Case Study: Cargo Logistics

“A link stands when there’s no diesel. Growth Finance gives us cash from our invoices, so our trucks keep rolling.”

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Case Study

Cargo Logistics

Carmen and Pierre Fourie built Cargo Logistics from the ground up, starting with small subcontract jobs and cash loads. Today they run nine super links — a mix of Scania and Volvo, the link of choice of South African long-haul. Their breakthrough came with a subcontract from Imperial Logistics, hauling dry FMCG loads for Pick n Pay and Shoprite into Botswana and Namibia.

The Imperial Logistics work keeps Cargo Logistics very busy and it is a profitable business, but Imperial’s payment terms are heavy: sometimes 60 days from the load before we get paid.

“In trucking, cash is king,” says Carmen. “The trucks are hungry every day. Diesel, tyres, spares — nobody gives that on account. If you don’t have the cash, you don’t move.”

Drivers also need their pay on time. “You can’t tell a driver, wait a month for your money. It doesn’t work like that,” Pierre adds. “Every load we pull costs money before we even leave the yard.”

Growth Finance keeps Cargo Logistics moving by paying out 85% of our invoices upfront. “A faktuur doesn’t buy tyres, cash does. That’s why Growth Finance helps a helluva lot.” says Carmen. “With Growth Finance behind us, we keep the links on the road, cross-border loads delivered, and our delivery promises to Imperial are kept.”
SUPER SIMPLE FUNDING

Is invoice discounting for you?

You get immediate access to income you have already invoiced but would otherwise only receive from your customer at a future date (30 or 60 days later) because of your agreed payment terms. Discounting invoices enables your “terms” business to run as a COD business. You then enjoy all of the benefits of a cash business whilst being able to give your valuable customers payment terms; often a stronger negotiating tool than lower prices. Invoice discounting accelerates your cash flow and opens up so many trading options.
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How does it work?

1. Deliver your products (or services) to your customers and invoice them on your normal 14, 30- or 60-day payment terms
2. When you need access to cash flow, send one or more of your outstanding invoices to us
3. Your customer confirms the invoice
4. We pay you up to 80% of your invoice immediately
5. Your customer pays the invoice directly to us
6. When your customer pays, we pay you the other 20% of your invoice less our fee

Is invoice discounting for you?

Looking to grow turnover?

New customer requires a 45-day account, but your cash flow won’t stretch?

Landed that dream order and need access to your cash locked in your debtor’s book?

Unexpected business expense?

Is your bank not ready to grant or extend your overdraft?

Yes?
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Do you qualify?

Time in business

6 months or more of revenue

Annual turnover

R1m +

Location

Registered in South Africa