Commercial Financefor Construction

Build your dreams with affordable financing from Nucleus. We provide loans ranging from £3k to £500k to help turn your ideas from blueprints into reality.

Apply for a loan now!
Rapid funding in 24 hours
Borrow from £3k to £500k
Flexible repayment periods

Introduction to Commercial Loans for Construction

Building and construction firms are essential for developing the UK’s infrastructure. They are responsible for building core pillars of society, such as houses, schools, and offices, as well as developing transport networks and introducing major road schemes and rail services. Construction significantly contributes to the British economy, with £158 billion of revenue forecasted this year.

This industry also has its challenges; building construction is an operationally expensive industry with cyclical demand and fluctuating raw materials prices, making budgeting difficult.

Why Consider a Loan for Your Construction Firm?

Managing Cash Flow

When a construction project is complete, firms may receive delayed payments from clients, leading to cash flow gaps. If this happens, the firm will find it difficult to start on follow-up projects.

Funding Large Projects

When a large-scale project is commissioned by a client, the construction firm must secure funding for permits, materials, and labour before payment is received.

Purchasing Large Machinery

Before projects get underway, construction firms must buy or lease heavy machinery, like vehicles, well in advance. This can include cranes, bulldozers, and excavators. What’s more, innovation brings along helpful gadgets like drones and AI software to improve efficiency and safety on site.

Business Expansion

Should a construction firm want to enter a new market, capital will be required to set up new local premises and hire new staff. On the flip side, if you’re going to expand your service offerings, like adding design or environmental consulting, this will require additional funding, too.

Regulatory Compliance

New safety regulations are often added, so firms may be required to invest in safety equipment and/or compliance training to adhere to the new standards.

Getting Started with Nucleus

Securing a loan with Nucleus is as straightforward as it gets. Here’s how it works:

1

Apply Online

Fill out our simple, easy application online. It only takes a few minutes.

2

Get a Decision on Your Application

We’ll review your application and get you a decision fast.

3

Access Your Funds

Once you are approved you will get your funds fast to start using as soon as today.

4

Repay Over Time

Repay the funds according to the agreed terms.

Apply for a Loan Today!

Eligibility

  • Prove Recent Business ProfitabilityDemonstrate the business is profitable and sound with their financial standing.
  • Minimum of Three Years of Trading HistoryHave a minimum of three years trading history to show stability and experience.
  • Registered in England or WalesYou have an office address registered in England or Wales.

Own a home in England or Wales

  • Own a Home in England or WalesYou should be a homeowner in England or Wales.
  • Last Three Months’ Business Bank StatementsProvide the latest three months of your business bank statements.
  • A Full Set of Your Business AccountsSubmit a complete set of your business accounts for review.

Why Choose Nucleus for Construction Finance?

Here at Nucleus, we provide two core products that are perfectly suited for construction firms facing any of the scenarios described above: Nucleus Business Loans and Revenue-Based Loans. Let’s examine each in greater detail.

Nucleus Business Loans

Our standard financing option provides the perfect solution for construction firms seeking to increase growth. Here’s what makes them a great choice:

Flexible amounts: You only need to borrow the amount you need, whether it is to launch a new training course or buy new loading equipment.

Competitive interest rates: You get attractive rates based on your business’s performance, helping to keep costs down.

Fixed repayment terms: Fixing payments allows for better budgeting and financial planning, which is especially important for project-based schemes.

Revenue-Based Loans

If you’re looking for something more flexible, a Revenue-Based Loan may be more of your thing. Here’s what makes them unique:

Speedy delivery: Through Open Banking and Open Accounting connectivity, Nucleus will have the data it needs to make decisions in minutes and potentially pay out the loan on the same day once it is approved.

Top-ups available: As your business and earnings grow, you can increase your loan amount without having to start your application from scratch

Predictable payments: The amount you pay back will be calculated based on your business’s earnings. This will be a fixed, weekly repayment tailored to your revenue, making budget planning much easier.

What to Expect During the Loan Application Process

Preliminary Consultation

First, we will discuss your needs with you. This is the time to ask any questions you might have and find out what options are open to you. 

Loan Application

Once you have gathered everything, you will fill out your application. Be as thorough as possible to ensure it is complete and correct so as not to cause any delays in processing.

Application Review

We are going to review your credit history and look over your financial documents. If we need more information, we shall let you know.

Approval and Negotiation of Terms

If you’re approved, we will present you with a loan offer including all the details. Take time to review the terms and ensure that they work for you.

Sign the Agreement

If you like what you see in the terms, you’ll then sign a loan agreement. This makes everything official.

Receive Your Money

We will remit the funds to you after the paperwork is complete. You’re finally ready to start investing in your business.

Practical tips for using Commercial Loans in Construction

Assess your Financial Needs

To start, you will want to note all the expenses you are likely to incur ahead of your project. With fluctuating costs, this is easier said than done, but you can create estimates based on rates you may have seen your competitors deal with.

Choose the Right Loan

Here, you will want to compare various loan types to see what is best suited for your financial situation. Perhaps you value something with a fixed-term approach? Or maybe you encounter seasonal variations, so something more flexible will be a better fit. With this in mind, you will also want to consider the cost of borrowing, including interest rates and repayment schedules.

Plan for Repayment

When picking a finance option, pick something that aligns with your investment timelines, especially if you know you have clients that often delay payments, preventing you from making a start on your next project. Also, you will want to set aside some emergency funds to ensure you can still consistently repay your loans, should such a scenario occur.

Use Loans Strategically

Though there are several reasons for taking a loan, it is wise to take loans for activities that generate income, such as new projects, equipment upgrading, or adding new services. While at it, do not borrow more than you require because this may overstretch your future finances.

Summing Up

Seeing your visions come to life for a community can make construction an exciting industry, but projects that have such a sizeable impact come with challenges that can often thwart those plans.

At Nucleus, we have worked with several construction firms and are well-versed in the challenges surrounding the construction industry. Use the links below to learn more about our loan options, get in touch with our team, or apply for a loan today!

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