Many matters relating to construction are singularly sector specific. As far as invoice finance is concerned, many factoring companies have struggled to fully understand the particular requirements of construction firm owners, other tradesmen running businesses in related fields, and contractual debt issues.
In order to supply to demand, we have formulated construction industry invoice financing, in acknowledgement that one cap far from fits all. We work with lenders who specifically deal in the construction sector, and our aim is to secure a great working match that will not turn your businesses processes upside down.
Debt fears allayed
In the cases of the vast majority of regular funders, appropriate insurance policies offer them protection against bad debt schemes. However, such policies tend only to be applicable and effective for outstanding invoices. They do not offer safety nets for applications for payment. Help is at hand, as we have managed to secure specialist insurance cover that offers back up against both your outstanding invoices and your applications for payment. This duly allows you the luxury of getting on with the business of running your construction business, with the peace of mind that you are paid, even in worst case scenarios of customer insolvency.
Sector specific expertise
The real benefits of specialist knowledge are highly advantageous to construction business owners. First and foremost, bespoke solutions are designed to secure the most favourable amounts of cash on your behalf. However, better understanding goes hand in hand with better service levels. You might naturally be wary of entrusting your affairs to a client manager who struggles to speak your language and does not possess a comprehensive understanding of matters such as applications for payment, retentions, and stage payments. Our construction finance professionals do, offering you every assurance that they can proficiently advise and help you, not the other way around.
Improved credit control
With a specialist construction finance team at your disposal, you have direct access to the services of recovery professionals who can navigate the minefield of contractual disputes on your behalf. You additionally have access to credit controllers with time served experience in managing and collecting unpaid contractual debts. This can be undertaken on a confidential basis if you are concerned about any resultant knock on effects to your customer relationships.