Frequently Asked Questions

Carrier Factoring

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

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 currently do not 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?

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 Financing

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.

Seller Financing

Why should I use InstaPay Seller Financing?

  • Daily funding boosts your cash flow, giving you more capital to grow your business. You can pay your suppliers more quickly, invest in more inventory, or launch an advertising campaign to drive sales.

Which eCommerce platforms do you work with?

  • Right now we only work with Amazon, but we’ll be adding more (Walmart, Shopify, eBay, etc.)

What does it cost to use?

  • InstaPay charges a simple, flat fixed fee between 1% and 2% of your total net transactions (not gross transactions, as some others do.)

When will I receive the funds?

  • Every weekday (Monday – Friday) by 5 PM ET.

    Each morning we’ll scan the prior day’s shipments and fund you via same-day ACH, so the money is in your bank the same afternoon.

    On Monday, you will receive 3 payments (Friday, Saturday, and Sunday’s shipments) since banks aren’t open on the weekends.

    When Amazon pays, we apply the payment to your outstanding balance and release the extra funds.

How do you calculate my payment?

  • Every morning, we scan information on your shipped orders. Amazon takes the sale price of an item, subtracts their fees, and adjusts for refunds. That final amount is your daily net transactions. We calculate our fee and your advance and pay you your advance minus the fees.

    : Charisse is an Amazon Seller who qualifies for a 1.5% rate and a 70% advance for InstaPay Daily Funding. This payment period, she has shipped $115,000 of Amazon orders. After $15,000 in Amazon fees, her net transactions are $100,000. She paid $1,500 (1.5% of $100,000--we don’t charge on Amazon fees) to receive her payments the next weekday, every weekday. Overall, InstaPay advanced her 70% of her net transactions minus our fees ($70,000 minus $1,500 for a total of $68,500) and paid her the remaining 30% ($30,000) when InstaPay received Amazon’s payout per her usual payment schedule.

Is it a loan?

  • No, technically we purchase accounts receivable, so it’s not considered a loan.

Why don’t you advance 100%?

  • Refunds happen, and if we advanced 100% of your orders, Amazon’s payment might be less than the total we advanced. This means we would have to charge you back when we receive Amazon’s payment.

Why didn’t I get paid today?

  • Your daily net transactions may be negative (returns exceeded net shipments), or you didn’t ship any orders.

How can I check my daily fundings?

Can I connect multiple stores?

  • Yes