Funding options for construction businesses.

Construction firms are often faced with long payment terms and late payments, and contractors and sub-contractors often find that they don’t have sufficient working capital to pay costs, such as weekly and monthly wage bills, and raw materials.

Invoice Finance is an ideal working capital solution for construction businesses, but because the work being carried out is often billed for in stages, and subject to contract, most factoring companies are not interested.

But cash flow funding products designed specifically for contractors and sub-contractors working in the construction industry are available.

Construction Finance is a specialist funding and support solution designed for contractors and subcontractors who provide construction services under a contract, framework agreement or purchase order.

It provides funding by advancing cash against the value of invoices raised on the completion, or part-completion for staged contracts, of work carried out.

The following types of payments can be funded:

•  Certified/Uncertified applications for payment
•  Milestone invoices
•  Signed Variation Orders
•  Approved Day Works

Construction Finance improves cash flow taking the pressure off late payment concerns, even during lengthy contracts.

And it gives you the financial security to secure bigger contracts.

Remember, if you are looking to spread the cost of purchasing construction equipment, asset finance is a better option.

And you can also raise additional working capital by refinancing equipment you already own.

Do you need funding for your construction business? Contact us now for completely free, no obligation advice.