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Invoice Finance for the UK Building and Trades Sector

Improve cash flow in the UK Building Trades? Get tailored invoice finance (inc. construction finance) solutions via Nexgen Business Finance. Get funds fast.

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Invoice Finance for the UK Building and Trades Sector
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Invoice Finance for the UK Building Trades Sector

Businesses in the UK building trades sector, such as contractors, builders, and subcontractors, often face cash flow challenges due to long payment terms, with clients like developers or local authorities taking 30, 60, or even 90 days to pay invoices. For example, a contractor might wait 60 days for a £30,000 invoice for a construction project, delaying their ability to pay suppliers, cover labor costs, or start new jobs. Invoice finance offers a solution by allowing you to borrow against your unpaid invoices, providing immediate access to cash. In this guide, we’ll explore how invoice finance can benefit your building trades business, the steps to get started, and how NexGen Business Finance can help you maintain steady cash flow.

Benefits of Invoice Finance for the UK Building Trades Sector

Invoice finance can transform your cash flow management, especially in an industry with delayed payments and high material costs. Here are the key benefits:

  • Fast Access to Cash: Receive funds quickly, often within 24 hours of submitting your invoices, so you can pay suppliers, cover labor costs, or purchase materials for new projects without delay.
  • Flexible Funding Options: Scale your financing as your business grows, whether you need invoice discounting or factoring to suit your project-based billing cycles in construction.
  • Competitive Rates: Enjoy transparent pricing with low fees, ensuring cost-effective access to working capital for your building trades business.
  • No Additional Collateral: Your invoices serve as the security, so there’s no need to risk other assets like tools, machinery, or vehicles, which is ideal for asset-heavy construction businesses.

Steps to Use Invoice Finance

Getting started with invoice finance is straightforward and can integrate seamlessly with your building trades operations. Follow these steps:

  1. Onboard Your Business: Provide basic documentation, such as your company details and invoice records, to set up your account with a finance provider like NexGen.
  2. Submit Invoices Promptly: Forward your unpaid invoices to your provider as soon as they’re issued. Most providers accept invoices for completed projects, subcontracting work, or material supplies, typically due within 30-90 days.
  3. Receive Funds Quickly: Get an advance—often up to 90% of the invoice value—within 24-48 hours, allowing you to cover operational costs or start new projects.
  4. Manage the Process: Monitor payment collection through your provider, who may handle collections for you (factoring) or let you manage them (discounting). This ensures your cash flow aligns with project timelines.
  5. Plan for Growth: Use the immediate cash flow to take on larger projects, invest in new equipment, or hire additional workers, such as a £100,000 contract for a commercial build.

Frequently Asked Questions

Ready to Improve Your Cash Flow?

Invoice finance can be a game-changer for your building trades business, providing the cash flow you need to take on new projects and grow. At NexGen Business Finance, we’re here to help you find the best invoice finance solution. Contact us today to get started.

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Nexgen Business Finance Limited is an independent finance brokerage not a lender, as such we can introduce you to a wide range of finance providers depending on your requirements and circumstances. We are not independent financial advisors and so are unable to provide you with independent financial advice. Nexgen Business Finance Limited will receive payment(s) in the form of commission from the finance provider if you decide to enter into an agreement with them. We work with both discretionary and non-discretionary commission models. Commission payments are factored into the interest rate you pay. Nexgen Business Finance Limited is an Appointed Representative of AFS Compliance Limited which is Authorised and Regulated by the Financial Conduct Authority FRN: 625035 Nexgen Business Finance Limited aims to provide our customers with the highest standards of service. If our service fails to meet your requirements and you would like to report a complaint; please click on the link below

Nexgen Business Finance Limited Company Number: 13948675 and Registered Address: 11, Brookfield, Duncan Cl, Northampton NN3 6WL. ICO Reg: ZB308746

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