Businesses within the haulage sector have experienced a significant change in demand over the last 12 months, whether it has been increased demand when supermarkets were in need or a decrease in required services as businesses ceased to trade. Invoice Finance can be very beneficial for businesses within the haulage and logistics sector. It allows businesses to benefit from extra monthly funds to invest in vehicles, keep on top of fuel and tax payments, as well as making sure employees are paid on time.
Below are just some of the recurring payments that haulage businesses have to consider:
- HP needing to be paid monthly for vehicles
- Drivers need to be paid weekly or monthly
- Insurance needs to be paid monthly or annually
- Fuel needs to be paid weekly or fortnightly
Any failure to make these payments can bring the business to a halt. If customers take 30, 60 or even 90 days to pay then cashflow can become a real issue – this is where Invoice Finance can help.
How does Invoice Finance work?
An Invoice Finance facility with Skipton Business Finance can help your business plug the gap in your monthly cashflow. You can gain access to up to 90% of your unpaid invoices immediately without having to wait for your customers to pay you for your services. Whilst Invoice Discounting can provide you with the cash you need upfront, it also offers a confidential experience where your customers will not know of your involvement with us. It allows you to maintain responsibility over your credit control process while still reaping the benefits of a better cashflow. Invoice Factoring allows you all the benefits of an Invoice Finance solution, but also gives you a ‘hands off’ experience as we take over your credit control process and chase customer payments for you.
What are the benefits for my haulage business?
- An improved cashflow means you will be able to meet fuel costs and keep your vehicles moving to meet the demands of your customers quickly and efficiently.
- Upfront access to your money means that you can meet important responsibilities such as employee wages and supplier obligations.
- You have the option to hand over the responsibility of chasing customer payments so you can concentrate on other areas of business.
- An Invoice Finance facility will grow in line with your business’s success, so you do not need to worry about the traditional restraints of funding options such as a bank overdraft.
- We understand that not every business will feel comfortable disclosing their association with an Invoice Finance provider, which is why there are many confidential options available. This means your customer does not need to know of your involvement with us, whilst you receive the benefits of a consistent working capital.
Find out more about the Invoice Finance products we can offer your business:
- Invoice Factoring
- Invoice Discounting
- My White Label
- Disclosed Invoice Factoring
- Recourse Invoice Factoring
- CHOCS Invoice Factoring
- Skipton Select - Interest-Free Invoice Factoring
- Confidential Invoice Discounting
- Disclosed Invoice Discounting
- Recourse Invoice Discounting
- Invoice Discounting for Small Businesses