Invoice Factoring for a Railway Contractor
The business provides cable pulling and troughing to the railway industry via the well known railway railway contractors.
This represented a good opportunity for our client but also caused a cash flow headache.
Their bank was unable to assist in providing a suitable cash flow solution because the work was contractual and they received stage payments. In addition they were required to submit applications for payment to the main contractors for work completed. These are common problems faced by many contractors in all areas of the construction industry that are seeking cash flow finance. If you are facing these issues it may well be worth reading about how to finance applications for payment.
Their customers were of a good quality but unfortunately they were slow payers which caused cash flow problems as our client was paying wages weekly.
We were able to find a lender that understood the sector and was able to provide cash flow finance by way of invoice factoring to the business. This enabled the business to grow knowing that they could meet their weekly wage requirements.
We have an excellent understanding both of the construction industry and also the providers within the invoice finance market that can provide funding to the construction sector.
This means we can save you time by only introducing you to lenders that can genuinely assist and save you money by ensuring you access the most competitive funding.
If you are a rail contractor or perhaps even another construction contractor looking for a suitable cash flow solution, please contact Funding Solutions today on 0845 251 4040.