The construction industry has always played an important part in the continued growth of our economy. Bibby Financial Services works closely with many construction companies and we know that, much like other sectors, SMEs, contractors and business owners who operate within the industry often face financial trouble.
Cashflow is vital for the growth of any business that offers construction services. Fulfilled contracts and customer payments can often take time, leaving SMEs out of pocket chasing invoices. But by utilising finance options, contractors and business owners can easily take control of their cashflow complications by the use of cash advances against outstanding billing and uncertified applications.
Specialist funding is an option which many in the construction industry are now taking advantage of. Services like Construction Finance offer cash advances against outstanding billing, allowing SMEs and business owners to access money earlier.
Lenders like ourselves fund applications before they are certified whilst providing confidential credit control and sales ledger management services allowing businesses to maintain their customer relationships.
How does it work?
This works smoothly, with a percentage of an agreed invoice value sent to the business owner within 24 hours of the bill being sent, leaving the remaining percentage (minus fee) returned upon customer payment.
This process can help to maintain a healthy cashflow for those in the construction industry who often find their financial situation is out of their hands.
Bibby Financial Services
As the UK’s leading independent invoice finance specialist and a trusted provider of cashflow funding to over 7,000 businesses, Bibby Financial Services provides a range of finance solutions for businesses in over 300 industry sectors.
For more information about Bibby Financial Services’ cashflow solutions, visit: www.bibbyfinancialservices.com or call 0800 91 95 92.