- 26 Oct
Construction Sector Finance Research - Applications For Payment
We have recently conducted some research into the construction sector and its finance requirements which I am going to publish.
Traditionally invoice finance companies didn't get involved with funding the construction sector but that has all changed. There are now a number of options for construction sector businesses where invoice finance companies have developed specialist funding services for the construction sector.
One of the first questions we asked a sample of 100 randomly selected construction sector businesses was "do you raise applications for payment?". 75% of those questioned said that they did raise applications for payment. Hence our research found that only 25% of construction businesses do not raise applications for payment.
These are distinct from invoices and are one of the reasons why some invoice finance companies will not fund the construction sector. However there are funders that will provide early payments against applications for payment even if they have not yet been certified for payment i.e. they are uncertified applications for payment.
More results from our construction sector finance research will follow.