Construction companies have access to various funding options to suit their needs. These include

- Invoice finance to manage cash flow between progress payments,

- Asset finance for purchasing or leasing equipment and machinery

- Property loans for buying warehouses or office spaces

- Overdrafts or lines of credit for daily expenses and working capital loans to cover operational costs between jobs.

Each option serves a purpose in supporting your business’s financial needs. At BLOX, we’ll work with you to understand your specific requirements and recommend the most suitable funding solutions to support your business growth and operational needs.

The documentation required for business finance applications varies depending on the loan and your circumstances. Generally, you’ll need to give a statement of your financial position supported by documents such as tax returns (personal and business), financial statements (profit & loss, balance sheet), and bank statements.

For construction businesses, details of current projects and contracts are often required. A comprehensive business plan may also be necessary if you’re a new business or applying for a larger loan.

At BLOX, we’ll guide you through the process, helping you prepare a robust application that showcases your business’s financial health and potential to lenders.

You can still get finance if your most recent tax returns aren’t completed. We can look at low-doc loans, which require less documentation but may have higher interest rates. Asset-based lending using your equipment or property as security could be another option. Some private lenders have more flexible criteria than mainstream banks. However, up-to-date financials generally provide access to better rates and terms.

At BLOX, we can advise you on the best approach for your situation, helping you balance the need for quick finance with getting the best terms.