financing a new truck? Have you thought about your clients’ cashflow?
Once your SME clients have accessed manageable truck finance, there are other ways to maximise cash flow in your client’s business, so they are never stuck without funds.
If your client is a small transport business, there will of course come a time when they need to apply for truck finance.
As you know all too well, trucks are expensive vehicles. Unless the business has a surplus of cash, they’ll need to access funds to buy a new or second hand truck. The good news is they can now access a low doc loan for a truck valued at or below $150k with thornmoney, plus there is a range of different options for loans above this amount.
At thornmoney, we help transport companies all over Australia to access truck finance by working directly with the brokers as well as the business owners. To make the asset finance journey easier, we have online systems such as the Broker Portal and application processes that are strongly backed by technology and offer a streamlined experience for all stakeholders.
why choose thornmoney for truck finance?
We are owned by ASX-listed Thorn Group Limited, which provides us with strong financial security and know-how. With thornmoney, funding has evolved to be faster and smarter. This means you can get a quote or a deal online at any time.
As well as being focused on technology and simplified solutions, we care about relationships. It means a lot to us to be able to get to know the brokers and your clients and find out more about how we can support you.
When you choose thornmoney for your client’s truck finance needs, you will have access to a competitively priced loan and be able to pay it off in installments, which of course makes cashflow management so much easier. However, many of our clients and the brokers who represent them aren’t aware that we can provide further support when it comes to having money to hand when you need it; in the form of invoice finance.
invoice financing: the right solution for transport businesses
Transport businesses often have a shortfall between bills being paid by your clients and you servicing loans, paying staff etc.
A credit card can help to fill the gap, but this only gives business owners a set amount of cash and usually charges high interest. What’s more, with a credit card, it’s up to them to make repayments on time, and it can be easy to forget.
Invoice financing is a far more flexible solution. When a client sets up an account with thornmoney, they can access the funds they are owed by their customers in hours rather than 40-90 days. This gives the businesses the cash they need to meet truck finance obligations and stay on top of other expenses.
Invoice finance is so much better than a credit card because it is designed to accommodate the changing needs of the business. What’s more, interest rates are far more competitive.
Businesses that use thornmoney for invoice financing can connect our platform to their Xero, Quickbooks or MYOB account. These ‘speak’ to each other, so the business receives the funds they need without having to apply or fill out forms every time they issue an invoice.
If a business owner’s juggling driver salaries, 60 day payment terms and truck finance repayments, invoice finance can bridge the gap and give them peace of mind.
let’s help your clients
Brokers! Next time you’re looking into asset finance, don’t forget to ask about how invoice finance can provide an additional solution when it comes to cashflow. Our helpful team is always available to discuss the different options and let you know how this solution can work for your business.
Disclaimer: This information is for general information purposes only. Therefore, the information contained herein does not constitute financial or professional advice or a recommendation. Ultimately, it has not been prepared with reference to your financial circumstances or business and should not be relied on as such. You should seek your own independent financial, legal and taxation advice as to whether or not this information is appropriate for you.
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