Spot and no-contract factoring (2026)
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Quick answer
Key takeaways
- “No contract” can mean three things: no term length, no monthly minimum, or pick-your-loads. Check which.
- FactorLoads and Truckstop say you choose which loads to factor.
- Phoenix and Triumph are month-to-month.
- Bobtail’s 90-day trial rolls into a long-term contract, per its FAQ.
Top picks
Contract terms compared
| Company | Pick loads? | Term | Minimum | Exit | Source |
|---|---|---|---|---|---|
| FactorLoads | Yes (spot) | No contract | No monthly minimum | No obligation | source |
| Truckstop | Yes | No lock-in | No volume min or max | 30 days’ notice | source |
| DAT Outgo | Not stated | No annual contract | Not stated | 15-day notice | source |
| Phoenix Capital Group | Not stated | Month-to-month | No min or max | Not published | source |
| Triumph | Not stated | Month-to-month | Not stated | Not published | source |
| OTR Solutions | Per broker | Not stated | No monthly minimum | Broker release needed | source |
| Bobtail | Not stated | Long-term after 90-day trial | Not stated | See contract | source |
Five questions to ask before you sign
- Do I have to factor every load, or every load from a broker I’ve factored once?
- Is there a monthly minimum or a fee if I don’t hit it?
- How many days’ notice to cancel, and is there an early-termination fee?
- How fast do you send the release letter to my brokers when I leave?
- Is there a reserve, and when is it paid out?
Each no-contract option, in detail
1. FactorLoads
True spot factoringFactorLoads lists no contracts or obligations, spot factoring (choose which loads to factor), no monthly minimums and no reserves.
Watch for: Rates are custom quotes.
Sources: portal.factorloads.com
2. Phoenix Capital Group
Month-to-month, no minimumPhoenix says its typical agreement is month-to-month and that it has no minimum or maximum amount it will fund for a client.
Watch for: Funding-method fees are charged on top of the factoring fee.
Sources: pcgfactoring.com
3. Truckstop Factoring
Pick your loads, 30-day exitTruckstop says you don’t have to factor every load, it has no volume minimums or maximums, and 30 days’ notice is all it needs to opt out.
Watch for: The broker must be factorable as decided by Truckstop.
Sources: truckstop.com
4. DAT Outgo
Published rate cardOutgo publishes its rates (3% under $18K a month) and states no annual contract with a 15-day cancel notice.
Watch for: Above $80K a month, rates are custom.
Sources: outgo.dat.com
5. Triumph
Month-to-monthTriumph says it doesn’t require long-term contracts and you can factor month to month.
Watch for: Rates are quote-only.
Sources: triumph.io
6. OTR Solutions
No volume minimumOTR has no monthly volume minimum and pairs factoring with published fuel-advance fees.
Watch for: Once you factor a broker, later invoices from that broker must be factored until released, so this is not true spot factoring.
Sources: otrsolutions.com · otrsolutions.com
Frequently asked questions
What is spot factoring?
Spot factoring means you choose which invoices to factor, one at a time, with no requirement to factor all your loads. FactorLoads and Truckstop both say you pick which loads to factor.
Is no-contract factoring more expensive?
Not necessarily. Outgo publishes 3% for owner-operators under $18K a month with no annual contract, which is in the range of contract factors’ published rates.
How do I get out of a factoring contract?
Read the termination clause: notice period, any early-termination fee, and how the Notice of Assignment gets released. Truckstop asks for 30 days’ notice and Outgo 15 days. Bobtail says its 90-day trial moves into a long-term contract.
Does “no contract” mean I can factor any load?
Not always. OTR has no monthly minimum, but once you factor a broker, later invoices from that broker must go through OTR until released. Ask about broker-level rules.