- 13 Feb
Construction Simple From Bibby Financial Services
Bibby Financial Services have launched their new construction sector finance product called "Construction Simple".
Bibby's Construction Simple
This product delivers specialist finance for small and medium sized construction sector companies, that want to improve their cash flow. It works by freeing up 70% of the cash that is tied up in your unpaid sales invoices, or uncertified applications for payment.
Construction Simple releases 70% of the value of those transactions, immediately, which will significantly improve your business' cash flow. That prepayment is a standard level for these facilities, across all trades.
Single Fee Structure
Furthermore, there is a single fee structure (so no separate service charge or discount charge), making the charges very simple to budget for. The only other possbile charges are for additional extras e.g. if you require a CHAPS transfer etc.
This means that you have a very straightforward, predictable monthly cost that you know you can afford.
Customers benefit from having a relationship manager that specialises in the construction sector, in addition to receiving credit control support. You will also have access to quantity surveyor support, from the Vinden Partnership.
You can read more general information about how construction finance works by following the link. To dscuss your requirements with Bibby please see the contact link at the foot of this article.
The criteria to qualify for the product are as follows:
- Companies operating within the construction sector.
- With turnover over of at least £250K per annum.
- With a maximum funding requirement of £100K.
- Non home owners can also qualify for this product - subject to a prepayment of 60%.
It is worth reiterating that this product is also available to NON HOME OWNERS. Home ownership has increasingly become an issue for business people in rented accomodation, that are seeking receivables finance. More and more funders have included the requirement of property ownership within their criteria - this is not the case here.
Contact Bibby Financial Services
If you would like to know more about this, or any other products from Bibby, please use this contact form for Bibby Financial Services - Construction to request a call back.