Factoring

TriumphPay is in the middle of a rollout of LoadPay, a payment tool aimed at owner-operators.

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Freight factoring platform Outgo said a recent $15 million funding round has allowed it to ramp funding speeds to carriers.

In today’s volatile economy, it is vital to choose a factoring partner that can offer the financial support and expertise needed to navigate the complexities of Chapter 11 bankruptcy.

Due to shrinking margins and elevated carrier costs, brokers are using freight factoring services to maintain steady income. Bharath Krishnamoorthy, co-founder and CEO at Denim, discussed the ways Denim can help brokers manage their loads, payments and collections.

Triumph Financial is sticking to its long-term goal of growing TriumphPay Network market share even as earnings sag.

Triumph Financial CEO Aaron Graft talked future opportunities as growth engine TriumphPay flipped to negative EBITDA in the first quarter.

Kimberly Fisk, the new COO of Triumph’s factoring group, sat down for an interview with FreightWaves as she begins the job.

Investment bank Piper Sandler cut its rating on trucking-focused bank Triumph Financial even as it offered praise for the company’s strategy.

Brokers and carriers are still feeling the sting of the ongoing freight recession, and factoring companies can be critical partners during this time.

Love’s plans on adding as many as 2,000 truck parking spots this year, less than in recent years.

TriumphPay came in at positive EBITDA in the fourth quarter, a full year ahead of schedule.

Strong partnerships will be necessary to ensure carriers can keep moving — and keep getting paid — into 2024, allowing for a more measured approach for owner-operators and fleets to manage their cash flow.

A white paper by factoring company OTR Solutions highlights risks it sees from the combination of 3PL bankruptcies and asset-based lending.

Triumph Financial’s earnings saw a tighter EBITDA loss at TriumphPay and a largely flat average invoice price in its transportation factoring business.

Convoy and OTR Solutions have issued a joint statement saying that the situation has been resolved.

TriumphPay dealt with the same weak conditions as other trucking-focused companies in the second quarter, but one key measure was stronger.

Triumph Financial felt the soft freight market like everybody else, but its network of the future did show signs of improvement.

Triumph Financial hit a significant milestone in the business it built from the acquisition of HubTran, but TriumphPay’s EBITDA worsened.

TriumphPay’s Emily Meyers notes that it’s tougher for carriers to predict their cash flow and expenditures while facing such long payment cycles.