The subcontractor who stopped waiting on the main contractor.

Refurbishment contracts for two main contractors, invoiced through monthly applications for payment. Certification took 30 days when things went well; payment followed 30 days after that. Meanwhile the crew was paid weekly and the electrical merchant wanted the account settled monthly.

A single slow certification meant juggling: delaying the merchant, delaying a start date, once nearly losing a framework place because materials could not be ordered in time.

Construction receivables need a specialist: applications, retentions and contra-charges scare off general funders. We introduced a partner that lives in this world and advances against certified applications at 70%.

First funds came five days after the introduction. The advance lands when the application is certified, not when the main contractor’s payment run finally reaches it.

The merchant account is settled on time every month, which unlocked better trade pricing. The firm now runs jobs for a third main contractor, taken on because starting materials no longer depend on the previous job having paid out.