Haulage finance and HGV loans

Moving stuff from A to B is big business. In 2022, Ireland road freight market was worth more than  €3.8billion – and the industry has grown with 1.3% over the past five years.

Transporting everything from car parts and canned peas to soft drinks and summer shoes, truckers and the 5,200 firms they drive for are the lifeblood of our economy. 

However, booming as business may be, many haulage businesses still struggle to pay the bills. A difficult mix of slow paying customers, expensive vehicles, rising energy costs, and increasing regulations is creating a cashflow crisis with firms of every size. Fortunately, haulage finance and HGV loans are available to ease the economic pain. Use them to pay for everything from buying trucks and buildings, to paying tax, covering wages, or filling up the tank.

Read on to find out more about affordable haulage finance and HGV loans, and how they can put you and your haulage business firmly in the driving seat. 

Quick and straightforward haulage loans and funding

Irish road hauliers operate in an industry where time is money. Waiting for cashflow to improve so you can buy urgently needed parts and equipment or purchase the new vehicles you need is not an option. Waiting means losing out, which is why financing these kinds of needs immediately makes sound business sense. Buy what you need now, pay back over time, keep the pipeline moving.

There are many types of haulage finance and HGV loans, and they may be arranged quickly and with little fuss. Often, the funds can be in your bank account within 2-3 days of your application. In many cases security is not required, and even if you have poor credit or have been turned down elsewhere, it may still be possible to provide the funding you need. 

Fast, affordable, long-term or short-term loans are available for every type of haulage business:

  • Sole operators
  • Limited Companies
  • Partnerships
  • Franchises
  • LLPs
  • Private individuals

What type of funding is available?

For every haulier’s need, there’s a low-cost loan to solve the problem:

Asset finance

Expanding a haulage fleet is expensive, which means buying vehicles with cashflow can be slow and difficult. Speed the process with asset finance, a form of lease that you can use to buy heavy goods vehicles, trailers, loaders, and other types of haulage equipment. Use the purchased item while you pay for it – with repayment terms from 1 to 5 years. The asset acts as security for the loan.

Invoice finance

Invoice finance unlocks the financial potential of unpaid invoices. Instead of waiting 30, 60, 90 days or more for customers to pay, hauliers can borrow against their accounts receivable. Unlike factoring, where the borrower sells the invoices to the lender, invoice finance allows the haulage business to retain control of their sales ledger. Clients need never know you are borrowing against your unpaid bills. No added security is required.

Funding for premises and expansion

Commercial mortgages are long-term loans used to buy property for your haulage business. Borrow up to 90% of the purchase price, with the property providing security for the loan. Pay the loan back over 1 – 25 years. Alternatively, development loans can be used for new construction or the re-development of existing business premises. Pay for extensions, vehicle parking space, retrofitting, refurbishment, etc.

Acquisition of an existing haulage business

Depending on the structure of the target business and what is being bought, (is it just goodwill and contracts? Is property included? Is there a lease to acquire?), haulage firms may use a commercial mortgage, a development loan, or a small business loan to acquire another haulage company. Loans can be paid back over 1 to 25 years. In most cases, no added security is required.

If you are buying into a franchise operation, specialist franchise finance may be the best route to pay the franchise joining fee and setting-up expenses.

Operational costs

Cashflow is the engine that drives every haulage business. Expensive vehicles, high maintenance, rising labour costs, heavy regulatory burdens and fees, they all eat into the money stream and sometimes they can bite too hard, leaving your business stuck in first gear and struggling. A revolving credit facility may be your answer to this problem. These loans function like a bank overdraft, allowing the borrower to dip into an open credit facility when funds are needed. The borrowing is repaid from incoming business receipts. Security may be required.

Working capital finance

Working capital finance is short-term borrowing used to plug dips in cashflow. Suitable for almost any day-to-day expense. Pay for supplies and services, wages, distribution costs, fuel, maintenance expenditures and more. May be obtained with or without security.

The application process

Before you apply for any type of business loan, make sure you have the necessary paperwork in order. Having all your ducks in a row will avoid delays and reduce the chance of disappointment.

  • Most recent three-years bank and tax records.
  • Cashflow forecast.
  • Profit and loss statement and recent balance sheet.
  • List of major customers and suppliers.
  • Copies of customer contracts.
  • List of assets, – vehicles, equipment, property, inventory.

Top Tip: Some lenders may ask for a personal guarantee by the business owners or directors to secure the loan. If they do, they will check their personal credit scores. Don’t get caught out by an error on your credit report, always check your business and personal credit scores before you apply.

How to find the right funding for your haulage business

Haulage finance and HGV loans are a niche area, with different rules of application. Borrowers seeking these types of loan may find themselves forever searching and making applications to lender after lender. The delays this can create could harm your business. Instead, working with a broker who can access haulage finance and HGV loans from a wide range of lenders is a better way to go. No more cold calls and endless demands for information. Simply tell us what you need and leave the rest to us. 

Get started with Swoop

Don’t let funding issues put a brake on business. For the best rates, the best terms and the best haulage finance and HGV loans, get started with Swoop today.


Written by

Chris Godfrey

Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.

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