Transportation Funding solutions

Truck Factoring & Funding

Why Transportation Funding offers you more

One of the challenges faced by business owners is slow-paying clients. Waiting to receive payments, can hold you back.

If you trade with other businesses where invoicing is done in arrears, sometimes with payment terms between 30 to 60 days or longer from the date of invoice, it can be financially draining. It leaves you having to pay for fuel, drivers and repairs before you get paid, which means you can’t always invest in growing your business. This is where transportation funding or factoring comes in.

Transportation Finance, also known as Transportation Funding, Freight Bill Factoring, Truck Factoring and Transportation Factoring, finances your invoices, offering immediate payment. This means your working capital is not tied up in invoices.

Unlike traditional types of credit like overdrafts, business credit cards and lines of credit, factoring is quick to set up. It's an efficient and effective form of financing that grows as your company grows. Simply, it can take away the headache of working through how to pay your suppliers while still trying to invest in your business growth.


flexible funding options

Flexible Truck Funding Solutions

Bibby Financial Services offers flexible solutions for you whether you’re a freight broker, have one truck or more than five trucks. We offer different products depending on how many trucks you run.

Bibby Transportation Finance is designed to work with freight brokers or companies with five or more trucks. FreightCheck is geared towards companies with between one and four trucks. With FreightCheck, we can also offer full back-office support managing all invoicing for you. And with our FreightCheck App, you can fund your invoices while on the go.

Both solutions are flexible, aligned to your business. They allow you to continue to grow your business by bridging the cash flow gap between you issuing the invoice and receiving the payment.

Transportation funding could be right for you if your clients take up to 30 to 60 days or longer to pay and you need access to cash faster than that or you have other payments to make in the meantime.

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Why our clients choose us

Why our clients choose us

Transportation Finance and FreightCheck are not just products. We take a relationship-based approach to supporting your business.

If you want to work with a partner where 87% of clients genuinely believe we care about their funding needs and 86% of our clients agree that we’ve helped them to grow.

We’re on hand to offer expert support and to transport companies with services tailored to businesses with one to four trucks or 5 or more trucks.


How does it work?

As soon as we receive the copy invoice, we issue you with payment upfront and organize the collection of funds from your customer. Once we have the money, we release the rest of the money to you.

It works by you effectively selling your invoices to us, at a discount, so you can receive payment within 24 hours of invoicing your customer. It bridges the cash flow gap allowing you to better manage cash fluctuations in your business. It means you can plan ahead more easily, managing the peaks and troughs in your business.

Why do it

  • You get access to cash in 24 hours
  • You can focus on the day-to-day running of your business by spending your time finding, winning and retaining contracts, rather than focused on the administration
  • We can offer protection when your customers have a financial inability to pay

How do you qualify

  • You have to be a Carrier or Freight Broker
  • You need to maintain proper insurance and authority, working with creditworthy clients

FreightCheck App

FreightCheck App

Specifically designed for the owner-operator and small fleet owner on the go, the FreightCheck App puts you in control of your funding.

You can access and review current and historical applications at the touch of a button and enjoy the convenience of online funding without the hassle of keeping paper documents.

Submitting delivery documents is as simple as taking a picture on your phone. For your peace of mind, we encrypt all critical information and no personal data is stored on your mobile device.

Our FreightCheck App helps you fund your business while you’re on the go.

Find out more

Benefits of using the FreightCheck App

  • Upload and manage your funding directly from your phone no matter where you are
  • Access real-time information about your funding applications
  • Create new applications and upload load documents
  • Choose the loads you want to submit together on the same invoice
Download the FreightCheck app

  • Select how you want to get funded
  • Receive real-time feedback on applications to get funded faster
  • Instant messaging with your account representative helps you stay in control
  • Automated invoice creation and delivery

Which Truck Factoring product works best for you

Bibby Transportation Finance and FreightCheck

Bibby Transportation Finance

  • You're a business with five or more trucks or a Freight Broker
  • You're a young or an established business
  • You want flexible agreement terms
  • You want to remain in control of invoicing customers
Get a Quote

FreightCheck

  • You're a business with one to four trucks
  • You want full back office support invoicing customers
  • You don't want a contract
  • You have a low volume of invoices
  • You can use the new FreightCheck app which allows you to fund invoices on the go

How Bibby Transportation Finance works

Invoice

Step 1:

Invoice - Invoice your customer and send us a copy of your invoices

receive payment

Step 2:

Receive funding - we advance up to 95% of invoice value to you

receive payment

Step 3:

Customer payment - after customer payment, you receive the remainder of the invoice value minus any fees


How FreightCheck works

freightcheck

Step 1:

Proof of delivery - send us your proof of delivery

Icon Percentage

Step 2:

Invoicing and funding - we take care of invoicing your customers and we advance up to 97% of the invoice value to you

freightcheck payment

Step 3:

Customer payment - after customer payment, you receive the remainder of the invoice value, minus any fees


Why Bibby Financial Services

Why Bibby Financial Services

Our team of specialists have a detailed understanding of the transportation industry and enjoy helping businesses like yours grow more profitable.

We take pride in getting to know our customers, so we can get a real feel for your business. Really understanding your business means we have better information to make more meaningful decisions. And we work fast

We could be handling your invoices within days of us connecting.

We hold memberships in the Commercial Finance Association, the International Factoring Association, and the Turnaround Management Association, so you can be assured we take your business as seriously as we take our business.

Are you looking for an expert funding partner who specializes in supporting over 10,900 clients globally in over 300 different industry sectors with a collective turnover in excess of $12.4 billion.

Contact us today to speak to one of our team.