Invoice Funding for the Construction Industry
Construction Invoice Finance facilities provide funding against Applications for Payment for the subcontractor sector. Specialist providers offer Invoice Funding for the Construction Industry against Uncertified Applications for Payment on a fully confidential basis.
With many years’ experience in Invoice Funding for the Construction Industry, we recognise the intense pressures facing your business.
Rising costs of raw materials mean many companies are working harder than ever just to stand still. And with traditional providers typically failing to lend to your sector, your options can be limited.
Construction industry factoring options give your business the specialist finance solution it needs. Enabling you to unlock the value of your unpaid invoices, factoring is an innovative finance option and a great alternative to overdrafts and loans. You’ll get up to 90% of the value of your invoices paid within just 24 hours – and you won’t have to worry about chasing your clients for payment.
- Receiving cash payments at the point of raising an Application for Payment (rather than waiting for it to be certified);
- Eases pressure on cashflow, allowing supplier and wage payments to be made in a timely manner;
- Non-disclosure of the funder to your customer;
- Provision of full, confidential credit control and sales ledger management services enabling you to maintain customer relationships;
- Added-value service in respect of contract management.
Due to the specialist nature of this service, prepayments against invoices and Applications can vary, typically between 25% and 90% depending on sector and the nature of the contractual work.
Typical trades supported are:-
- Electrical contracting
- Industrial cleaning
- Plastering / Dry lining
- Property maintenance
As this type of facility is considered to involve a higher risk to invoice funders than a traditional factoring facility, most construction funders would place more emphasis on business owners when undertaking their due diligence. In most cases invoice factoring funders will only commit if director/shareholders are houseowners.
More information is available on Invoice Funding for the Construction Industry on our website, should your require a quotation on funding please complete the online enquiry form and a construction funding expert will contact you by return.