Bobtail

Overview

Bobtail is a freight factoring and fleet card company based in Maryland. Its website lists two offices: Bobtail Capital in Silver Spring and Bobtail Wallet in Columbia, Maryland.

Bobtail builds its own technology. This includes a factoring app, a transportation management system and the Bobtail Mastercard fleet card. The company markets itself on transparent pricing and same-day payment.

Its factoring page says more than 8,000 carriers have factored with Bobtail. The page also cites more than $1 billion funded and more than 1 million invoices factored. Its homepage says the service is available in English, Spanish and Punjabi.

Services

• Freight factoring. A per-invoice fee, with no reserve requirements, according to its FAQ. Bobtail runs a credit check on every freight broker and shipper.
• Same-day funding. Invoices submitted before 11am Eastern, Monday to Friday, are funded the same day by 6pm Eastern. The FAQ says Bobtail provides same-day funding to all clients. Expedited payment is available for an extra fee.
• Bobtail Mastercard fleet card. Issued by The Bancorp Bank, N.A. It advertises fuel discounts of up to $3.00 a gallon and 59 cents a gallon on average at more than 1,000 locations. Discounts apply to cardholders at participating locations. The company says there are no monthly, transaction or setup fees and approval takes five minutes. Bobtail links a separate fee schedule for the card.
• Transportation management system and a factoring app.
• Switching from another factor. The FAQ says a switch typically takes about two days, depending on the current provider.

Bobtail does not offer fuel advances against a booked load. The fleet card is its fuel product.

Industries served

Bobtail serves freight carriers and owner-operators in trucking. Service is offered in English, Spanish and Punjabi.

Published terms

Bobtail's FAQ says the fee, "usually 1.5%–3.5%", is charged per invoice and varies with volume and credit risk. The FAQ says Bobtail is "proud to have no hidden fees". Its homepage comparison table describes its rates as "negotiable rates, max 3.24%". The FAQ range tops out at 3.5%; the homepage figure tops out at 3.24%.

With no reserve, the client receives the invoice value less the fee up front.

On contract length, the pages differ in wording. The factoring page is headlined as factoring with no long-term contracts and says clients can cancel at any time in the first 90 days without penalty. The homepage comparison says "no long-term commitment for the first 90 days". The FAQ says that "after a 90-day trial period, Bobtail moves you into a long-term contract".

How to apply

The FAQ says applicants need a driver's licence and an insurance document, and sometimes incorporation documents. Each invoice needs a signed bill of lading and a rate confirmation. Support is available from 9am to 5pm Eastern, Monday to Friday, on (410) 204-2084, according to the FAQ. No weekend factoring support is published.