What is Construction Finance?
What is Construction Finance? Construction Finance is a funding and support solution that provides instant and ongoing working capital throughout various stages of a construction sector contract. In simple terms you submit an application for payment and a factor will advance funds of about 90% of the submitted invoice within 24 hours. This construction finance solution is also known as invoice Factoring or Invoice Discounting. Like to find out more and gain some inside as to what is construction finance ?
Construction Finance or Invoice Funding for Construction Companies is for contractors and sub-contractors that provide services to main contractors under a contract, framework agreement or purchase order. Sub-contractors or construction company’s, are no longer required to wait for payment before starting on the next phase of a project or simply start a new construction job. Invoice Financing for Construction Companies eliminates this issue. Contractor’s and construction business can realise tied up outstanding invoices within 24 hours in to working capital. Construction Invoice Finance also covers the early payment of Application for Payments so you do not have to wait up-to 120 days to get paid.
Construction Finance Helps...
When looking to fulfill contracts, 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. Construction Finance helps by providing upfront funding against certified and uncertified applications for payments and invoices for work completed. This gives businesses peace of mind that they have funding in place at every stage of a contract.
Key features of Construction Finance.
- Funding for uncertified and certified applications for payments and invoices raised on completion
- A dedicated point of contact and access to senior decision makers
- Complete credit control and confidential options available
- Meet payment obligations and take on more work with reliable funding in place
- Receive a fast, informed and tailored service you can trust
- Support from payment collection experts and peace of mind that your clients are unaware of your facility
Why choose Construction Invoice Funding Services
Invoice Funding have over 20 years experience of funding Construction business as well as supporting SMEs. As one of the first independent factoring brokers to develop a specialist solution for the construction sector more than 10 years ago.
Unlike other Invoice Factoring Brokers, our team of dedicated construction finance experts respond quickly to enquiries. Helping our clients to access the funding and support they need, when they need it.
Services for Construction Sector
We also provide additional services for our construction sector clients including:
- Asset Finance, to help you buy vital plant and equipment without the huge upfront costs
- Bad Debt Protection, giving businesses peace of mind that customer non-payment will not impact cash flow.
- Access to additional advisory services from CRS Partnership, a leading multi-disciplinary consultancy
Need to know more about Construction funding packages we offer? please complete the online enquire form and a Construction funding expert will contact you by return.