Freight factoring · New York
Get paid before the trailer is empty.
Brokers can take 30 to 60 days to pay. We advance cash on your delivered loads so fuel, driver pay and repairs are covered on time instead of on your customer’s terms.
You see your rate before you sign. One clear fee per invoice, with no surprise charges added later.
What is factoring?Working with
MyFactor works with Bridgestone, Multi Service Fuel Card, a member of the Shell Group, Penske, TACH, Tank Payments.
What we fund
Factoring built around how freight actually gets paid
Running a trucking company means paying for fuel, insurance, repairs and drivers every week, while brokers and shippers can take 30 to 60 days to pay.
MF-01Freight factoring
We advance cash on your delivered loads once you submit the rate confirmation and a signed POD, so fuel, driver pay and repairs are covered on time instead of on your customer’s terms.
MF-02Carrier factoring
Built for owner-operators and growing fleets, including new authorities. Funding is set up around your lanes, your broker mix and your weekly expenses rather than a standard package.
MF-03Broker factoring
Funding for freight brokers who have to pay carriers quickly while waiting on shippers to pay them.
MF-04Invoice and payroll factoring
The same funding against receivables outside of freight: construction, staffing, healthcare and general receivables, including payroll factoring for businesses that meet payroll before customers pay.
MF-05Fuel card and real-time payments
The MyFactor Fuel Card, with $0 annual fees and spending controls from your phone, and Real Time Payments that send approved funds to your bank account in seconds, any day of the year.
MF-06Instant credit checks
Check a broker or shipper’s creditworthiness before you take the load, from the app. Knowing who pays slowly before you commit a truck is worth more than the funding.
MF-07MyFactor technology
MyFactor TMS, Portal and Wallet: create and dispatch loads, send a delivered load for funding in one click, and check the status of every invoice in real time from your computer or phone.
MF-08Commercial banking for truckers
Banking built for a trucking business rather than adapted from a retail account.
One account. Every tool.
Factoring is where it starts.
When you factor with MyFactor you also get the MyFactor App, a free year of MyFactor TMS, free broker credit checks, Real Time Payments, the MyFactor Wallet and access to the fuel card and business banking. One login, one account team.
MyFactor technology
MyFactor Express App
- Upload invoices from your computer or phone
- Track every invoice from submitted to funded
- Credit checks on brokers before you accept a load
- One click to send a delivered load for funding
Delivered load · invoice #—
MyFactor Fuel Card
Use the arrow keys to tilt the card, Escape to level it.
Powered by Multi-Service Fuel Cards
Save at the pump. Stay in control.
Fuel is the biggest expense for most trucking companies, and it hits before your broker pays. The MyFactor Fuel Card helps carriers save on fuel at truck stops across the country and keep spending under control: set limits for each driver, restrict purchases to fuel and approved items, and track every transaction in real time from your phone.
- $0 annual card fees
- Discounts at truck stops nationwide
- Limits per driver or per truck
- Every purchase tracked in real time
Free estimator
What is the wait actually costing you?
Put in your own numbers. Nothing is assumed on your behalf, including the rate — use the one you were quoted.
How it works
Four steps from first call to funded
The process we run on every new account, written out so you know what is being asked of you before you call.
- 01
Discovery call
We talk about your lanes, the brokers you haul for and what your week actually costs, and you get your rate before anything is signed.
- 02
Account setup
We set the account up against your MC and DOT documentation. This is the step that needs paperwork from you, and having it ready is what makes the rest fast.
- 03
Submit the invoice
Send the rate confirmation and the signed POD through the portal or the mobile app.
- 04
You get funded
Approved funds go to your bank account in seconds with Real Time Payments, or straight to your MyFactor Wallet, and we take over collections with the broker so you are not the one chasing payment.
Working with us
Freight money, run by freight people
MyFactor LLC funds trucking companies, brokers and growing businesses out of New York City. We advance cash against delivered loads and unpaid invoices, we take the collections work off your desk, and we build the technology around it.
Founding team
- Braj Aggarwal, CPAFounder & CFO
- Sid JainFounder & CIO
- Renee WilliamsAdvisory Board Member
- Vivek MallaOperations & Credit Risk Analyst
We chase the broker, not you
Collections move to us when we fund the invoice. That is the part that gives owner-operators their week back.
People who know load paperwork
Your account is managed by people who know trucking, brokers and rate confirmations, rather than by a general finance desk that has to ask what a POD is.
New authorities welcome
Factoring is underwritten on whether the brokers you haul for pay their bills, not on how long your MC number has existed.
Client stories
What clients say
Working with MyFactor LLC transformed cash flow for Architectural Sign Group Inc. Their fast funding allowed us to purchase materials upfront and take on larger commercial sign projects. We eliminated delays from unpaid client invoices and scaled our operations seamlessly.
MyFactor has been a reliable financial partner for our business. Their funding process is fast, transparent, and dependable, helping us maintain steady cash flow and focus on growing our operations. The team is always responsive and goes the extra mile to support our needs. We highly recommend MyFactor to any transportation company looking for a trustworthy factoring partner.
Why MyFactor TMS
From dispatch to deposit without the paperwork
Built by a factoring team that works with truckers every day, MyFactor TMS is designed around how small fleets and owner-operators actually run their business, so you spend less time in the office and more time on the road.
- 1 loginLoads, documents, and invoices in one place
- 1 clickSend delivered loads for funding
FAQ
Questions we get asked
What is factoring?
Factoring is a simple way for businesses to get cash from their unpaid invoices. Instead of waiting 30, 60, or 90 days for a customer to pay, you sell the invoice to a factoring company like MyFactor LLC. We advance most of the invoice value to you right away, collect payment from your customer, and send you the remaining balance minus a small fee. It’s not a loan, so there’s no debt to repay.
Is factoring a loan?
No. A bank loan is based on your credit and adds debt to your balance sheet. Factoring is different. You’re selling an invoice you’ve already earned, and approval depends mainly on how reliably your customers pay. That’s why factoring works well for new businesses, growing companies, and anyone who can’t wait on slow payments.
How does factoring work with MyFactor?
You deliver the load or complete the work and send us the invoice. We verify it and advance most of the invoice value to your account. When your customer pays us, we send you the remaining balance, minus our fee.
Is there a long-term contract?
No.
How fast do I get paid?
Once an invoice is approved, funds go to your bank in seconds through Real Time Payments, or straight to your MyFactor Wallet.
What do I need to open an account?
Carriers: MC/DOT authority, certificate of insurance and a W-9. Brokers: broker authority, surety bond details and an A/R aging report. Other businesses: basic business documents and an A/R aging report.
Who does MyFactor fund?
Transportation — owner-operators, fleets, and carriers waiting on broker payments. Freight brokers — brokerages paying carriers fast while shippers pay on terms. Staffing — agencies covering weekly payroll while clients pay monthly. Construction — contractors funding invoices and approved change orders. Healthcare — clinics, home health, medical staffing and labs waiting on insurance payers. Manufacturing — manufacturers funding the next production run while customers pay on terms. Wholesale and distribution — distributors freeing up cash to reorder before customers pay. Oilfield services — hauling, equipment rental, well services and field crews waiting on operators to pay. Security services — guard, patrol, event security and alarm companies with weekly payroll. Janitorial and facilities — cleaning, facility maintenance and landscaping companies with weekly payroll. Food and beverage — distributors, caterers, co-packers and specialty food producers.
Ask what your rate would be
Tell us your lanes and who you haul for, and you will get your rate before you sign anything.