Answering your questions
Construction Finance provides instant funding against uncertified and certified applications for payment and invoices raised at completion. We help you to meet your payment obligations throughout the various stages of a contract and take on more work knowing you have reliable funding in place.
Construction funding is ideal for contractors and sub-contractors who work under framework agreements or POs that can result in late or partial payments for work completed. It gives you certainty over the funds you have available and releases cash while you are waiting for your applications to be paid. It can also help businesses who need to manage seasonal ﬂuctuations or who want to take on new projects without taking on extra debt.
Construction Finance helps you improve and control your cashflow, so you can run your business smoothly and efficiently. By advancing cash against the value of invoices, you can pay wages, buy materials and settle debts while you are waiting for payment.
When bringing you onboard we will work with you to make sure the funding you get is exactly what you need. This means that the length of time to have everything in place can vary depending on how complex your business situation is. We work flexibly, from the point of meeting you to understand your needs. Generally, we can set up a facility in a matter of days, however this depends on the speed in which we can access the information we need.
Unlike more traditional forms of financing, we can be incredibly flexible on set up, this can be a matter of days, depending on how quickly you can complete and return the paperwork.
If your client doesn’t pay within the agreed period, also known as the recourse period, usually 90 days, funding will be removed unless protected by Bad Debt Protection cover. You have the option to protect against customer insolvency with Bad Debt Protection.
As industry specialists, The Vinden Partnership can review your contracts and support you on contract and liability matters. You can also benefit from access to additional advisory services from The Vinden Partnership, which includes arbitration at discounted rates.
The cost will depend on the services you wish to use as part of any agreement. If you would like to request a quote, simply fill in our short form and we’ll send you the information you need.
Helping construction businesses manage their contracts and take on new projects
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