Invoice Factoring for Haulage Companies
Invoice Factoring for the Haulage industry is a perfect funding solution if you are running a growing haulage business with a significant amount of money tied up in your debtor ledger through unpaid invoices? Is the problem becoming greater and holding you back the faster your business grows? This is where invoice factoring for haulage can help.
Whether you’re a one-man owner-driver or have a fleet of trucks, we can make sure that you have cash in your bank as soon as you raise an invoice. We truly believe that the UK logistics sector is THE most important sector in the UK economy
What is invoice finance for transport and haulage businesses?
For transport and haulage companies, invoice factoring for haulage and transport companies is very beneficial to keep a steady cash flow and meet the high cost demands of this type of business. When you are regularly waiting for clients and suppliers to pay their invoices it can put huge pressure on your business potentially making it difficult to meet high day-to-day fuel costs and the quick turnaround times required in this industry.
Whereas haulage factoring or invoice discounting can provide you with the cash you need quickly and confidentially whilst also giving you the opportunity to maintain control of your own debtor ledger. If customer service and client relationships are of particular importance to you, then invoice discounting could be the ideal solution for your cash flow.
Fuel costs, exchange rate fluctuations, unfavourable import and export ratios and an economy which ebbs and flows make it increasingly difficult to operate a profitable business.
Haulage Factoring is an excellent way to keep a steady flow of working capital going through your business allowing for drivers to be paid, vehicles to be maintained and fuelled and goods to be transported into and out of the country without that pit in the stomach moment when the money coming in just isn’t meeting the money going out requirement.
Invoice Factoring for Haulage companies helps to balance the books; you know when you are going to get paid and this steady stream of money gives you not just peace of mind but a chance to concentrate on ensuring that you maintain business momentum.
We know the importance of a steady cash flow available at all times to keep haulage businesses and their vehicles moving; we work with you to make finding you a haulage invoice factoring facility as easy as possible. A secure credit facility provides you with an effective solution speeding up the order-to-payment chain and ensuring drivers can be paid, goods can be moved and vehicles can be refuelled. With years of experience working with haulage, transport businesses like yours and our panel of funders, we make it easy for you to obtain the money you need for your business as quickly as possible.
CHOCS (Client Handles Own Collections) is readily offered to haulage and transport businesses. It is basically a kind of invoice factoring facility however instead of the invoice funder doing the credit report control you manage your own credit control. In a similar method to invoice factoring, but your client will not know there is a funding facility in place