Invoice Discounting Haulage Company
Haulage Company
Our client is a major international haulier. They operate out of the UK but handle a lot of backloads for European clientele which means that a large percentage of their invoices are raised to companies outside of the UK.
Due to the rising fuel prices, exchange rate movements and the general state of the economy their bank no longer wanted to support them. They had approached several invoice discounting companies. While the client wanted confidential invoice discounting the lenders would only offer factoring facilities. This was not what our client wanted as they felt that they had the strongest relationship with their debtors and as such were best placed to collect the debts.
Within the market of invoice discounting companies only a small percentage will lend against a large proportion of export invoices. As a result the market place of lenders who were able to help were limited. In view of the financial situation they were in very few lenders would help.
We were able to introduce a lender that looked past the financial state of the business and focussed on the debtors and the quality of the audit trail. As a result they were happy to provide a confidential invoice discounting facility to the haulage company.
