Finance For Construction Businesses
Get Fast Finance For Your Construction Business
Finance your construction business in as little as 24 hours. We offer a range of products to suit your business needs.
Over 30,000 loan-seekers helped
FCA Authorised – Regulated Broker
Receive your funds in as little as 24 hours
Market-leading interest rates
Experienced Advisors
No Broker Fees
Author: Gary Hemming CeMAP CeFA CeRGI CSP
20+ years experience in commercial finance
If you run a business in the construction sector and are looking for finance to take your business forward, there are several options available.
Whether you’re looking to raise working capital finance, equipment finance or property development finance to fund a ground-up build, we can help.
What is finance for construction businesses?
Finance for construction businesses allows you to secure the funds needed to take your business forward.
Companies in the construction sector can have complex financial needs and require specific types of funding at different times.
Many businesses in the sector operate on delayed payment terms, with significant upfront costs of doing business, which can make even the most profitable businesses cash poor.
Get construction business finance with ABC Finance
We’ve been securing finance for businesses since the year 2000 and in that time we’ve built deep relationships with the leading lenders.
Here’s a bit about ABC Finance:
- We were established in the year 2000.
- We help business owners to secure the best deals in the market.
- Our focus is on securing finance quickly and without hassle.
Choose your product or get advice from our construction finance experts
We offer you 2 ways of getting the finance you need for your construction business – read the guide below to find your perfect product and apply, or get in touch and we’ll do the legwork for you.
Our team are easy to deal with, will quickly understand your business, find the best deal and make the application process simple.
How to get finance for your construction business
To get finance for your construction business, the first step is to understand why you need finance and which product best meets that need.
The main options are:
Unsecured business loans
The most well-understood way to borrow money is a simple business loan. An unsecured business loan allows you to borrow anything from ÂŁ10,000-ÂŁ500,000 in as little as 24 hours.
It’s a great tool to finance ongoing business operations and allows you to repay the funds over anything from a few months to 5 years.
Unsecured business loans are a great source of working capital or business growth finance and can be arranged in as little as 24 hours.
Quick summary:
- No collateral required
- Borrow ÂŁ10,000 to ÂŁ500,000
- Get funds in as little as 24 hours
Secured business loans
If you’re looking to borrow larger sums of money (although these loans start from just £6,000), or are happy to provide collateral, secured business loans are a strong option. They allow you to borrow money secured against the equity in either your personal or business property.
Secured business loan criteria are more relaxed than unsecured lending as the lender has collateral over your property.
It takes a bit longer to get secured finance. You can expect to receive funds 7-14 days, but it’s possible to borrow much larger amounts – up to £10,000,000 depending on the value of your property.
Quick summary:
- Borrow up to 75% of your property value
- Borrow ÂŁ6,000 to ÂŁ10,000,000
- Get funds in as little as 7-14 days
Invoice finance
A great source of cash flow funding is invoice financing. It allows you to release funds from the B2B invoices that you’ve issued, but not yet received payment for.
Invoice finance, which can be broken down further into invoice factoring and invoice discounting allows you to release up to 95% of the value of your unpaid invoices.
When taking on a large project that is paid in arrears, the cost of hiring a team and purchasing equipment can put a major strain on cash flow.
If your business is looking to speed up its cash flow cycle, invoice finance can do exactly this. Some facilities, such as debt factoring, even offer credit control functions to free you up to focus on running your business.
Quick summary:
- Receive funds in as little as 3 days
- Release up to 95% of the value of your unpaid B2B invoices
- An ongoing facility that can improve your cash flow
Asset finance
Asset finance allows you to raise finance to purchase machinery or other assets for your business. It’s a form of equipment finance that allows you to finance new assets through various products that work as loans or leasing arrangements.
Asset finance can be arranged very quickly, in just as little as 24 hours, with the application process usually taking a few days. The amount you can borrow will depend on the value of the assets you’re securing against. For large purchases, millions of pounds of finance can be arranged where needed.
If you’re looking to release funds from assets you already own, consider asset refinancing.
Quick summary:
- Funds can be released in 24 hours
- Finance to purchase or refinance equipment and assets
- Borrow almost any amount
Business revolving credit facilities
A business revolving credit facility allows you to borrow and repay funds as you need them. Think of it as a separate facility that’s on hand when you need it – like an overdraft.
These facilities can be arranged in just 24 hours and allow you to borrow anything from ÂŁ5,000 to ÂŁ500,000 without the need for collateral.
Quick summary:
- No collateral required
- Borrow ÂŁ5,000 to ÂŁ500,000
- Funds in as little as 24 hours
Van finance
If you’re looking for money to purchase a new vehicle, or even a fleet of vehicles, consider business truck finance or business van finance.
You can get finance for a new vehicle in a couple of days, often at much better rates than you’ll be offered by a dealer.
Quick summary:
- Often better rates than a dealer will offer
- Get funds in a couple of days
- Finance to buy or release funds from a vehicle
Property development finance
If you’re building a project from scratch, property development finance is the perfect option for you.
Once built, you can consider development exit finance, also known as sales period finance to reduce your interest costs.
Development finance can take a while to complete, so if you’re looking to secure a site quickly, consider a bridging loan as a short-term solution.
Commercial mortgages
A commercial mortgage allows you to borrow money against your business premises. They can be used to purchase or refinance existing premises and allow you to borrow large amounts of money over up to 30 years, meaning you’ll benefit from low monthly repayments.
Commercial mortgage rates are often much lower than other forms of finance, but the application process is very slow – usually taking at least 2 months. If you need property finance quicker, consider a bridging loan, which can complete in 5 days.
Quick summary:
- Has the benefit of low interest rates and monthly repayments
- Allows you to borrow large amounts
- The application process usually takes at least 2 months
Secure the finance you need with ABC Finance – get started now
We compare the best deals and make securing finance quick and easy for your construction business.
Whether you’re looking to start a construction business, grow an existing one or just need support for your cash flow with a working capital boost, we can help.
We compare deals to get you the lowest repayments, best interest rates and make sure you get the money you need when you need it.
Keep reading: Finance For Roofing Businesses or Business Finance For Plasterers or Scaffolding Business Finance.
