Since the demise of Carillion back in January 2018 we have seen the construction industry experience more challenges when it comes to available credit.
Indeed one business commented that in their experience credit from lenders is one third of what it was two years ago.
Add to this the issues and challenges around the payment cycle and cashflows are being hit hard.
FIS CEO Iain McIlwee stated: The comment above describes a perfect storm of all of the issues that are currently impacting the construction sector in the UK, with specialists left carrying an unacceptable level of risk both from a contractual and financial perspective. Something has to be done to look at the credit crunch that is undermining investment and deepening our risk exposure.
We want to make contractors aware that there is an opportunity they may not have considered that could in a small way alleviate the pressure on cashflow that slow payment can cause.
We have access to funds that are readily available for client’s fitout projects and facilities can be put in place in a matter of hours.
If a client utilises a lease facility then we will pay the contractor direct thus removing the client from the process. This ensures payment is made in time and with no risk of bad debt.
Plus Finance specialises in arranging finance for fitout projects and our experience and expertise will ensure contractors cashflows are greatly improved.
For more information on how easy it is to offer this to client, please contact the Plus Finance team now.