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Bobtail factoring: rates, fees and terms
App-based factoring with a fuel card, aimed at owner-operators and small fleets, with same-day pay included.
What sets it apart
Bobtail's own pages disagree on two points that matter at signing: the home page caps the rate at 3.24% while the factoring FAQ says rates usually run 1.5% to 3.5%, and the home page promises no long-term commitment for the first 90 days while the FAQ says you move into a long-term contract after the 90-day trial. Ask which applies to you, in writing.
Read twice: its own pages disagree
- Rate: home page says max 3.24%; FAQ says usually 1.5% to 3.5%.
- Contract: home page says no long-term commitment for the first 90 days; FAQ says you move into a long-term contract after the 90-day trial.
Ask which version applies to you, and get it in the contract.
Published terms
| Rate | Home page: "Negotiable Rates, Max 3.24%". FAQ: "A small factoring fee (usually 1.5%-3.5%) is charged per invoice. Rates vary based on volume and credit risk." |
|---|---|
| Advance | Not stated on the pages we read |
| Recourse | Not stated on the pages we read |
| Contract | Home page: "No Long-Term Commitment for the First 90 Days". FAQ: "After a 90-day trial period, Bobtail moves you into a long-term contract." |
| Monthly minimum | No monthly minimums |
| Transfer fees | Same-day pay, no extra charge; "Expedited payments require an additional fee; however, all other same-day and next-day payments are free." |
| Other fees | No reserve requirements, no hidden fees (FAQ) |
| Funding speed | Invoices before 11 AM EST Monday to Friday are funded the same day by 6 PM EST |
| Fuel | Not stated on the pages we read |
Monthly cost at the published rate
$10,000 a month: $324. $25,000 a month: $810. $50,000 a month: $1,620. Based on the published maximum. The 3.24% maximum on the home page. The FAQ says rates can run to 3.5%. Per-invoice fees counted at a $2,500 invoice.
Owner-operators who want free same-day pay and no reserve.
You need a month-to-month contract after 90 days; the FAQ describes a long-term one.
Ask before you sign
- Expedited payment carries an extra fee whose amount is not stated on the pages we read.
- Recourse type is not stated on the pages we read.
Pages we read
Factors change rates and terms. If this is out of date, tell us.