Phil Trueman, from Reach Commercial Finance, has recently supported a start-up haulage business embark upon its journey to success by securing a six-figure funding line.
“We were approached for help in sourcing finance for a start-up client.”
“In response, we secured an Invoice Finance facility, which also included Bad Debt protection for the new-start Lancashire-based haulage business.
“We also advised on operator licencing and insurance to comply with market regulations, ensuring that the correct level of fleet and professional insurance was also secured at a competitive rate.
“We developed the funding proposal in collaboration with the client and accountant, providing a detailed cash flow forecast and business plan to underpin it.
“An eye for efficiency is essential in the haulage business. Financials are very important, and operators must keep track of profitability in view of changing commodity costs, amongst other factors.
“This is a new business, which is starting out with two trucks. We’ve been working together for nine months and there is still more work to do and our partnership continues.
“The company director is, however, highly ambitious and aims to grow the company quickly. I’m very much looking forward to supporting him.”
Find out more about Reach Commercial Finance’s approach to securing lending for SMEs here.
Testimonials from some of our clients and partner lenders are here.