Empowering carriers with cash-flow

The Australian logistics market is highly fragmented, with small and medium-sized carrier companies often finding themselves navigating cash flow challenges to keep afloat. With payment terms averaging 30 days or more in the industry and the substantial operational expenses (both recurring and unexpected) that carriers encounter, managing cash-flow can become a daunting task. 

Fortunately, Ofload has extended its’ partnership with Butn to offer its carrier network two new exclusive financial products with industry-leading rates - FastPay and PayLater - which carriers can now access directly within Ofload’s platform.

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Introducing FastPay

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FastPay enables carriers to receive payment in advance for non-Ofload loads.

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While invoice financing usually requires businesses to get finance on all their invoices, FastPay enables carriers to select the invoices they require funding for.

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This innovative solution provides carriers with the much-needed flexibility to access their funds in an instant, without the lengthy wait typically associated with payment terms, and still maintain 100% of the relationship with their customer.

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Introducing PayLater

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This financial product addresses the recurring and unexpected expenses that carriers face in their day-to-day operations. With PayLater, Butn covers 100% of the business expenses incurred by Ofload carriers, allowing them to manage their cash flow effectively. Carriers can then repay these expenses over a three-month period, reducing the immediate financial strain caused by operational costs.

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How can I get started?

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Both FastPay and PayLater have been crafted with simplicity and speed in mind. Carriers can easily upload their selected invoices directly within Ofload's platform, and payment processing is completed within a few hours only.

This quick turnaround time ensures that carriers have access to the funds they need when they need them, eliminating the stress associated with waiting for payments or managing unexpected expenses. The result? More financial flexibility and more time to grow your business!

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Step 1: Sign in to your Ofload account

• Register for a Butn account in the Fintech section
• Fill out company & director details, consent to a credit & bank check and sign the agreement

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Step 2: Upload the invoices & get funding

• FastPay: receive 85% of the invoice amount (minus the service fee) within a few hours
• PayLater: Butn pays your supplier 100% of the invoice within a few hours

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Step 3: Pay back your loan

• FastPay: receive the cash owed by your customer, and get debited 85% of the invoice on the due date
• PayLater: you get debited in 4 instalments over three months

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Not a carrier? Sign up here.

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This extended partnership between Ofload and Butn represents a significant step forward in supporting the financial well-being of small and medium-sized carrier companies. By providing access to these exclusive financial solutions, Ofload is empowering carriers to navigate the complex financial landscape of the industry more effectively.

These two new financial solutions aim to make cash flow management less challenging for carriers, ensuring that they can focus on what they do best - delivering goods efficiently and reliably. With Ofload's continued dedication to innovation and support, carrier companies can look forward to a brighter and financially secure future in the logistics industry.