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factoring for the construction industry

construction Factoring

Alliance Commercial Finance help businesses maximise their cash flow, by providing construction invoice finance and factoring solutions. Construction factoring and invoice finance is bespoke to the sector, ensuring solutions that work for your business. 

A contruction site

what is Construction factoring

  • Funding secured against existing and future contracts, JCT contracts will be considered

  • Up to 75% can be made available against each invoice or application submitted

  • Funding against applications and staged payments

  • All accounts are online making the funding process quicker

 

We understand that being involved in the construction industry can be like a rollercoaster ride; one minute you have no work, the next you have so much you're scratching your head wondering how you will fund it. No working capital can often mean long delays in the payment chain triggering cash flow problems. 

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Over the last few years there has been an increase in construction factoring companies willing to support those businesses who are working within the construction industry or who have to work with lengthy contracts. Our team at Alliance Commercial Finance are experienced in construction factoring and are here to help.

factoring for the construction industry

Factoring for construction companies enables contractors of all sizes to maintain a credit facility secured against the contracts, allowing you to continue working on existing projects, pay contractors and suppliers on time whilst helping you plan for future work.

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Most of the factoring providers will work alongside a quantity surveyor who will review the contracts you have and suggest a suitable level of funding against each contract, this can range from 25%- 75% depending on the complexity of the contract, what type of work is being undertaken and the terms and conditions within the contract itself.

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Structured staged payments or ‘Applications for Payments’ will be considered for funding, instead of having to wait for the payment to arrive, funding the application will provide you with an immediate cash flow solution to help towards materials and operating costs to allow the completion of the contracts on time.

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Most factoring facilities for construction will be confidential and allows your company to retain its credit control function, for example; you will still be sending out your own statements and carrying out your own credit management, a particular advantage if you wish the facility to remain truly confidential.

A construction worker wearing a hard hat and hi vis jacket

So, let Alliance Commercial Finance search the market place on your behalf at no cost to you. Contact us on 01789 761 374 and speak to an advisor today or alternatively fill in our quick quote form for a call back.

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