The types of invoice financing for the construction industry
Release cash against certified and uncertified payment applications, staged invoices or sales invoices.This means your contracts can run smoother as you’re not held back by cash flow problems, helping your business thrive. With contract work usually taking the form of milestone invoices, it can be challenging to continue buying materials you require to complete the job when you haven’t received payment.īy having an invoice finance facility in place, means you can confidently complete the job to a high standard without having to chase for client payments. With the help of up to 95% of the invoice value, you’ll now have the working capital to use to help complete the job at hand. Knowing where you stand financially can lift the pressure off your shoulders as you carry out your contracted work. You could struggle to grow your business with a cloud of financial uncertainty over your head. If your clients have 30, 60 or sometimes 90-day or more strict payment terms, it can be challenging to manage cash flow adequately. Why your construction business should consider invoice financeĪs with many industries, construction companies aren’t exempt from cash flow issues. It’s quick, stress-free, and best of all - you don’t have to worry about cash flow again. With construction finance, you can receive up to 95% of the invoice value in as little as 24 hours. You can look to address these cash flow issues, creating a more stable cash flow to help your business grow.Ī shortage of money may mean you can’t spend money on necessary expenditure, including building materials, staff wages, supplier payments, bills and other expenses. Not only is cash flow one of the biggest obstacles for businesses, but it can also create lags in construction projects at every stage. If you’re facing the pressures of paying suppliers and employees due to unpaid invoices - construction finance can help support your business and offer the healthy cash flow required. This can be for works carried out within a contract, construction agreement or purchase order. Invoice Factoring for U.S EuroTruck2.Construction finance (also referred to as 'construction factoring') is a funding solution for contractors and subcontractors through which cash is advanced based on the value of raised invoices.
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Are you tired of being told “No” over and over again when you are looking for working capital for your Commercial construction company? Most factoring firms wouldn’t even consider construction factoring or commercial construction funding but we aren’t MOST factoring firms Facebook data.ĭue to a very strong level of interest we have received from Commercial construction companies nationwide, Drake Finance is proud to offer a new service by partnering with leading firms in the Factoring industry to now be able to offer Construction Factoring Free Word. Construction Invoice Factoring & Accounts Receivable Factoring ServicesĬommercial construction companies nationwide that need to purchase materials and supplies, cover payroll, provide leverage when negotiating contracts with suppliers, and businesses who want to accelerate their construction company’s growth without borrowing any money my hometown at 6 o'clock.
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