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Invoice Finance for haulage businesses: How does it work and what are the benefits?

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.

Invoice Discounting: Benefits for business

Within Invoice Finance comes an array of solutions that could be beneficial to a business. Many business owners are put off Invoice Finance because it often comes with the preconception that it involves the funder chasing customers for payments. There a large range of solutions where this is not the case.

Looking to escape a restrictive overdraft but still want the benefits of improved cashflow?

Many businesses still fund their cashflow through a traditional bank overdraft. It’s only when they come to renew it or look for an increase, they may find their bank is unwilling to go the extra mile. Overdraft providers tend to base their underwriting decisions on past financial records rather than where a business is going. If the business is going through a difficult period, they can find themselves with facilities being withdrawn or at the very least see increased fees.