Carrier Invoice Factoring: Get Paid Same Day
Factor through MJN and get paid the day you deliver. 26,000+ loads funded since March 2000. Real people answer when you call.
For carriers with loads from pre-approved shippers
Factoring Rates
First 30 days
New accounts pay zero factoring fees for the first 30 days. No commitment required.
Variable Rate
Starting rate of 1.5%. Rate holds and does not climb. No hidden fees, no surprise charges.
Flat Rate for 60 days
Prefer a flat rate? 3% covers the full 60-day period.
Advance Rate
95%
of approved invoice face value
Recourse factoring is standard with a general recourse period of 60 days. Non-recourse factoring is available for an additional 0.5%. No minimum fees for the first 90 days. $200/month minimum applies thereafter. $500 referral credit available for referring new factoring carriers.
Initial 90 days contract. Terminate at any time within the first 90 days without penalty. After the first 90 days, a 30 days written notice is required. Contact MJN Services to discuss contract details.
Or call 801-705-9030 to talk to someone today.
How It Works
Why Carriers Factor with MJN
- 26,000+ loads funded since March 2000. Factoring is a primary line, not a side service.
- over 25 years serving the trucking industry. Terms do not change because your volume changed.
- Truckstop Credit Rating: A. Transcredit Score: 98. Verify MJN before you sign.
- Family-owned. Call MJN and reach the people who run the business. No call centers, no queues.
Factoring Options
- Fast Funding →
Submit by 1:00 PM MST, get paid the same day.
- Owner-Operators →
Factoring built for single-truck operators.
- MJN vs Quick Pay →
How factoring compares to broker quick pay.
MJN Factoring vs Broker Quick Pay
Quick pay only works with the broker offering it. MJN factoring works across every approved customer you haul for.
| Broker Quick Pay | MJN Factoring | |
|---|---|---|
| Eligible loads | Only loads from the offering broker | Any load with a pre-approved customer |
| Advance rate | 90–95% typical (varies by program) | Up to 95% |
| Fee | 2–5% per invoice (varies by program) | Rates as low as 1.5%; first 30 days free |
| Time to pay | 1–3 business days | Same day for invoices submitted by 1:00 PM MST |
| Coverage | Limited to participating brokers | One MJN account covers all factored invoices |
| Fuel advances | Rarely available | Up to 40% of load value for qualified carriers |
Want the deeper breakdown? See Factoring vs Quick Pay →
What Carriers Say About MJN Factoring
M & M Stith
MJN Services has given us the best factor experience that we’ve ever had. They are personable, thorough, and offer the best rates that we’ve seen. Doing business with them is a pleasure.
James Briggs
MJN Services has been a great company to work with. Factoring services and they have a load board! Super great company and we love working with them!
Francisco Sanchez
Mjn is a factoring co. And there’s no other they are nice friendly and very patient with me and always willing to help me
Factoring FAQ
What is MJN's factoring rate?
MJN's variable rate starts at 1.5%. Flat rate option: 3% for 60 days. First 30 days are free. No hidden fees.
How fast do I get paid after submitting an invoice?
Submit your invoice (with bill of lading and rate confirmation) before 1:00 PM MST on the day of delivery. MJN issues your ACH payment the same day, with advance rates up to 95% of the invoice face value. Invoices submitted after 1:00 PM MST are paid the following business day.
What is the advance rate?
MJN advances up to 95% of the invoice face value when you submit. The remaining balance is held in reserve until the shipper pays the full invoice amount, then released to you (less the factoring fee). Advance rates depend on shipper credit and load volume.
What is recourse factoring, and does it affect me as a carrier?
Recourse factoring means that if the shipper does not pay within the agreed period (generally 60 days), you (the carrier) buy the invoice back from MJN. In practice, MJN works with pre-approved shippers it knows, reducing the chance of a non-paying shipper. Non-recourse factoring is available for approved debtors in cases of shipper bankruptcy. Contact MJN to discuss recourse terms before signing.
Are there contract minimums or exit fees?
90 days initial contract, cancel anytime inside that window with no penalty. After 90 days, 30 days written notice required. No long-term lock-in. See the Contract Terms section above for the full text.
Apply for Factoring
Submit your MC number and we will contact you about factoring.
Available to carriers hauling loads with pre-approved shippers. Both MJN and outside loads accepted.
Ready to Get Paid Faster?
Questions about rates or terms? Call and talk to the people who run MJN. No call centers, no ticket queues.