What is contract finance?
This is a short-term finance product designed to bridge the gap between taking on an order and being paid. Borrowing is secured against a specific contract or purchase order, rather than your entire ledger, giving you the flexibility to access working capital locked up in the transaction. It can be used standalone, or as part of a wider suite of trade finance products.
Contract finance keeps international contracts moving by ensuring neither party is out of the pocket during fulfilment. Take the stress out of chasing overseas payments, and enjoy a buffer for late payments.
Why choose contract finance?
The aim of this finance solution is to help businesses expand, by giving them the working capital boost they need to fulfil international export contracts. By gaining immediate access to payment, you are able to keep the wheels in motion and ensure successful fulfilment of the contract your borrowing is secured against.
Repayment to the lender is made after the contract is fulfilled and payment has been received. Because this type of loan looks at the value of a particular contract or purchase order, the decision to lend may place less emphasis on the trading history of your organisation. This means new businesses, or those with blemishes on their credit history, stand to benefit from contract finance. As a customer of Access Commercial Finance you can also enjoy:
No hidden fees or early repayment fees
Fixed interest rates
Applications considered from any industry
Money for any purpose
A slick application process