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Even as the economic outlook gets darker, the financial services market for the road transport industry is attracting more players. HSBC is promoting two key services: Equipment Finance and Invoice Finance. The former provides funding from capital expenditure on vehicles and despite being a highly competitive area, HSBC believes it can differentiate itself from its rivals. Chris Howden, head of HSBC's commercial vehicles division, explains: "We understand that our customers want vehicles on the  road as quickly as possible, at the right price.

"Our staff who deal with CVs do nothing else their desks are covered with issues of Motor Transport and other papers, they attend trade shows - they understand the assets and the road transport business." All customers have two staff dedicated to their sector and where possible, HSBC tailors its service to a company's needs.

For example, if there is any seasonality in a business, then repayments would reflect this. The Invoice Finance division manages businesses' debtor books. "Most businesses will say an issue for them is cashflow. But underneath is the concern: am I going to get paid on time by customers to give me the cash to fulfil my overheads?" says Michael Brady, central sales manager of HSBC Invoice Finance.

"Apart from equipment, the biggest asset any transport business has is its debtor book. We'll value that, and judging by your [customers' payment history] 85% to 90% of that is recoverable. We then provide  money on the back of that debt. We also help businesses collect their debts quicker," he adds. Meanwhile, commercial finance broker Creative Business Finance has set up The Debt Boutique, which provides funding in £1m-batches on five-year terms.

Director Mark Blayney expl-ains: "It is frustrating when we find clients with financing needs, such as a requirement to borrow against expected future cashflows, which existing sources of funds cannot meet. "We want more businesses to think about growth and we believe we can help businesses realise their ambitions."