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Funding a construction firm is considered one of the more challenging tasks in the world of finance. But there are solutions. The payment terms are often unfavourable in an industry which can often include multiple layers of contractors and subcontractors, forcing you to wait 30-120 days to receive payment from work which you have already completed. So if you’re wondering “what is construction finance?” and “how can it help my business?” read on below.
This can stop even the most profitable firms from getting on with the next job and growing their business. Having immediate access to this cash will allow you to pay for staff, materials, equipment hire and other suppliers required so you can bid more competitively on those large upcoming projects. Just what you need when margins are already tight.
This cash flow solution comes in the form of invoice/application factoring which will help you increase the size of the projects you can take on. Construction factoring allows you to effectively advance the major part of the payment(s) you are expecting to receive from a job you have completed so you don’t have to wait the full 30-120 days and can get on with funding the next project.
Highly flexible and tailored to your needs
What’s more, this theory can be used for invoices, applications for payment and retention ledgers. Fill in the quote form on this page to learn more about construction factoring from the experts in business funding. There is no charge for using our service.
Our tailored approach means you have the flexibility to find a solution which is right for your construction company. Our consultants will ensure you get the best construction financial services from the right lender for your situation. Some of the other useful services which can be included in construction finance include:
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"Very polite and a professional team of financial advisers who seem to know their business, work well within their industry and get a result."-Invoice Finance Introduction
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