We analyzed some of the most popular factoring companies, and here is why OTR Solutions (previously known as OTR Capital) is #1
In our comprehensive review of trucking factoring services, we took a multi-faceted approach to evaluate each company. While we found that most companies offer flexibility in key areas like recourse vs. non-recourse factoring, contract length, reserve requirements, and minimum volumes, it’s crucial to note that the industry has a reputation for not always delivering on promises. Therefore, we focused our analysis on the following key metrics:
Customer Satisfaction and Reputation
We didn’t just rely on average Google review scores. We went a step further. We analyzed the most recent reviews using artificial intelligence for sentiment analysis. This provided us with a summarized view of customer sentiment for each company, offering a more nuanced understanding of their reputation.
Financial Stability
Due to copyright restrictions, we can’t publicly share the stability score or the name of the major credit agency (E*******n) we initially sought to use for evaluating each company’s financial health. However, we’ve created well-explained equivalents to help you make an informed decision right from the start. These equivalents are designed to give you a comprehensive understanding of where each company stands financially. Although the credit agency didn’t respond to our inquiries—likely because we’re a smaller business—you can still get the specific score and agency name by contacting us privately here.
Better Business Bureau (BBB) Data
The BBB’s grading system is more complex than just tallying complaints. Therefore, we’ve divided this metric into two separate categories: the BBB grade and the number of complaints. This allows for a more comprehensive view of a company’s standing with the BBB.
Customer Satisfaction And Reputation Based On Google Reviews.
1. OTR Solutions ★ Best Score
OTR Solutions (previously known as OTR Factoring) has 2 locations. One in Roswell, GA and another in Phoenix, AZ. The one in Roswell, GA has all the reviews. We took the latest ones, gave them to an artificial intelligence system, and it provided us with a summary.
2. RTS Financial.
RTS financial has 9 locations. 3 of them have reviews. Their Overland Park, KS has the most and the best reviews. Dallas, TX and Lombard, IL reviews are worse. We took their latest reviews from the Overland Park, KS location, gave them to an artificial intelligence system to go through and it provided us with a summary.
3. Triumph Business Capital
We found only 1 location in Coppell, TX. We took their latest reviews and gave them to an artificial intelligence system to go through and provide us with a summary.
4. TBS Factoring
All of the TBS Factoring reviews we found are coming from their Oklahoma CIty, OK location. We took their latest reviews and gave them to an artificial intelligence system to go through and provide us with a summary.
5. TAFS
All of the TAFS reviews we found are coming from their Olathe, KS location. We took their latest reviews and gave them to an artificial intelligence system to go through and provide us with a summary.
Financial Stability
As we’ve mentioned before, there’s a major credit agency (E******n) that we can’t name in public due to copyright issues. You can reach out to us in private here for full details here. They have a Financial Risk rating that’s grading business on a scale comparable to that of school grades (A, B, C, D, and F).
The score is calculated by looking at various things about the business, like how often they pay their bills late, if they have any debts they haven’t paid, or if they’ve ever gone bankrupt before. It also considers what kind of business it is, because some types of businesses are riskier than others. All this information is used to give the business a score between 1 and 100 and a grade between A and F. This helps you quickly understand if the business is a safe bet or a risky one.
- A grade of “A” means the business is very low risk, so it’s probably safe to lend money to or work with them.
- A grade of “B” is for businesses that are generally safe.
- A grade of “C” means the business has a medium level of risk.
- A grade of “D” suggests the business is risky and you should be cautious.
- A grade of “F” means the business is very high risk and it’s probably best to avoid any credit operations or working with them.
Here’s a list of our top 5 companies sorted by their grade
| Company | Grade |
|---|---|
| RTS Financial | A |
| OTR Solutions | B |
| Triumph Business Capital | B |
| TAFS | B |
| TBS Factoring | C |
Better Business Bureau
The Better Business Bureau is a household name when it comes to grading businesses, but we’ve noticed something interesting: the number of complaints doesn’t seem to weigh heavily enough in their final grades. So, we’re splitting our analysis of their data in 2 and giving you a double dose of insights!
First up, we’ll reveal the number of complaints each company has racked up over the last 12 months and the last 3 years. This will give you an immediate sense of any red flags. Then, we’ll follow up with the general BBB grade, which takes multiple factors into account.
BBB Complaints
| Company | 12 Months | 3 Years |
|---|---|---|
| OTR Solutions | 3 | 9 |
| Triumph Business Capital | 6 | 17 |
| TBS Factoring Service Not BBB Accredited | 20 | 41 |
| RTS Financial Not BBB Accredited | 22 | 63 |
| TAFS | 165 | 351 |
Overall BBB Grade
| Company | Grade |
|---|---|
| OTR Solutions | A+ |
| Triumph Business Capital | A |
| TAFS | A |
| TBS Factoring Not BBB Accredited | B |
| RTS Financial Not BBB Accredited | D |
Top-Rated: OTR Solutions Leads the Pack
After meticulous evaluation across multiple key metrics, we are pleased to announce that OTR Solutions secures the top position in our comprehensive rating of trucking factoring services. Here’s why they stand out:
- Exceptional Google Reviews: OTR Solutions leads the list with the highest average Google review scores among the five companies we scrutinized. The customer consensus? Outstanding service.
- Financial Stability: A reputable credit reporting agency has assessed them as low-risk in terms of financial stability. For those interested in the specifics, we can disclose the agency and score privately here.
- Unparalleled BBB Rating: OTR Solutions not only has the fewest complaints registered with the Better Business Bureau, but they also hold the BBB’s highest possible rating of A+. Remarkably, they are the only company on our list to achieve this esteemed grade.
In summary, if you’re in search of a trucking factoring service that excels in customer satisfaction, financial stability, and industry reputation, OTR Solutions is the clear choice.
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