Aldermore targets haulage industry with invoice finance & fuel card package
Aldermore, the new British Bank, is launching an innovative new funding package to help commercial transport companies across the UK ease both their cashflow and fuel costs.
The facility combines an invoice finance facility with a fuel card, meaning that not only can firms release cash tied-up in unpaid invoices, but they will also receive up to 14 days free credit on all their fuel purchases. The fuel card can be used in over 1900 refuelling stations across the country and haulage operators have the potential to save up to 3 pence per litre on diesel over a 12-month period.
Darren Cottenden, Head of Road Haulage Funding for Aldermore Invoice Finance, said:
“The UK transport industry, which accounts for more than 50,000 transport firms and approximately 425,000 vehicles, has had to endure the double-whammy of reduced business levels and increased fuel prices over the past couple of years.
“This initiative is designed to help ease the pressure on haulage firms’ cashflow by combining the benefits of an invoice finance facility with a fuel card. The cost of fuel will be debited directly from the operators finance facility and they will benefit from up to 14 days free credit on all their fuel purchases.
“The facility is available to any size of firm, which will receive support from a dedicated haulage industry finance expert based in one of our regional offices. The combination of invoice finance and a fuel card is unique in the UK and we anticipate significant interest from transport operators.”
Lee Atkinson, Partnership Manager at The Fuelcard Company which is administering the card scheme on behalf of Aldermore, said:
“We’re delighted to be working with Aldermore to help launch this unique combination of a fuel card and invoice finance facility. I’m sure it will prove to be very popular with UK hauliers.”
Aldermore is also considering adding additional finance facilities to this new initiative over the coming months, to help operators finance new vehicles and purchase commercial premises.
Haulage operators can obtain further information by going to www.aldermore.co.uk or by phoning 0800 021 7040.