Business financing for transportation companies
Business Financing for Transportation Companies in the UK
There are nearly 60,000 road freight companies in the UK, but despite the industry’s size and importance, UK transport businesses are under threat. There’s no need to face this threat alone though; affordable, accessible business financing from a trusted lender can give your company the edge it needs to survive.
✓ £10k – £1m advances
✓ Funds same day or within 24 hours
✓ Haulage, logistics & couriers
16%
rise in the price-per-mile cost for UK road transport vehicles over the last three years.
Merchant cash advances
Useful for small to medium expenses such as working capital, fuel and utilities, with flexible repayments for seasonal businesses and tight budgets.
See how it worksThe challenge
Why might transportation companies need business financing?
There are a myriad of challenges those in the UK transportation sector are facing, many of which need cold hard cash to overcome.
Workforce shortages
There is currently a shortfall of 50,000 HGV drivers in the UK, and other transport subsectors are seeing similar issues.
Rising costs
The cost of operating an HGV has increased by 10% over the last 12 months alone.
Uncertainty and regulation
Brexit, Budget changes and changes to tax laws are all creating budgetary pressures.
Technological advancements
A transition to digital in all areas of business operations requires investment in technology and staff training.
Environmental concerns
Fuel consumption and emissions are an integral part of operating, making energy efficiency a key concern.
Supply chain resilience
Truck operators are experiencing extreme difficulty in obtaining new vehicles in a timely manner.
Use it your way
How can transportation companies use business financing?
Different transport businesses have different goals, and may be facing different challenges. Business financing can be used for almost any business-related expense, including:
89%
of all freight in the UK is moved by road.
Staff wages, training and hiring
Vehicle and equipment purchase
Maintenance and repair
Fuel
Inventory
Licensing and permits
Insurance
Technology
Rent, mortgage and property costs
Utilities
Paying suppliers and contracts
Working capital
How Swiftfund funds transport businesses
Merchant cash advances
Applicants need to meet fewer criteria to access merchant cash advances than traditional business loans, and the cost is agreed up front.
01
Receive a lump sum
Funds are released up front, ready for working capital, fuel, inventory, utilities and more.
02
Repay as you trade
Flexible repayment terms that adapt to changing sales volumes, with no set term.
03
No interest
No interest is charged – instead the total cost is set at the start of the agreement and does not change.
✓ Always unsecured – no business assets tied up.
✓ Fewer eligibility criteria than traditional business loans.
✓ Ideal for seasonal businesses and those with tight budgets.
Compare your options
What types of business financing are available to transportation companies?
There are almost as many types of financing as there are ways to use it – here are the most common options.
Swiftfund
Merchant cash advances
Swiftfund advances£10,000 to £1,000,000 · no interest
Useful for small to medium expenses, such as working capital, inventory, fuel and utilities, with flexible repayments.
Apply nowTraditional business loans
Typical£5,000 to £750,000 unsecured · 7% to 15% APR
Useful for large, long-term expenses for well-established businesses, but applications can take several weeks to process.
Online business loans
Typical£5,000 to £750,000 · 4% to 30%+ APR
More flexible eligibility requirements, with some lenders offering approval within just a few days.
Equipment loans
TypicalFrom £1,000 · from 6% APR
Usually secured against the equipment – and can only be used to pay for specific equipment, no other expenses.
Business lines of credit
Typical£1,000 to £250,000 · 9% to 25% APR
Useful for occasional borrowing needs, but eligibility is strict and applications can take several weeks.
Community and government lending
TypicalSmall business loans · varies
Can be extremely cost-effective, but criteria are very restrictive and it may take weeks or even months to access financing.
Talk to Swiftfund today
If your transport business is considering financing, Swiftfund can help. Speak to one of our experts today.
Getting funded
How can a transportation company get business financing?
Every lender has their own application process. To get your Swiftfund advance approved, all we require is:
Step 1
A quick application
Step 2
6 months bank statements
Step 3
A copy of your I.D.
At Swiftfund we provide fast working capital for your business; our aim is to get you the funds the same day, or within 24 hours.
Start your application
What types of transportation companies can get business financing?
Businesses of all sizes in the transportation industry are eligible for business financing, including those in haulage, trucking, logistics, warehousing, couriering, removals, and air, rail, sea and passenger transport.
How quickly can I get financing for my transport business?
With Swiftfund, you can usually expect an offer within around 2 hours of applying. Once we have your bank statements and ID, we approve within the hour and can fund within the hour after that – so your funds are usually with you the same day, and within 24 hours. The only thing that holds funding up is missing paperwork.
Can I get financing if my business is new or has bad credit?
Don’t worry if your business is very small, new, has a low credit score, or inconsistent revenues – you will still be able to access financing, just not every type.
What’s a merchant cash advance?
A merchant cash advance offers flexible repayment terms that adapt to changing sales volumes, with no set term. No interest is charged – instead the total cost is set at the start of the agreement and does not change. It’s useful for any business that accepts card payments from its customers.
Ready to fund your transport business?
We provide advances from £10,000 to £1,000,000. All we require is a quick application, 6 months bank statements and a copy of your I.D.