Aldermore – a new British Bank - is launching a new funding package which aims to help commercial transport companies across the UK ease both their cashflow and fuel costs.
The facility combines an invoice finance facility with a fuelcard, helping firms release cash tied-up in unpaid invoices and receive up to 14 days free credit on all their fuel purchases.
The fuelcard can be used in over 1,900 refuelling stations across the country and Aldermore claims 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: “This initiative is designed to help ease the pressure on haulage firms’ cashflow by combining the benefits of an invoice finance facility with a fuelcard.
“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.”
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 fuelcard and invoice finance facility.”