There are a number of Courier Finance options available such as Invoice Factoring and asset finance for vehicles.
Lets explore the different business finance options you can get as a courier business.
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Courier Finance Options
As a courier business you could be dealing with your customers direct or via one of the UK’s many freight exchange platforms for hauliers and courier business owners.
Some of these platforms allow courier companies to quickly link up with freight forwarders and other companies that need to make deliveries.
However with many customers direct or otherwise, you may need to wait 30 or even 60 days until your invoice is paid.
In order to plug this gap in cash-flow you may need a suitable finance facility to help you business grow.
Finance Options Available:
Lets looks at each one in more detail below.
Courier Invoice Finance Options
There may be more than one funding option available to your business, dependant on a number of key factors.
Some High Street banks may not be familiar with how some courier platforms work and therefore may not offer funding.
However there are specialist funder’s available that will fund against invoices raised using Courier platforms and database services.
Lets cover some of the options.
Invoice Factoring For Couriers & Transport
With Invoice Factoring you can get access to up to 90% of your invoice value straight away. So as soon as you complete a courier job and raise an invoice, you can get the funds.
Once your customer pay, the finance balance is repaid along with any fees and the reminder is added to your available funds.
- Funds Available In 24 Hours
- Access Up To 90% Of Outstanding Customer Invoices
- Revolving Credit Facility
- Grows With Your Business
We can source a lender that will provide Courier Factoring, get in touch to discuss today.
Invoice Discounting For Couriers & Transport
Another finance options is Invoice Discounting, this is similar to Factoring but is done on a confidential basis.
This option is usually only available to more established companies (2 Years + Trading) and higher turnover.
- Confidential Invoice Discounting
- Release 90% of Unpaid Job Invoices
- Minimal Debt Verification
- Keep In House Credit Control
Related Article: Haulage Factoring Invoice Finance
Courier Asset Finance – Vans & Trucks
As a courier business your most important asset is your vans and trucks for making deliveries. You can spread the cost of buying a new or used delivery van by using asset finance.
- Term from 12 months to 60 months
- Funding available within 1 working day
- Hire purchase, Leasing and Refinance
We can also release equity from existing vehicles with asset refinance.
Get A Quote For Courier Finance & Invoice Factoring
We work with a number of funders that will consider funding against invoices raised on various Courier platforms. We can also help with finance for vans and trucks.
Please get in touch to speak with one of our independent business finance experts.
Please Call 0161 5469128 or fill in the contact form below