Finance for small transport and trucking businesses
Recently we have noticed a surge in the number of small trucking businesses approaching us for assistance with their cash flows. The main cause of pain for these companies is the fact that the truckies need to purchase their fuel upfront nad cannot get credit to obtain it.
Fortunately, the recent falls in fuel prices will be easing their margin pressures, but it is not enough to completely neutralise their cash flow issues.
The pressure on transport businesses is now as high as ever (even with lower fuel prices), as the lack of trade credit makes it just as hard to keep their vehicles on the road. Factoring is only one part of the solution.