Triumph Factoring Review

triumph business capital logo vector

Are you eligible for Triumph’s invoice factoring services? And are they the right choice for your business?

triumph factoring


  • Advertises advance rates of up to 90%
  • Some invoices are paid within 24 hours
  • Provides funding of up to $20 million
  • Offers an intuitive mobile app for tracking your funding in real time
  • Monthly discount rates may be as low as 1%


  • Fees can reach as much as 4% of the factored invoice, per month
  • You’ll require a personal credit score of at least 500 to be eligible…
  • ...and you’ll need to have been in business for at least a year
  • Fees lack transparency
At a glance: Perfect for truckers and passable for everyone else, Triumph excels with its app and back office solutions, but is hamstrung by opaque fees and sub-par customer service.

Triumph Business Capital (known hereafter as simply ‘Triumph’) is a Texas-based company that provides finance for businesses across the US. With industry-specific funding options for truckers, freight brokers, government contractors and more, Triumph has been accelerating the growth of America’s SMBs since 2004. 

And, with an impressive array of services spanning equipment financing, fuel cards, and vehicle insurance, Triumph ticks a long list of boxes – whether you’re a trucker, a broker, or just a small business looking for a quick cash injection.

Today, we’re taking a look at its invoice factoring facility. So, what is it?

What is Triumph Factoring?

Triumph’s central offering (and one made crystal clear by its domain name, is its invoice factoring service. With a factoring deal, you essentially sell your unpaid invoices (or ‘accounts receivables’ in industry jargon), get a large chunk of them paid upfront, and benefit from credit control assistance. It’s a low-risk, hassle-free route to bridging those often lengthy cash flow gaps.

What we wanted to know, though, was if Triumph’s invoice factoring service was any good. We’ve done the research, crunching the numbers and trawling the web for the latest customer reviews, to help you be sure that the next business finance decision you make will be the best one yet. 

So, is Triumph Factoring… well, a triumph? Or is your business better served elsewhere? Read on to find out.

What Are Triumph Factoring’s Services and Benefits?

In other words, what does Triumph do well – and how can your business reap the rewards?

Fast, flexible finance

Unlike with many other invoice factoring companies, Triumph allows you to factor all your invoices, or just a select few (some companies require you to factor your whole sales ledger, which can understandably cause issues). Triumph offers a mix ‘n’ match approach to financing your business, which lets you stay in complete control of your entire ledger

You’ll also have the option of choosing whether or not to take on the risk, in the event that your customer doesn’t pay. Triumph Factoring offers both recourse (lower cost, but you shoulder the risk) and non-recourse (more expensive, but Triumph takes on responsibility for the debt) solutions. The choice is yours.

Triumph Factoring works quickly, too – in some cases, it’ll pay out on your invoices the same day you submit them.

Track your funding in real time

With the aptly-named ‘MyTriumph’ web portal (pictured), Triumph Factoring puts your funding (quite literally) at your fingertips. MyTriumph is a slick, stripped-back mobile app offering live updates about the status of specific invoices, plus a bird’s-eye view of the overall health of your account.

You’ll receive push notifications when your funding’s been processed, and when the money reaches your account. And, if you have any questions, the MyTriumph app simplifies your access to customer support. It makes it easy to identify which team member is available when you need them, so you can get through instantly.

Don’t get into debt

Triumph Factoring provides a form of finance that’s tied to money already owed to your business. So, unlike with a business loan or an overdraft, it’s not easy to incur debt.

Stay on top of the paperwork

Alongside its factoring service, Triumph provides a comprehensive toolkit of back office solutions to help you relieve the burden of admin, and focus on scaling up your business. Here are a few back office services Triumph Factoring provides:

  • Free credit checks: With Triumph Factoring, you’ll be able to make better decisions about who you work with, and minimize the risk of taking on new clients.
  • Collections: Triumph Factoring’s collection team can help ensure your clients pay up, insulating your business against the damaging effects late payment can have on your cash flow and growth.
  • Data storage: Triumph Factoring keeps backups of all factored invoices and receipts. Copies are available within 24 hours, should you need them.

Tailored to your industry

When receiving finance, it’s nice to know that your chosen company is attuned to your industry’s unique needs and difficulties. That’s why it’s comforting that Triumph Factoring offers specific solutions for:

  • Trucking companies: Triumph is one of the leading freight factoring companies in the US, and also offers fleet card and fuel advance services for fleet managers.
  • Staffing companies: When suppliers don’t pay on time but staff need to be remunerated, Triumph Factoring offers a quick, straightforward route to assuaging payroll disruption and cash flow concerns.
  • Oil and gas companies: When oil prices drop, it can be tough to maintain the cash flow needed to take on new contracts. Triumph Factoring’s tailored solution for the oil and gas industry can help. 

How Much Does Triumph Factoring Cost?

Similar to many of its competitors, Triumph Factoring doesn’t openly advertise its fees. Because of the vastly differing sizes, industries, and budgets of the businesses Triumph serves, you’ll receive a bespoke factoring solution, with a bespoke price to boot.

We can tell you a bit about what to expect when it comes to the figures, though:

  • An advance rate of up to 90%. This is the amount you’ll receive up front, and is a percentage of the invoice you’re factoring with Triumph. 
  • In terms of a maximum funding amount, there’s nothing stated on Triumph Factoring’s website, but it’s believed to be as much as $20 million.
  • A discount rate of between 1% and 4% of the invoice’s value, per month. This is the fee Triumph Factoring charges you for releasing the cash upfront, and is an ongoing cost
  • An origination fee of $300 may apply when you begin working with Triumph Factoring.
  • There are no additional fees, and no monthly minimum amount you’ll have to factor.
  • However, you’ll still need to be turning over at least $100,000 to be eligible for Triumph’s invoice factoring service, and a personal credit score of at least 500.

Predicting exactly what you’ll pay in fees with an invoice factoring deal isn’t easy. But with our help, finding the right provider for your business is easy – and you can be started in just a minute’s time.

Simply complete our form with a few details about your business. We’ll ask some quick questions to get a sense of your industry, customers, and turnover. Then, we’ll put you in touch with leading US-based invoice factoring companies. They’ll be able to provide you with tailored quotes, and discuss the finance options best-placed to grow your SMB.

Is Triumph Factoring Right For My Business?

To find out, let’s tackle a few of our most frequently asked questions. 

“I run a B2C (business-to-consumer) business. Is Triumph Factoring right for me?”

Unfortunately, it won’t be. Only B2B (business-to-business) enterprises that invoice their customers are eligible for factoring, regardless of the company chosen.

“I can’t take on new jobs because I haven’t been paid for recent work.”

Ding ding ding! Triumph Factoring is perfect for your needs. By releasing funds from unpaid invoices, you can pay suppliers, prepare for fresh projects, and fuel your business’ growth with a sustainable source of cash flow.

“I struggle to collect owed monies from clients.”

It’s not an ideal situation – but if it sounds familiar, Triumph can certainly help. When you factor an invoice with Triumph, the company will assume your credit control responsibilities. This might not be for you – many small business owners choose to retain the final say when it comes to their client relationships.

But if collections is something you neither like nor want to be doing, then Triumph Factoring will hit the spot.

triumph factoring review

Invoice factoring companies like Triumph Business Capital help you get paid faster, while making the paperwork a breeze

“I’d like to factor no more than $10,000 of invoices monthly.”

This is a tricky one, because in the world of invoice factoring – particularly in the trucking industry – $10,000 in invoices a month is small fry. 

So should you do it? Well, on the one hand, Triumph Financial doesn’t have an advertised minimum, meaning it’s technically possible. However, realistically, you’ll need to be factoring a much larger monthly amount to make an invoice factoring deal profitable – and to justify the fees that come with it.

If this is your situation, we recommend looking for a cheaper deal elsewhere. We found BlueVine to be among the invoice factoring companies with the lowest fees in the US, while Payability is also suitable for small businesses. 

Alternatively, you could complete our 30-second form to receive tailored quotes from leading factoring companies. They’ll be able to discuss your needs at length, and help kickstart your route towards better cash flow. 

Get started by hitting that big red button below.

What do Triumph Factoring’s Customer Reviews Say?

We took to the web to find out. 

As it turns out, Triumph Factoring has excellent customer ratings across the board. Triumph boasts a respectable 4/5 score on Trustpilot, though it also seems to have had an oddly polarizing effect on its customers. The good reviews are good, and the bad reviews are, well… quite bad. 

Let’s take a look at the good first.

“Very knowledgeable, efficient, and courteous! Solution-oriented and extremely prompt, with quick responses. The best financial institution I have ever dealt with in 25 years.”
  • Ahmad, Crescent Foods, Triumph Factoring customer

“You can check broker ratings on Triumph’s app, and it will tell you if they are approved for factoring. There’s no need to worry about when you’re going to get paid, because [the money is] always there within two or three days.”

  • Barbara Stover Karnes, Triumph Factoring customer

“Fast payment. Not always in 24 hours, but within 48 hours at least, and in the bank in 72 hours. It’s very simple to upload your invoices, and a very easy company to work with overall. I don’t have any complaints so far, as long as it keeps up the good work and quick payments.

I always check the broker’s credit for funding approval before I ever book a load, to make sure I get funding. I’m not the type of guy that wants to wait 30 plus days to get paid for the loads I haul.”

  • Tom, Triumph Factoring customer

One of the recurring themes among the favorable reviews is the pace at which Triumph Factoring pays out. Many reviews also highlight the extent to which Triumph’s trucking clients, in particular, have benefited from its back office services – particularly the feature allowing truckers to check a broker’s credit before deciding to work with them. 

Of course, there are a few more ambivalent reviews floating around out there…

“Triumph Factoring has a decent online portal and a team of nice, friendly, and knowledgeable staff. But my account representatives are hard to reach. Even my emails will take a day or so to be responded to. Sometimes I will not get a response at all. We’re not really sure if this company is worth the percentage that we have to pay.”
  • Florida Reliable, Triumph Factoring customer

…and some that are less ambivalent.

“[Triumph Factoring] rejects invoices for minor things, and always rejects them after the cut off time, meaning I have to wait until the next day for funding. The lady that answers the phone doesn’t say she is going to transfer you, she just does it. 

“[Triumph’s customer support staff] don’t like talking to you – I’ve had plenty of them hang up on me or transfer me around the world. I’ve left plenty of messages, with no one ever calling back. So very unprofessional. Customer service is awful… it wants to charge you this high fee, but don’t uphold their side of the bargain.”

  • Erika, Triumph Factoring customer

Sources: Trustpilot, Better Business Bureau

Not amazing… but there are certainly a few glimmers of hope buried within the acrimony. Let’s wrap things up with our…

Expert Verdict

If you’re thinking of using Triumph Business Capital’s invoice factoring services, you’ll need the following:

  • A personal credit score of at least 500
  • A minimum turnover of $100,000
  • To deal in B2B transactions, and issue customers with invoices
  • To be invoicing clients, ideally, at least $10,000 every month

If you tick all these boxes, then you stand to benefit from Triumph’s fast, flexible finance, which shouldn’t leave you weighed down with debt. Sure, online reviews have cast some doubt over the efficiency of Triumph’s customer service. But any concerns about its client care crew should be mitigated by an excellent app that’ll keep you in the loop – so you won’t even have to call them up to begin with.

It’s also apparent that Triumph goes above and beyond in its financial offerings to the customer – from a glut of back office solutions to insurance and credit checks, it’s an excellent partner to have propelling your business’ ascent.

Written by:
Rob Binns
Rob writes mainly about the payments industry, but also brings to the table industry-specific knowledge of CRM software, business loans, fulfilment, and invoice finance. When not exasperating his editor with bad puns, he can be found relaxing in a sunny (socially-distanced) corner, with a beer and a battered copy of Dostoevsky.