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Frequently Asked Questions


What is freight factoring?

Carriers have to wait for 30, 60, even 120 days before getting paid for hauling a load. Freight factoring is a service that can pay you immediately after you've delivered. InstaPay deals with your client directly while paying you as soon as a day.

What is a fuel advance?

Fuel advances help you receive a part of your load rate even before you start hauling. This money can help you finance fuel costs. You receive the remaining amount after you've hauled and sent your Bill of Landing (as proof of delivery). InstaPay deals with your client directly afterward without bothering you.

Can I take an advance with the broker and still factor the load with Trucker Path?

Yes, you can. If you take an advance for a load, simply inform us of that when sending your documents.

Is there a contract?

To start factoring with InstaPay, you need to sign our Notice of Assignment - a document that enables us to receive payment for loads you deliver. By signing our Notice of Assignment, you also agree to our Factoring Terms.


Are there any hidden fees like sign-up fee, ACH transfer fee and so on?

No, there aren't any other fees. Just a flat 3.5% rate per transaction. To calculate the factoring cost, just multiply your load rate by 3.5% ( 0.035) – it's as simple as that.

I saw rates of 2%. Why do you charge 3.5%?

Most 2% rates are for recourse factoring. In that case, you'll be responsible for collecting funds if a client fails to pay. We offer non-recourse factoring at 3.5%, which means you receive money right after you've factored with us and we handle collection. In addition, we do not charge any hidden fees or require any commitments from you like other factoring companies do.

How do you transfer money?

We transfer money by an ACH payment directly to your account. 

When will I receive my funds?

We issue an ACH deposit within 1 business day of receiving your documents. After that, it usually depends on the promptness of your bank. Most clients receive money within 2 days after they send documents to InstaPay.

Why do I have to sign up with Bold?

Bold is our payment processing company for InstaPay payments. By working with Bold we ensure that you get paid as quickly as possible.

Can I set up multiple bank accounts with Bold?

No, all payments for your factoring account must be deposited same bank account.


What documents do I need to send?

Rate Confirmation and Bill of Lading preferably. We need the former to collect from the broker and the latter as a proof of delivery. Please include lumpers, detentions, and any other documents that could help us process your load faster.

How can I submit my documents?

Please send pictures of your documents by email (preferably in a single email) or via our Truckloads app. You will receive receipt confirmation from InstaPay.


Can I only factor loads from Truckloads Load Board?

No, you can factor any load regardless where you found it. However, we encourage using Truckloads because it provides a great mobile experience and is free.

Can I factor the loads I delivered prior to signing up with Trucker Path?

No, you can only factor those loads you have delivered after signing a Notice of Assignment with Trucker Path, which is a part of our signup process.

Do I have to factor every load with Trucker Path?

No, you can decide for yourself how many loads to factor with us. However, if you factor a load from a particular broker, you’ll need to factor all subsequent loads from that broker as well.
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