ASSET FUNDING SOURCE, LLC

What ASSET FUNDING SOURCE, LLC does

Asset Funding Source, LLC is a privately held freight invoice factoring company headquartered in Ankeny, Iowa. The firm purchases accounts receivable from freight trucking companies and individual owner-operators, paying out cash typically the same day (via wire or ComCheck) or the next business day (via ACH), in exchange for a percentage fee on the factored invoice. Pricing starts as low as 1.5% and steps down as customer volume grows, with no monthly minimums and straightforward contract terms. The company also offers ancillary services including fuel cards, dispatch, fuel advances, and 24/7 online credit checks, and is affiliated with an in-house trucking insurance agency that allows bundled insurance procurement.

The business is built on a transaction-fee revenue model with a sales-led, direct-to-customer go-to-market motion targeting SMB trucking businesses primarily in the U.S. Midwest, though the website markets nationally. The underlying technology is a web-based invoice submission and verification system integrated with electronic payment rails; the company self-describes its credit screening as "cutting edge," though there is no evidence of proprietary AI/ML or advanced automation — the platform is hosted on GoDaddy Website Builder. Distribution relies on direct outreach, a professional website with newsletter signup, and personalized service from experienced staff, with no mobile app, public API, or disclosed headcount.

The firm is small and privately capitalized, with no disclosed institutional investors, funding rounds, executive team, or financial figures in the public record. The Midwest geographic concentration, single PO Box mailing address, and 8-to-5 weekday operating hours are consistent with a boutique regional factor. Key risks include the absence of disclosed scale, lack of technology differentiation beyond basic electronic processing, dependence on the freight cycle and broker/shipper credit quality, and the lack of any visible technology moat against larger, better-capitalized freight factoring competitors.

Name

ASSET FUNDING SOURCE, LLC

Legal name

Asset Funding Source - Freight Invoice Factoring

Website

https://afundingsource.com

Company type

Private

Operating status

Operating

Short description

Asset Funding Source, LLC is a privately held, Ankeny, Iowa-based freight invoice factoring company that purchases accounts receivable from SMB trucking companies and owner-operators, providing same-day or next-day funding for a transaction fee starting at 1.5%.

Ownership category

akta.pro rank

Product category

Freight Factoring Services

NAICS

Sales Financing (52222)

akta.pro primary industry

Receivables Finance (Factoring, Invoice Discounting, Forfaiting) (FSABAHAD)

Keywords

• Freight invoice factoring
• Trucking factoring services
• Accounts receivable financing
• Transportation factoring
• Carrier cash advance

Headquarters

HQ city

Ankeny

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Freight Invoice Factoring Fees: The company charges a fee (percentage) on factored invoices, typically as low as 1.5% of the invoice value. Fees decline as customers grow and use more factoring services. This is the primary revenue stream from providing immediate cash against accounts receivable.
2. Ancillary Services: Additional services including fuel cards, dispatch services, fuel advances, and credit checks. While some services may be complimentary (fuel advances, credit checks), they likely generate referral fees or interchange revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Asset Funding Source purchases accounts receivables (freight invoices) from trucking companies and owner-operators, providing immediate cash payment typically same day or within 24 hours via wire or ComCheck, or next day via ACH. The company charges a factoring fee as low as 1.5% of the invoice value, with rates declining as customers grow. The service is complemented by free online credit checks, fuel cards, dispatch services, fuel advances, and bundled insurance through an affiliated agency.

Product overview

Asset Funding Source is a freight invoice factoring company offering a single core product line centered on freight invoice factoring services. The company purchases accounts receivables from trucking companies and owner-operators, providing same-day or next-day funding. The core factoring service is complemented by several add-on modules including free online credit checks, fuel cards, dispatch services, fuel advances, and new start-up support. Funding options include same-day wire or ComCheck transfers and next-day ACH deposits. The company positions itself as offering competitive rates starting as low as 1.5% with no monthly minimums.

Differentiator

Problem solved

Functional benefit

Products and services

• Freight Invoice Factoring
• Credit Checks Free online credit checks available 24/7/365 to evaluate brokers and shippers for creditworthiness before accepting their invoices.
• Fuel Cards Fuel card program for trucking companies to manage fuel purchases.
• Dispatch Services Dispatch services to assist trucking companies with load placement and logistics.
• Fuel Advances Advance payments on fuel to help trucking companies manage cash flow between loads.
• New Start-up Support Factoring services designed for new trucking companies and startups to improve cash flow from day one.
• Invoice Collections Back-end collections service performed by Asset Funding Source on behalf of clients who factor their invoices, reducing the administrative burden of accounts receivable management.

Quantifiable outcome

• Invoices funded same day or within 24 hours
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• In-House Trucking Insurance AgencycoreStrategic or Co-development PartnerAffiliated with an in-house trucking insurance agency that provides bundled insurance services for trucking clients. This partnership enables Asset Funding Source to offer comprehensive solutions to their freight factoring customers, including insurance procurement alongside factoring services.

Scale indicators2 records

Recent moves5 records

Expansion highlights4 records

Emerging players

• Fundbox: Tech-forward small-business working capital provider offering invoice-based advances and lines of credit. Shares the digital-first, small-business funding model but focuses on small/recurring invoices rather than large freight receivables.
• Bluevine: Online small-business financing platform offering invoice factoring and lines of credit with rapid digital onboarding. Comparable in 'fast funding for SMBs' framing, but broader across industries rather than trucking-specialized.

Direct peers

• TFS (Transportation Financial Services): Long-standing freight factoring company offering non-recourse and recourse factoring, fuel cards, and settlement services to trucking carriers. Highly comparable in target segment, services, and value proposition (small-fleet focus); differs mainly by being more established and larger.
• RTS Financial Services: National freight factoring company providing same-day invoice funding, broker credit checks, and back-office services to carriers. Directly comparable on service design, customer base, and the speed-of-funding proposition that defines this category.
• OTR Capital: Specialized freight invoice factor providing same-day funding, fuel advances, and credit checks to trucking companies. Direct overlap with Asset Funding Source on core factoring product, carrier customer base, and bundled offering philosophy.
• Triumph Business Capital: Dedicated transportation factoring arm of Triumph Bancorp, offering factoring, fuel cards, and treasury services to freight carriers. Strong peer given identical factoring-for-trucking model and SMB owner-operator target, with the backing of a much larger institution.
• KGR Factoring: Smaller dedicated freight factor focused on owner-operators and small fleets with personal service and competitive rates. Most similar to Asset Funding Source in scale, customer niche (owner-operators/startups), and service intensity.
• Apex Capital Corp: Largest US freight factoring company providing same-day funding, fuel cards, and back-office services to carriers and owner-operators. Directly comparable to Asset Funding Source on product (freight factoring), customer (small carriers), and value proposition (speed and bundled services), but at vastly greater national scale.

Others

• Truckers Insurance Associates (AFS affiliate): In-house trucking insurance agency affiliated with Asset Funding Source that bundles insurance procurement with factoring services. Listed to flag a known partner from the source data, illustrating the company's bundled distribution model; not an external competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ASSET FUNDING SOURCE, LLC