Address:
128 City Road, London, EC1V 2NX
- Home
- Business Finance
- Loans
- Industries
- Blog
- Apply Now
According to research, by 2027, the transport and logistics industry is expected to reach $12,975.64 billion. This progress is not difficult to accept. This industry is the backbone of not only billions of businesses but also of nations. The logistics and transport sector takes care of the production, storage, inventory management, delivery and distribution. These are the prime pillars of numberless businesses operating at national and international levels. This is why the need for consistent cash flow for the firms in logistics sector is very obvious.
With the help of transport and logistics business loans in the United Kingdom (UK), the firms in this sector can improve their productivity. To serve their B2B customers, they can ensure timely and safe availability of vehicles and product delivery. However, it is always a matter of concern to choose the loan option best suitable for a logistics company that can offer up to £500,000 for a maximum of 60 months.
The options are many and applying to individual lenders many times is a headache. You can understand this chaos if you run a business in this sector. It can be annoying to go through the application process for different lenders and wait for uncertain approval.
The ideal approach is to hire a loan broker. TheBusinessFunds is a UK-based logistics business loan broker. We can assist you in finding the appropriate deal with a panel of promising lenders. You need to fill in some of your details on our website, and we will shortlist transport and logistics finance options for you. Our experts will share a comprehensive list of lending companies. Take your time, compare the rates and repayment plans and let us know. Once you finalise a lender, we will process the loan for you. Let us know you better through a click here.
Without any second thought, the logistics and transport industry has faced numerous challenges in recent years. The struggle that started from Brexit (of course, for good) continued with some issues presented by the pandemic. Challenges will surely come with growth opportunities from then to now and even in the future. This has made the firms seek funds and depend on a transport and logistics business loan broker.
Below are some common reasons that transport and logistics firms apply for a business loan.
Driver Shortages
According to the last data that is last year, the UK is facing a drop of 15% in driver availability. Also, before 2024 ends, the driver qualification card of half a million drivers will expire. The companies need to hire new drivers, and also they need to retrain the drivers with qualification cards about to expire.
Loneliness and stress are among the prime reasons drivers leave their jobs. Also, there are few new applicants for the job. As a result, the logistics firms offer easy incentives to inspire drivers. All these situations demand more funds, which drives toward external help from companies and brokers providing commercial finance services for transport and logistics businesses.
Sustainable practices are in demand
Sustainable businesses that are friendly to the environment get more consumers nowadays. A thorough concern for eco-friendly practices makes logistics companies follow sustainable practices. They must consider alternative fuels, report their emissions, and replace fuel-efficient engines. All this indicated they need to invest in nature-friendly infrastructure. This can be expensive at first but a profitable option later. However, the companies contact a transport and logistics business finance broker to find affordable options. As market experts, we can filter the affordable lenders from the ocean of possibilities.
Volatile fuel prices
Global and national issues, seasonal changes, political controversies, and conflicts between oil and gas producers present many challenges. This drastically increases the fuel prices. This tells us that situations are never easy for logistics and transportation business owners. Uncertainty is the only specific companion in their business. They must depend on unsecured or secured business loans to keep pace with the circumstances. Yes, the companies keep their emergency funds, but a rise in fuel prices always demands more funds than one can expect.
The above are the most common challenges for the logistics sector businesses. But as you know, every industry has challenges, and ample loan options are available, especially for financial issues. At TheBusinessFunds, we give you access to the best lenders in the market. Your only role is to let us understand your business, and then we will find loan options for you. Whether it is truck finance or loans, or any other specialised finance option, we can find lenders from our panel.
For varied requirements, various types of logistic loans are available. Borrowing funds according to purpose allows you to get funds at a lower rate. The more relevant a loan product is, the easier the approval chances will be.
Invoice financing is a popular loan type that allows a business to borrow funds against unpaid invoice bills. When the customers pay the bill, the money goes to the lender. It has some immediate benefits
This is another reliable Transport and Logistics Finance option that logistics firms have used for decades. These loans are obtained to meet everyday business needs. The relevant benefits are
As you can understand, the long-term finance options are for a longer tenure. When business owners need a bigger amount, these loans, such as truck finance, are the great options. The benefits are
These are short-term loans and do not need collateral like long-term loans. The businesses have many short-term funding requirements. An unsecured loan is always a dependable source for them. The benefits are
We understand the meaning of trust you show in us. As a logistics loan broker, we do everything to ease your journey as a borrower. We find the best transport and logistics business loan options for your commercial needs in the following ways. Your transparency to our team of experts helps us find the right lending solution.