Get better factoring rates with SmartPay. As low as 1.5%.
With same day funding, industry-leading rates, and no annual contracts or cancellation fees, SmartPay enables fleets to improve their cash flow, increase profitability, and grow their business.
Get faster and more affordable factoring
Truck factoring done better.
Access the most flexible factoring program on the market, while saving money on rates and fees.
Rates as low as 1.5%
Industry-leading factoring rates ensure you keep more of what you earn.
Same day funding
Access funds faster to accelerate cash flow, pay drivers, and cover business expenses.
Lower transfer fees
Get free ACH transfers and same-day transfers up to 67% lower than other factoring companies.
Flexible plans that meet your business needs.
Access the best rates and lowest fees when you sign up with SmartHop Professional. Get the same great service, including professional collections on your behalf and time saved on back office work with both our plans.
| With SmartPay | ||||
|---|---|---|---|---|
| Other Factoring Companies | Factoring Only | With SmartHop Basic | With SmartHop Professional | |
| Factoring rates | 3-5% | 2.5% | 2% | 1.5% |
| Same-day transfer fees | $30 | $20 | $15 | $10 |
| ACH transfer fees | $10 | $1 | $0.50 | FREE |
| Fastest funding speed | 2 days | Same day | Same day | Same day |
| No reserves or minimums | No | Yes | Yes | Yes |
| No annual contracts | No | Yes | Yes | Yes |
| No cancellation fees | No | Yes | Yes | Yes |
| Start today | Start today | Start today | ||
See the other benefits of SmartHop’s all-in-one platform.
Frequently asked questions
What is factoring, and how does it work?
Factoring is a financial solution that allows you to sell your unpaid invoices to a third-party company (the factor) for immediate cash. The factor advances a portion of the invoice amount to you and collects the full invoice amount from your customers when due.
What are the key benefits of SmartPay’s factoring program?
The key benefits of SmartPay include competitive rates (as low as 1.5%), same-day funding, reduced transfer fees, no annual contracts, no cancellation fees, and professional collections. It's designed to improve cash flow, increase profitability, and save you time.
How much does SmartPay cost?
Depending on the plan you select, you can get factoring rates as low as 1.5%.
Is there a minimum number of invoices required to use SmartPay?
No, there's no minimum number of invoices required to use SmartPay. Whether you have a few invoices or many, SmartPay offers flexibility to meet your factoring needs.
How fast can I access funds with SmartPay?
With SmartPay, you can access your funds through same-day funding or ACH transfers that take 1 business day. We provide convenient options to suit your preferences.
How long does it take to sign up for SmartPay?
Once you submit our interest form, one of our representatives will reach out to explain in detail all the information you need to submit your application. Depending on how fast you provide all the documents, you can start using SmartPay in less than 2 business days!
Try SmartPay today
Ready to get started?
See how SmartPay can help you keep more of what you earn and build a healthier trucking business.
Sign up now- Use SmartPay to get faster and more affordable truck factoring.
- Add SmartHop’s powerful fleet management software to help you make the right booking decisions, increase productivity, and improve performance!