Funding Solutions

Construction Finance

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Catering specifically to businesses in the construction industry

Catering specifically to businesses in the construction industry, construction finance is designed to ease the strain of cash flow problems that can occur from late payments and long payment terms - two of the biggest problems plaguing the industry. Construction finance is a way of injecting cash into a business against uncertified applications for sales invoices, staged invoices or final payments due.

Essentially, construction finance is a way of bridging the gap between work being fully or partially completed and the customer paying you. The most common form is a type of invoice finance facility specifically catered towards the construction industry. There are specialist construction finance products available, administered by experienced construction finance professionals who are well versed in contractual debts.

What are the benefits of construction finance?

There are a number of reasons why a business may apply for construction finance, such as:

  • Quick access to cash upon completion of works or applications for payment
  • Greater financial freedom which can be used to pay staff wages and suppliers
  • Improved business cash flow
  • The ability to take on new jobs without worrying about waiting for payment on a previous project
  • Facilities can be confidential - your customers and suppliers won’t know that you have been granted funding

Who can apply for construction finance?

You may be eligible to apply for construction finance if any of the following apply to you:

  • You are a main contractor or a subcontractor
  • You have a CIS UTR number
  • You are able to raise applications for payments
  • You are able to raise invoices, even for stage payments when contracts are incomplete
  • Find out more about construction finance

    If your business operates within the construction sector and you believe it would benefit from a new or improved construction finance facility, make sure you seek appropriate advice to understand the options available. ICS’ Funding Solutions team can help with that.

    Get in touch with our team today on 0800 731 2466 or fill in the form on our contact us page and one of our experts will contact you as soon as possible.

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