Love's keeps buying factoring companies. What does it mean for carriers?
In December 2025, Love's Financial bought TBS Factoring Service, Saint John Capital, and Financial Carrier Services — about 3,400 factoring customers in one deal, its largest yet, on top of the REV Capital portfolio it bought in 2024. If you factor with any of them, your factor's owner is now a truck stop chain. Here's what actually changes, what doesn't, and what to watch at your next renewal.
What Love's bought, and when
| Closed | Acquired | Scale |
|---|---|---|
| July 2024 | REV Capital's U.S. transportation factoring portfolio | 500+ carriers |
| December 19, 2025 | TBS Factoring Service (Oklahoma City), Saint John Capital (Chicago), Financial Carrier Services (Charlotte) | ~3,400 carriers — Love's largest factoring deal to date |
Terms weren't disclosed for either deal. Love's told transitioning customers to expect no disruption or delays in funding, plus access to its travel-stop network perks — fuel discounts and its Express Billing credit line. (Sources: Love's announcement, FreightWaves.)
Why a truck stop chain buys factoring companies
Because the factor controls where a carrier's money lands. Love's sells fuel; a factoring customer whose advances arrive on a Love's fuel card buys that fuel at Love's. Owning the factor closes the loop: factoring fees on the way in, fuel margin on the way out, and a carrier who rarely needs to leave the ecosystem. It's the same logic as brokers routing payments through their own platforms — TriumphPay, Relay — which we cover in our freight factoring guide.
None of that is bad for carriers by itself — fuel discounts are real money. The tension is structural: an ecosystem factor is optimizing for the ecosystem, and every acquisition moves another few thousand carriers from an independent factor to a consolidated one.
What changes for TBS, Saint John, and FCS carriers — and what to watch
Right away: almost nothing. Your agreement transfers on its existing terms, your NOA stays in force, and funding continues — Love's said as much, and disrupting 3,400 funded carriers would be self-defeating.
At renewal: read everything. Acquisitions earn their price afterward. The places it shows up:
- • Rate and fee reviews — a new owner inherits your rate; it doesn't have to keep it at renewal. Compare any new fee schedule line by line against the old one.
- • Re-signed paperwork — anything you're asked to sign after an acquisition is a new negotiation, whatever the cover letter says. Check the term length, termination clause, and minimums before signing.
- • Support consolidation — the rep who knew your account may become a queue. For a factoring relationship, response time when a broker shorts you is worth real money.
- • Ecosystem nudges — expect incentives to take advances on Love's cards and fuel at Love's. Take them when they're good; just price them against the discounts you already get elsewhere.
Stay or switch?
Stay if your rate holds, funding stays same-day, and the fuel perks net out in your favor. An acquisition alone is not a reason to move.
Start comparing if your renewal arrives with new fees, your effective rate creeps past ~3.5% all-in, or support degrades on a dispute. Two resources for that: our TBS Factoring review (updated for the Love's era) and how to switch factoring companies — including the buyout process between factors, which is more routine than most carriers expect.
And if you're weighing the field: the best trucking factoring companies in 2026 compares the big names side by side, or see what factoring really costs.
Frequently asked questions
Did Love's buy TBS Factoring?
Yes — TBS Factoring Service, together with Saint John Capital and Financial Carrier Services, in a deal that closed December 19, 2025. About 3,400 factoring customers changed hands.
Does my contract change?
Not on day one — it transfers on existing terms. Renewal is where the new owner's terms arrive. Read anything you're asked to re-sign, especially term length and termination fees.
Is a bigger factor better or worse for me?
Bigger usually means steadier funding and better fuel programs, but slower support and less flexibility on individual situations. Which matters more depends on how often you need a human to fix something — which in factoring is more often than the brochures suggest.
About the author: Grigori Kokchyan is the founder of AutoFreightFactoring, an independent freight factoring company. Acquisition facts are sourced from Love's announcements and industry press, linked above; the analysis of what to watch comes from operating a factoring company and from the switch conversations we have with carriers every week.