• Help For A Roofing Contractor Declined Due To A CCJ

    I wanted to share this interesting case that we are in the process of assisting. It concerns a roofing contractor, working within the construction sector, that has a low value CCJ (County Court Judgement) from several years ago.

    Construction Sector Funding

    Firstly there is the issue of the company operating within the construction sector, of course not all invoice finance companies will deal with construction related companies, however there are a growing number that will provide construction sector funding. Even if a company raises applications for payment, instead of invoices, these can still be funded by these providers. They often use specialist Quantity Surveyors in order to understand the underlying contracts that can be involved.

    The second issue is of course the presence of previous adverse credit history, in the form of the court judgement, albeit from several years ago.

    Declined For Invoice Finance Due To A Court Judgement

    The company had approached us as they had just been declined, at the last minute, for a invoice finance from one of the growing number of selective invoice finance companies that have recently entered the UK market. I found this particularly interesting as the day before I had a conversation with a colleague who told me that he suspected that some funders had hardened their risk stance - making it harder for customers to get business funding.

    Getting Business Finance Despite Judgements

    Within the invoice finance sector there are providers that will still be prepared to overlook this type of previous poor credit history, as they tend to base their funding decisions on the quality of the book debts. This can be good news if you want to know how to get business finance despite having court judgements.

    We have already placed the deal with a specialist provider that say they will be able to help (despite the judgement). I thought it may have been an interesting example of how some in the marketplace are tightening their credit stance. However, this is not the case for all funders - it's a case of knowing who to turn to for help.

    So often we see customers that have been declined for finance by their bank (often their first port of call when they need some additional working capital), or indeed other lenders, and they then assume that all finance companies will take a similar stance. This is not the case - there are vast differences between different funding companies.

    If you have been having trouble finding the business funding that you require, please contact FundInvoice as we may be able to help you, even when others have not been able to deliver what you need.

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lloyds bank
leumi abl
pulse cashflow finance