If you are a UK haulage company, then you may be looking at Haulage Exchange Factoring for your unpaid invoices. Lets discuss in this article how to get access to your Haulage Exchange (HX) debts without waiting 30-45 days, by using Invoice Finance.
In recent years the UK logistic and haulage sectors has been revolutionised, with the introduction of tech platforms. The Transport Exchange Group, is transforming the industry with its Haulage Exchange (HX) and Courier Exchange platforms.
Anyone can now go into the platforms and bid for work on a daily basis. However many of the jobs on there are paid on terms of 30-45 days, this can leave a huge gap in cashflow. Especially with fuel bills and drivers wages to pay.
Can You Invoice Factor Haulage Exchange Debt?
The short answer is yes, you can using invoice factoring to release money tied up in unpaid Haulage Exchange invoices. However its important that you use a factoring company that understands how the HX platform works and also the process for invoicing.
There are invoice finance companies that specialise in providing both Factoring and Discounting to transport companies using the platform.
Getting confirmation of every small invoice raised through your Haulage exchange app will be very time consuming. Therefore you need a finance provider that will use your Haulage Exchange login to verify your debt and release your funding.
Fill in the form below to get a quote.
How Does Invoice Finance Work With Haulage Exchange?
With the help of a broker, it usually takes around one week to set up a new invoice factoring facility and pay out your first invoices. Below is the usual process
- Get an Invoice Finance Quote
- Submit Application
- Sign Agreement & Provide Identification
- Provide Haulage Exchange Login details to finance company
- Complete your first new job via HX
- Once approved funding will be released
Apply For Haulage Exchange Factoring Today
As an independent invoice finance brokers, we can source the funding you require.
We are experienced in Factoring, Discounting and the logistcis sector.
Fill in the form below for a quote or call 01204 860113