Trading conditions remain undeniably tough for businesses operating within the construction industry, as highlighted by a slight 0.5 per cent drop in output during the final quarter of 2011.
One of our Factoring and Invoice Discounting Partners has been actively working with firms in the construction sector for many years and advances more than £30 million every year to a variety of medium and large contractors.
We recently approached one of our Factoring and Invoice Discounting Partners to refinance a sub-contractor customer who is a leading player within several regional markets with a strong reputation for delivering on its contract commitments. However to its detriment, its bank had categorised it as ‘higher risk’ solely because of the sector in which it operates.
Our Factoring and Invoice Discounting Partner needed to take into account circumstances including the diverse nature of its work streams as the firm works for both house builders and a variety of contractors, and the fact it operates under multiple and varying types of contract. The correct funding solution needed to be carefully thought through.
The Factoring and Invoice Discounting Partner utilised their own expert advisors to gain a thorough understanding of how the customer’s business worked to ensure the right funding package was implemented, whilst also working with a leading niche bank provider to refinance the firm’s wider bank facilities. This successful partnership ensured the business had a firm funding platform for growth and is now looking forward to meeting its ambitious aspirations for future expansion.
www.firstfactoruk.com works with specific Partners who specialise in bespoke Factoring and Invoice Discounting solutions to the construction sector and that form of finance offering is available to sub-contractors that operate under most forms of construction industry contracts.
Companies with turnover of up to £50m, and requirements up to £5m can be assured of the best match to the most appropriate funder via www.firstfactoruk.com!
Features provided by our chosen Factoring and Invoice Discounting Partner include:
- Has ability to provide confidential funding against outstanding billing and uncertified applications for payment under contract
- Our Partner has significant experience in helping business owners manage working capital requirements and realise ambitions for growth
- Expertise built over many years in various trade sectors in structuring funding facilities for many sub-contractors
- Management and collection of outstanding contract debts conducted by own team of Specialists
- Specialist bad debt protection against billing, including applications for payment
For more information about our Factoring and Invoice Discounting Partners please contact firstfactoruk.com and be assured of excellent and prompt service!