Frequently Asked Questions

We answer all your questions about InstaPay and freight factoring below. Don't see your question answered here?
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How to get started

Questions about our factoring offer.
What are the benefits of factoring?

Factoring puts money in your hands sooner rather than later. Most carriers have to 30+ days to get paid for delivering loads. If you factor, you can get paid the same or next day. The factoring company takes care of billing and collections for you. Learn more about factoring here.

What is your rate?

Our non-recourse rate is a flat 3% with no other hidden fees.

What additional fees do you charge?

We have no additional fees. No sign-up fee or termination fee. You only pay the 3% factoring fee on invoices. We work with carriers, not against them.

Do you offer recourse and non-recourse factoring?

We offer only non-recourse factoring.

What is non-recourse factoring?

In a non-recourse factoring agreement the carrier is not responsible for paying the factor if a broker does not pay on a load. The factor absorbs the loss. Read more about non-recourse factoring

About InstaPay

Questions that cover our factoring process.
Do you handle collections?

Yes, we will handle the invoicing and collections for you. All you have to do to get paid is deliver your load and submit clear documents online. Read more about the factoring process here.

Do you hold a reserve?

We do not hold reserves. You will receive 100% of the load rate, minus the factoring fee.

Do you offer fuel advances?

No, we current don't offer fuel advances.

Do you factor every load?

We factor most loads. We reserve the right to decline a load. For example, we may decline to factor if the load is more than 3 months old or from a broker that does not meet our eligibility criteria. You can check broker credit for free through our online portal. If a broker is ineligible in our system, we will not factor for them. If a broker is moderate in our system, we may factor for them. You will have to contact us to confirm moderate brokers.

What are minimum and maximum amounts you will factor?

There is no minimum or maximum amount. You can factor any amount with us.

Do I have to factor all my accounts receivable with you?

No, you can pick and choose which debtors you want to factor with us. There is no minimum volume of invoices required.

Do you factor every broker?

No. We run credit checks to make sure we are working with reliable brokers. We are a non-recourse factoring company, meaning if the broker does not pay a load for anything that is out of the carrier's control, we will be responsible for collecting those funds from the broker or absorbing the loss. Because of this, we need to make sure the brokers we are factoring loads for are credit-worthy. You can always call or email us or check a broker's eligibility on our online portal before picking up a load to make sure we will factor for that broker.

Do you offer fuel cards?

No, we do not. You are free to work with any fuel card provider.

Do you have a mobile app?

No, we do not, but our website is mobile-friendly. Please visit our online portal to manage your account. Read more about the online portal here.

Payment questions

Questions about the payment process.
How long does it take to receive payments?

We will pay within 1-2 business days from receiving your complete and legible load documents. Normally, funds are available the next business day. We'll give you updates through email when we initiate your payment and when your payment goes through.

How do you send payments?

We pay via ACH transfers. We do not do wire transfers.

What is Dwolla?

Dwolla is a powerful payments platform that securely connects to bank or credit union accounts to enable the transfer of money for any individual or organization in the U.S.

Why did the transaction fail?

Sometimes transactions to or from a bank or credit union can fail. Here are a few reasons why a transaction can fail: insufficient funds - there are insufficient funds in the sending bank or credit union account to complete the transaction; frozen account - a bank or credit union account has been frozen; other reasons - a bank or credit union rejects the transaction for some other reason. If a transaction fails, please contact your bank or credit union to check on the status of your account. Then either re-initiate the transaction or ask your financial institution why the transaction may not be processed.

How does Dwolla protect customers' data?

Dwolla takes protecting data seriously. Dwolla maintains compliance with the SOC 2 framework. This framework provides an independent, third-party assurance that we are taking the appropriate steps to protect our systems and your data. Learn more about Dwolla’s security practices here.

What if I don't remember my account password?

On the log in page, click "forgot password" and enter your email. You should get an email to reset your password.

Factoring your loads

Questions about how to factor loads.
How do I factor loads?

To factor your loads, simply log on to the online portal and click on " new invoice" to submit your invoice there. Read our blog for more details.

Please upload the following documents: Final Rate for the load that includes all accessorial charges and whether or not you took an advance, a photo or scan of the Bill of Lading, a photo or scan of the Rate Confirmatio, and a photo or scan of additional receipts.

Please make sure the quality of photos or scans is high so brokers can accept them when we collect on your behalf. Please submit loads separately. Do not attach documents for multiple loads in one submission. This will delay your payments.

How do I know if my load was received?

You will be notified via email and on the portal  when we receive it.

How do I know if my load was approved?

We will notify you via email once we process the load. You will also receive an email if we need additional paperwork or information to process the load. You will receive a notification on the portal, too.

How can I get paid quickly?

To ensure we can process your payment ASAP, please do the following: send good quality scans, submit only one load at a time online, include all paperwork in one submission, and circle or highlight the receiver's signature.

Briefly let us know: the rate you are expecting (if different from rate confirmation), if you took an advance, and if there are any additional receipts or charges.

Provide the broker with notice of assignment (NOA) in advance so when we call to inquire about the load, we are already on file as your factoring company.

What if a broker needs original BOLs?

First, submit the rate confirmation and BOL on the online portal so we can factor the load for you. We ask that you mail the PODs and all additional paperwork directly to the broker and provide a tracking number so we can make sure the documents arrive at the broker's location before initiating payment. In the past, we have had brokers dispute whether or not the documents were received, and they would not submit payments to us.

What if I have a pending detention or lumper receipts?

Email all updates to with the load number. We will pay what is listed on the rate confirmation provided by the broker, minus any advances or fees taken on the load. Should the broker offer to pay extra money out of pocket for detention or lumpers, simply request an updated rate sheet from the broker so we can initiate the extra payment. An email coming from the broker approving an extra amount to be paid will suffice as well. All lumper receipts, whether paid by the broker or carrier, need to be provided in order to avoid the broker short-paying us.

What if a broker accidentally pays me?

Please call and notify us right away! Failure to alert us of a payment sent directly to you within 10 business days will result in a 5% fee. If a broker sent you a check, you can forward the check to:
P.O. Box 6619
Austin, TX 78762

What do acceptable, moderate, and ineligible mean when checking broker credit?

If a broker is acceptable, InstaPay will factor the loads. A moderately acceptable broker will need our approval. A broker could be moderate because they have been in business for less than a year, they don't have a great credit score, or they are a new broker to us, meaning we have't factored any invoices with them as the broker. Ineligible means that there was a serious issue with the broker or lost authority. Read more about credit checks here.

Broker factoring

Questions about the broker factoring process.
What paperwork is needed?

You will need: broker invoice - needs to include the amount you will be paid from your customer and customer's name and reference number; carrier invoice - needs to include the amount you'll pay the carrier, your reference number, and payment terms (i.e. QuickPay or 30-day pay?); carrier rate confirmation; and BOL.

What do I need to onboard a new carrier?

You will need: carrier name, carrier MC number, address, phone number, email, and payment information.

Who handles collections?

We handle invoicing and collections. We will work with you if you prefer to handle collections on your own.

At what point do I get charged back if a shipper doesn't pay?

60 to 90 days depending on the shipper's net payment terms.

How quickly do I get paid as a broker?

InstaPay will pay you within 1-2 business days. Your carrier gets paid based on the specific payment terms you establish with them.

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