-factoring-companies-in-canada
[26] - https://accordfinancial.com/latest/2021/06/factoring-is-a-great-option-for-the-transportation-industry/
[27] - https://www.theglobeandmail.com/investing/markets/stocks/ACD-T/pressreleases/30341795/accord-financial-top-10-undervalued-financial-services-sector-stocks-on-tsx-acd/
[28] - https://accordfinancial.com/services/equipment-financing/
[29] - https://www.abfjournal.com/rev-capital-provides-15mm-facility-to-canadian-transportation-client/
[30] - https://revinc.com/invoice-factoring
[31] - https://revinc.com/newsroom/rev-capital-shifts-focus-toward-financing-larger-transportation-clients-north-of-the-border
[32] - https://factoringclub.com/factoring-company/rev-capital/
[33] - https://revinc.com/invoice-factoring/transportation