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Contractor loans – why they’re different

As a contractor, your ability to complete a job relies on a steady flow of income to balance your cash output. However, meeting monthly costs such as wages and raw materials, is often challenged by the application for payment process, which can take anywhere from 60 to 90 days to finalise. 
 
Customers and general contractors are generally unwilling or unable to offer better invoice terms, and banks can be slow to agree to an extension on your overdraft facility – if they agree at all. It’s a vulnerable place for your business to be, but luckily there is a solution. 

Stay cash flow positive

Nucleus provide contractor loans / (finance against applications for payment) that can help you overcome these cash flow challenges within 10 working days of successful application. 
 
Nucleus has developed this confidential invoice finance facility specifically for contractors battling to balance their cash flow. As the loan leverages your debtor’s book, you can apply for the loan either at the application for payment or invoice stage; unheard of with traditional lending products. 
 
While our contractor loans are applicable in any sector, we work with many businesses in the currently cash-strapped construction industry. To help fast-track their loan application process, we have a team of experienced quantity surveyors who understand the contractual challenges faced by contractors and sub-contractors. 
 
Our contractor loans are based on a fixed, rather than variable, fee model, which offers our clients a level of certainty that banks can’t. The process is flexible and fast, providing clients with pre-payments against applications, stage payments and milestones for sub-contractors in construction, engineering or other industries. 

How you’ll benefit

Our contractor loans can offer our clients the following benefits:
 
  • An upfront fee structure that includes all day to day charges
  • Funding Limits of up to £10 million 
  • A fixed fee facility at competitively cheaper rates
  • A faster and more flexible application and approval process when compared to traditional lenders
  • Pre-payments up to 80% against applications to provide funds when needed
  • A confidentiality facility to mitigate any reputational risk
 
These benefits will enable you to:
  • Stay in business while waiting for invoices to be paid
  • Meet all one-off and revolving costs on time
  • Scale your business with additional working capital
  • Maintain existing shareholder ownership

Why Nucleus Commercial Finance? 

We are committed to helping the UK SMEs receive the funding they need to achieve their long-term growth plans. We know how to structure the best alternative finance solutions and offer innovative products designed to provide you with the funds you need, when you need them. Transparency is key for us; we present all our fees upfront and hide no extra costs in the small print. Our contractor loans are available to every sector, and should you qualify, will pay-out quickly, allowing you to get on with the important job of running your business. 
 
Should you need to discuss alternative finance solutions for an overdraft facility, asset finance, property finance, construction finance, cash flow finance or invoice finance, our expert team can take you through all the options available to you, and answer any questions you may have. 
 
Our team of financial specialists is here to help. To find out more, contact us today.

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