News / Rising demand for short-term credit as Covid drives down cash flow

ID 20633657 © Sergey Gavrilichev | Dreamstime.com

PayCargo Capital has reported rising demand for short-term credit as the Covid-19 pandemic spread.

Its facility allows carriers, forwarders and shippers in North America to apply for credit of between $25,000 and $2.5m for 15-30 days as a short-term cash flow solution.

“The relevancy of PayCargo Capital has grown since the start of the Covid-19 pandemic, as managing cash flow and paying for daily transport and related invoices can prove difficult,” said CEO Philip Philliou.

“Shipping lines and cargo airlines have enormous amounts ...