I really am not the brightest when it comes to matters financial, but going into an unauthorised overdraft is going to lead to bank charges. Our works bank account costs us nothing, because of the factoring. Possibly I’m lucky because there are clauses/penalties in our work contracts to cover delays etc, the haulage equivalent of going into overdraft. 
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I do think schools should teach more financial stuff. What the use is trigonometry to the average person, yet a lesson on APRs is more relevant. Never understood those, beyond credit cards cost a lot if you have a debt.
Most people abuse the positive cash flow, and spend it on flash cars…just an observation 
My last “proper” bank manager, before they were rebranded “relationship managers”, told me to stay well clear of this product
Its something that has always stayed with me, you cannot beat free advice
I find it easier to work with customers who pay on time 
I have totally abused the cashflow, last year I bought - wait for it - a 7 month old Combo van. With air con. Big improvement on the precious 10 year old Combo
If I get my invoice in for the 15th, it’s paid on the 30th, so it’s between 15 - 45 days usually, that’ll do me.
A lot of people that have never had factoring are against it, whereas I’ve had it for 17 years and I find it a really good option. i do think it has to be approached carefully and it isn’t for everyone, but if you can not borrow against it, it’s available money for emergencies, new vehicles and that’s the trick, build up enough to treat it like a current account. It also saves on an admin function in the office.
albion:
I have totally abused the cashflow, last year I bought - wait for it - a 7 month old Combo van. With air con. Big improvement on the precious 10 year old Combo
If I get my invoice in for the 15th, it’s paid on the 30th, so it’s between 15 - 45 days usually, that’ll do me.
A lot of people that have never had factoring are against it, whereas I’ve had it for 17 years and I find it a really good option. i do think it has to be approached carefully and it isn’t for everyone, but if you can not borrow against it, it’s available money for emergencies, new vehicles and that’s the trick, build up enough to treat it like a current account. It also saves on an admin function in the office.
You are obviously disciplined, there are loads out there who are not, I`ve met with / dealt with plenty who are pretty clueless, and should not be anywhere near the company cheque book 
Its not for me
niteliner:
There is nothing wrong with our module or capitalisation. Have a chance of very good work but pays 60 days so exploring various solutions.
I guess you could try and reduce your liability then niteliner. If you’ve only the ‘chance’ at the moment, could you just reduce the amount of work you do for them, maybe two days a week? Or does the standing costs and no other work prohibit that option? If terms are 60 days end of month, then perhaps only start working for them from last week of April to get paid 1st week of July? At most, do you only need to support diesel costs ? Say £750 a week for nine weeks? Maybe a partner may suit you? I’ve backed people with building projects before such as house builds and land purchases before, but there’s obviously tangible assets there, for my security, not sure how it could work with trucking and your situation.
MATE OF MINE SWEARS BY THEM , THIS ISNT JUST HEARSAY, I LOOK AFTER THINGS WHEN HE GOES ON HOLIDAY, SILVERBURN IN BOLTON, AS LONG AS YOU GET INVOICE AND PODS OFF TO THEM SAT MORNING , £££ IN BANK WEDS DINNERTIME , AND HE GETS A REBATE EVERY 6 MONTHS IF HIS CUSTOMER HAS PAID ON TIME , ALTHOUGH ,LIKE SOMEONE ELSE SAID, THEY WANT ALL YOUR INVOICES, BUT BEWARE , SOME CUSTOMERS WONT ACCEPT FACTORED INVOICES, SO, DO WHAT I DID, ASK THEM IF THEY ARE OK WITH FACTORED INVOICING, IF THEY SAY NO, SIT THERE LOOKING SHOCKED, AND LIKE HAPPENED TWICE TO ME, THEY SAY , WELL WHAT IF WE PAY YOU FORTNIGHTLY FOR FIRST MONTH OR 2,