Construction finance caters solely for businesses in the construction sector and aims to help business owners grow by taking on work they otherwise wouldn’t be able to fund. Offering a project finance facility that funds individual debtors to support contractors and sub-contractors.
Why is it important to you?
The product itself is very simple and should provide a great solution in the following circumstances:
• You have an order book, or the chance of additional work, that will put your existing financial arrangements under pressure.
• You require flexibility and don’t want to lock yourself into a conventional invoice factoring provider.
• You would prefer an additional source of funds that works comfortably alongside your existing financial arrangements.
• You would prefer the expertise of a lender who truly understands construction.
• You want clarity of pricing and do not want to be prone to the opportunistic charging of a locked in lender.
How does it work?
• The facility can fund individual contracts and debtors but can look at small ledgers also.
•It can cater for deals with a minimum exposure of £25,000 and a maximum exposure – usually £150,000 but, by prior agreement £250,000.
• All applications for payment will be reviewed and the lending facility will be reviewed by an experienced Q.S. team.
• There is no tie in period and no upfront arrangement fees.
For further information contact our Specialist team.