Invoice discounting vs. factoring: All the information you need
Does your business continually experience cash flow problems due to lengthy invoice terms and delayed customer payments? If so, invoice...
top of page
Construction invoice finance |
Product Features
High operating costs and long payment cycles wreaking havoc on your firm's cash flow?
With Penny's construction invoice finance, you can access the funds locked in your outstanding invoices in just 24 working hours.
Open a free account, submit your outstanding invoice and receive full payment the next working day.
Construction factoring
£500 - £200k invoices funded. Payment terms up to 90 days accepted.
Invoice collection services
Customer invoice payments managed and collected by Penny on your behalf.
Cash flow peace of mind
Unsecured solution. Funds deposited via Open Banking within 24hrs.
CONSTRUCTION FUNDING UK
Penny's approach to construction finance
Whether you trade on 30, 60 or 90-day payment terms, Penny's construction finance quickly unlocks working capital to costly operating expenses.
Our construction factoring solution is a model of selective invoice finance.
Unlike full-book construction facilities that require you to raise your entire sales ledger, Penny offers a flexible account that can be used on-demand.
No ongoing commitments. Open a free Penny account, select single or multiple invoices for financing and take on new construction projects with cash flow confidence.
Construction businesses
Commercial contractors and specialist subcontractors, civil engineering firms, construction management companies, material and equipment suppliers
HMRC registered
Limited companies and sole traders based in England or Wales, invoicing limited companies, local authorities or government departments in England or Wales
B2B transactions
Outstanding invoices for delivered goods / completed work up to 75% through terms (submitted invoices cannot be overdue)
What is construction invoice finance?
Lengthy payment terms are inherent to the construction industry's complex nature, particularly in large commercial projects.
Construction invoice finance, also known as construction factoring, is a smart financial solution designed to mitigate common challenges faced in this sector.
With this type of invoice finance, construction companies can pay a processing fee to access the total value of their invoice(s) the next working day.
How does construction invoice finance work?
Developed for simplicity, our construction invoice finance solution aims to provide financial stability for contractors and subcontractors.
Instead of financing your complete debtor book, you can open a free Penny account and flexibly factor selected Final Payment Invoices upon project completion.
01
Submit invoice
Upload an invoice for construction factoring through your account portal
02
Track status
Penny contacts your customer to validate the submitted invoice details
03
Withdrawal confirmed
Invoice is verified and a no-obligation quote with processing fee is offered
04
Get paid
Accept the fee and receive the total invoice value* within 24 working hours
*Total invoice value minus Penny's processing fee. Average fee on a 30-day invoice is 5.1% +VAT.
Discover the benefits of financing construction invoices through Penny
Protect assets
Keep valuable company assets safe. No collateral, personal guarantees debentures or property security required.
Eliminate delays
Construction projects are often subject to significant delays. Penny bridges these gaps by providing funds before your debtor pays.
Bid on larger projects
With improved cash flow and financial stability, your construction company can expand its portfolio and win larger, more lucrative projects.
Strengthen business relationships
Avoid invoice delays and ensure timely payments for employees and suppliers, fostering strong, long-term industry relationships.
Mitigate seasonal fluctuations
With a reliable cash flow, you can prepare for upcoming peak seasons and manage off-peak periods ahead of time.
Improve project cash flow forecasts
Maintain a healthy cash flow, reduce complex supply chain threats and handle construction contract budgeting with ease.
KNOWLEDGE HUB
Find out if Penny's construction factoring is right for your business:
FAQs
Explore frequently asked questions about construction invoice finance:
bottom of page