Covid loan helps Route Logistics secure move to larger premises

A move to a new base to secure the long term future of Northants haulier Route Logistics has been funded with help from a government-backed coronavirus lending scheme.

The haulage firm turned to Reach Commercial Finance to help facilitate the relocation to Rothwell when the Covid crisis presented a number of challenges.

The broker prepared an application for a coronavirus business interruption loan and from submission to funds received took less than six working days.

Amanda Wells, Route Logistics MD, said: “We knew this relocation was going to be crucial to the long term future of our business and while we were prepared to tap into our company reserves for a significant chunk of what we required for this exciting relocation, funding the whole amount ourselves would have added more concern in these uncertain times when cashflow is key.

“So we considered the option of funding via our bank but this seemed a lengthy process and we didn’t have time on our side.”

Route Logistics specialises in palletised distribution and holds an international O-licence authorising a total of 77 HGVs out of two operating centres in Northamptonshire.