Finance your construction project to improve your business
Do you find it difficult to receive a suitable finance product from your bank? Did you ever thought about cheaper commercial loans?
Construction invoice factoring is a reliable alternative to business loans. Invoice finance is a way of borrowing money against the value of your unpaid invoices, where you can get your advance of up to 90% of the invoice value within 24 hours of issuing your bills.
Construction firms find it an easy product to use: in stead of waiting for big incoming payments, the factoring company supplies the money within 24 hours, allowing you to pay for materials and labor, and to help you competitively bid on other jobs.
Benefits of construction invoice finance compared with an commercial loan
- Invoice Finance will typically provide you with a larger upfront cash injection.
- The facility is linked to your sales (not your balance sheet) and will therefore grow with your business.
- Invoice Finance can be a cheaper alternative to a commercial loan.
- Financial planning is made easier, as agreements are for a fixed period and are not repayable on demand.
- With Factoring, you can outsource management of your entire sales ledger (should you so wish) saving you both time and costs.