Their experience lending directly to your sector can not only help you to source the funds you need, but also help you to select a product to drive your business forward.
Purchasing a new taxi or vehicle for your chauffeur business is costly at the best of times and is often ruled out as an option due to a lack of immediate capital. A range of asset finance options are available to help you overcome this hurdle, including hire purchase, contract hire and finance leasing.
If your business regularly invoices business clients for its transportation services then consider invoice discounting or invoice factoring as a viable solution to protecting your cash flow. Rather than having to wait for your customers to settle their outstanding invoices, you can advance up to 95% of the total amount in as little as 24 hours.
Do you find your business taking regular credit card payments from customers? You may be eligible for a merchant cash advance. Borrow funds and repay the outstanding balance each time a customer makes credit or debit card payment through your EFTPOS terminal.
Having enough money to take care of daily business expenses such as fuel, premises rental, vehicle maintenance and staff wages is essential for any taxi or chauffeur business. Working capital finance provides you with the funds to take care of these key business costs, structured over a term that won't hinder your cash flow.