Compare ^{Contract Finance} Options for £550k Contracts

With invoice discounting, you submit eligible invoices for completed work to the lender. They advance a set percentage—up to 90%—to your business for use while waiting for clients to pay. Lending is usually for 1 to 12 months, with rates from 1% to 3% over base rate per month. After setup, ongoing funding on new invoices is rapid, helping manage contracts with extended payment cycles. Solutions like asset finance can work well for these scenarios.

Through trade finance, the lender pays your supplier on your behalf, releasing goods or services ready for fulfilment. You repay once the contract is completed and your buyer pays you. Terms range from 30 to 180 days, and rates are 1.5% to 6% over base rate. This suits businesses with complex supply chains or international contracts requiring cash before delivery, and asset finance can provide a tailored solution alongside trade finance.

This finance is secured against your hire contract and the associated assets. It supports projects needing significant equipment or vehicles and is commonly used in industries where assets are critical. Lending terms range from 12 to 60 months, with typical interest rates between 3% and 6% per annum. Decision times are around 3 to 4 weeks, matching the complexity of the contract, often involving asset finance solutions as well.