Supporting UK construction since for over 15 years
Understanding the needs of the sector
In 2004 BFS, already with a number of contractors as customers, realised there were two major concerns affecting contractors and subcontractors alike given the unique nature of the construction sector – cash flow and the need to access finance. So we developed a product that would overcome those concerns, Construction Finance.
Going from strength-to-strength, through the 2008 financial crash, our construction finance team helped many contractors and subcontractors survive, then plan for growth. This lifeline was critical as back in 2017, a report for the Dept. for Business Innovation & Skills confirmed traditional bank lending (loans) for contractors crashed to just 19% from 32% in 2009. Most vulnerable were subcontractors, those more likely very small SMEs.