Invoice Factoring For Construction Companies
Cash flow is critical to construction companies and invoice construction finance can help fund the gap between raising bills or applications for payment and getting paid.
Running a construction business presents many challenges and getting paid is probably at the top of the list; however, having the right construction finance in place is critical to maintaining sufficient cash flow to meet the demands of running a successful business.
Invoice Factoring For Construction Companies can help you put together a flexible and tailored cash flow finance solution using invoice discounting or factoring. These cash flow finance solutions are often the most effective solution for construction companies and are growing rapidly in popularity. The number of construction companies using invoice finance jumped 27% in 2017.
Staff need paying, tool hire, materials and plant all need to be settled month end before companies are placed on stop, Invoice Factoring For Construction Companies helps overcome this issue by funding your application for payments or invoices.
Construction Finance is even available against uncertified applications for payment, unlocking valuable cash flow to your business rather than facing delays while you wait for applications to be certified.
Stage payments, uncertified applications for payments, and the contractual nature of debts make it difficult for construction companies to secure construction finance from traditional lenders.
It’s not easy to maintain a healthy cashflow and that affects your day-to-day operation as well as your ability to tender for new projects.
Both invoice discounting and invoice factoring provide an immediate cash payment based on of the value of your billing or applications for payment, enabling you to take advantage of preferential early payment discounts with your suppliers, maintain a healthy cash flow and increase your cash flow as your turnover grows.
The fact that the facility is linked with your sales allows you to grow your business without any of the usual cash flow worries. Funding is available within 24 hours of raising a bill or application for payment.
If your construction company needs construction invoice finance please complete the online application form and a Construction finance specialist will contact you by return.