Originally written by fundingoptions on Small Business
Despite the pandemic, the construction industry is growing at its fastest rate since 2014, according to the latest IHS Markit/CIPS Construction Purchasing Managers’ Index (PMI).
This trend is set to continue. Building works for both residential and commercial properties have continued throughout the last 12 months and more are in the pipeline as demand rises.
However, this surge in demand for construction services, alongside factors such as increased shipping costs, has left construction materials, including cement, some electrical components, timber, steel and paints, in short supply.
The Federation of Master Builders says this means some building companies may have to delay projects and others could close entirely.
Fortunately, there are lots of construction finance options out there to help affected firms manage their cash flow and pay suppliers and staff during this busy period.
What is construction finance?
Construction finance is a type of business finance designed for building contractors, sub-contractors and other companies operating in the construction industry.
Lack of funds can lead to delays which ripple down the supply chain. Construction finance provides businesses with the capital they need in order to fund their building projects.
Think of it as a kind of funding bridge: a solution to cover costs
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Business finance options for UK construction firms
by fundingoptions • • 0 Comments
Originally written by fundingoptions on Small Business
Despite the pandemic, the construction industry is growing at its fastest rate since 2014, according to the latest IHS Markit/CIPS Construction Purchasing Managers’ Index (PMI).
This trend is set to continue. Building works for both residential and commercial properties have continued throughout the last 12 months and more are in the pipeline as demand rises.
However, this surge in demand for construction services, alongside factors such as increased shipping costs, has left construction materials, including cement, some electrical components, timber, steel and paints, in short supply.
The Federation of Master Builders says this means some building companies may have to delay projects and others could close entirely.
Fortunately, there are lots of construction finance options out there to help affected firms manage their cash flow and pay suppliers and staff during this busy period.
What is construction finance?
Construction finance is a type of business finance designed for building contractors, sub-contractors and other companies operating in the construction industry.
Lack of funds can lead to delays which ripple down the supply chain. Construction finance provides businesses with the capital they need in order to fund their building projects.
Think of it as a kind of funding bridge: a solution to cover costs
Hot Business News Today
The benefits of applying for a second CBILS loan
by fundingoptions • • 0 Comments
Originally written by fundingoptions on Small Business
The Coronavirus Business Interruption Loan Scheme (CBILS) is proving to be a lifeline for businesses across the UK. Initially designed for those who’ve lost revenue or experienced cash flow disruption due to Covid-19, the scheme can also be used by businesses to grow and develop too. CBILS is part of a broad package of government support for UK businesses and employees.
CBILS loans of up to £5m are available on repayment terms ranging from three to six years. Businesses with a turnover of up to £45m can apply, and £4.97 billion of finance has been approved since the scheme began in March 2020.
If you’re one of the 82,000 plus companies who’ve already received a CBILS loan, did you know that you could be eligible for a second facility?
Who can apply for a second CBILS loan?
To be eligible for a second CBILS loan, you’ll have to meet the same criteria as you did for the first. For instance, you’ll need to show that your business would be viable were it not for Covid-19 and that it’s been negatively impacted by the pandemic.
Applying for a second CBILS loan can provide your business with the cash flow boost
Hot Business News Today
The benefits of applying for a second CBILS loan
by fundingoptions • • 0 Comments
Originally written by fundingoptions on Small Business
The Coronavirus Business Interruption Loan Scheme (CBILS) is proving to be a lifeline for businesses across the UK. Initially designed for those who’ve lost revenue or experienced cash flow disruption due to Covid-19, the scheme can also be used by businesses to grow and develop too. CBILS is part of a broad package of government support for UK businesses and employees.
CBILS loans of up to £5m are available on repayment terms ranging from three to six years. Businesses with a turnover of up to £45m can apply, and £4.97 billion of finance has been approved since the scheme began in March 2020.
If you’re one of the 82,000 plus companies who’ve already received a CBILS loan, did you know that you could be eligible for a second facility?
Who can apply for a second CBILS loan?
To be eligible for a second CBILS loan, you’ll have to meet the same criteria as you did for the first. For instance, you’ll need to show that your business would be viable were it not for Covid-19 and that it’s been negatively impacted by the pandemic.
Applying for a second CBILS loan can provide your business with the cash flow boost
Hot Business News Today
How to get a bridging loan quote
by fundingoptions • • 0 Comments
Originally written by fundingoptions on Small Business
If you require a short-term business loan to get your business from A to B, bridging finance might be just the thing you need. Use Funding Options’ bridging finance calculator to find out how much you may be able to borrow in the form of a bridging loan. We’ll ask for some basic information on how much you want to borrow, when you need the funds, what the finance is for (e.g. “property finance”) and your email address so we can provide you with your bridging loan quote.
Some business owners are unaware of the benefits of bridging finance and others are unsure of what it’s actually for. Read on to find out more about this unique type of business finance.
>See also: Common uses for bridging loans
What is a bridging loan?
Bridging loans are designed to “bridge a gap” in finance. Bridging loans can often be quicker to obtain than term loans; in some cases the funding can be ready in 24-48 hours. There are two main types: closed and open.
Closed bridging loans have a fixed repayment date (within a few months) whereas open bridging loans have no fixed repayment date, however lenders usually expect repayment within a year.
As
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SME bosses optimistic about funding options in 2018
by Owen Gough • • 0 Comments
The latest Aldermore Future Attitudes report reveals that three quarters (75 per cent) of SMEs, representing 4.13million* small and medium sized businesses across the UK, are confident that they will be able to access the funding options they need to grow their business over the next twelve months, compared to only 63 per cent in
The post SME bosses optimistic about funding options in 2018 appeared first on Small Business.
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The funding options for high risk businesses
by Owen Gough • • 0 Comments
There are certain businesses and start-ups that are considered to be very risky. Perhaps the founder has a poor credit history or has experienced bankruptcy, or maybe they are operating in a volatile industry. Nonetheless, there are some lenders and types of finance that understand that with high risk comes high reward and below we
The post The funding options for high risk businesses appeared first on Small Business.