Updated July 27th, 2022
If you are a UK haulage company, then you may be looking at Haulage Factoring for your unpaid invoices.
Lets discuss in this article how to get access to your Haulage debts without waiting 30-45 days, by using Invoice Finance.
Haulage Invoice Factoring & Invoice Finance
In recent years the UK logistic and haulage sectors has been revolutionised, with the introduction of tech 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 Debt?
The short answer is yes, you can using invoice factoring to release money tied up in unpaid Haulage invoices. These could be with direct clients or work done via a haulage tech platform.
However its important that you use a factoring company that understands how your invoicing works and also the process for invoicing.
There are invoice finance companies that specialise in providing both Factoring and Discounting to transport companies.
How Does Invoice Finance Work With Haulage?
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 any Haulage Platform Login details to finance company
- Complete your first new job
- Once approved funding will be released
Apply For Haulage 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 0161 5469128