Monday, 4 April 2016
Two innovative funding providers have come together to provide this new type of finance. Building Materials Finance allows clients to purchase the raw materials required on site for building work to be carried out. This facility is aimed at contractors and sub-contractors who require additional working capital to help them finance contracts which might be currently out of reach, or would put significant strains on cash flow.
Companies that can apply for this type of finance include:
Brick layers and brick factors
Steel fabricators and contractors
The following security is needed: ( as 2 separate funders are involved some security is required by both)
Limited companies only
Debenture over stock
Debenture over debtors
Personal Guarantees from all directors for both funders.
3% interest per month
2% up front facility fee
£150 registration fee per debenture
Facility size from £25K to £100K
Minimum transaction £10K with £50K maximum
Minimum trade fee of £300.