- 27 Mar
Only 14.7% Of Construction Businesses Raise Applications For Payment And Wouldn't Benefit From Them Being Funded
Our #constructionfinance survey of 100 construction sector businesses identified only 14.7% of construction businesses that raise applications for payment didn't think they would benefit from having funding against them - a very small percentage, highlighting strong demand for funding from this sector.
However, of this segment - 64% of them said they could forsee the need to raise business finance over the next 12 months. The key reason they didn't turn to invoice/applications finance as an option was a relaince upon bank overdraft.
This type of construction finance where funding is provided against applications for payment before they are approved is available and can provide more funding than traditional bank overdraft in many cases.