Construction Finance
Much of the construction industry requires upfront capital, but what funding options are available? Learn more about the construction finance products available through Aurora Capital to help fund your next project.
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from 6.90%
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£100,000 +
UK Based
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£5k - £500k
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About Construction Finance
Finance options for your construction business
Construction businesses have unique and varied reasons for needing external funding, and not all finance options will be right for every business.
At Aurora Capital, we understand your business’s needs and specialise in finding the most appropriate funding solutions for construction professionals.
We offer a range of business financing options with varying eligibility criteria, funding amounts, and usage options. Whether you need to address a short-term cash flow issue or buy new equipment, we have a solution that can help.
Unsecured business loans
Unsecured business loans are a way for your construction company to borrow a lump sum without requiring collateral. Unsecured loans are ideal if your construction business lacks valuable assets to offer as security or if you don’t want to use them as collateral.
They are a versatile borrowing option, as they can be used for any business-related purpose. The loan amounts usually range from £1,000 to £500,000 and can be repaid over a maximum period of six years.
Whether you are looking to inject a lump sum into the business for an upcoming contract, purchase new machinery and equipment or simply just improve cash flow to purchase materials or pay sub-contractors, unsecured business loans are a perfect fit for construction companies throughout the UK.
Revolving credit facility
Revolving credit facilities are flexible credit lines that function like business overdrafts. They could be the answer if your construction business needs a financial cushion to cover unexpected costs or cash flow problems.
Revolving credit facilities typically offer loan amounts between £10,000 and £2 million, with a borrowing term of up to two years. As funds are drawn, the available credit reduces, but once repayments are made, the credit limit is restored, allowing businesses to borrow, repay, and reuse funds as needed.
This makes them an ideal option for construction companies. We have worked with businesses to help them with:
- Paying sub-contractors
- Purchasing materials
- Paying bills/suppliers
- Paying HMRC
Growth Guarantee Loan
The Growth Guarantee Scheme (GGS) is a government-backed finance scheme designed to help businesses access finance they can use to invest and grow.
This type of borrowing is ideal if your construction business has encountered financial setbacks and needs more money to move forward.
The loan amounts usually range from £25,000 to £2 million and can be borrowed over a maximum period of six years.
Asset finance
Asset finance can allow your construction company to acquire the assets it needs to operate, like machinery, vehicles, and other equipment, without impacting cash flow.
You can also use asset finance to refinance assets your business already owns to release cash into the company. However, there are eligibility criteria regarding the age and condition of equipment that can be refinanced.
How construction finance can help your business
Securing finance could be essential to taking your construction business to the next level or overcoming unexpected challenges.
There are a range of scenarios in which construction finance could help support and grow your business, including:
Purchasing new equipment
Construction businesses often use finance to purchase equipment, whether new machinery or replacement equipment.
Hire purchase (through asset finance) is a common option that construction businesses consider when purchasing equipment.
Asset finance is an ideal option for businesses looking to expand. An asset finance agreement allows your company to purchase new assets if it doesn’t have the funds immediately available to do so.
This way, your company can purchase the assets required to ensure future growth, like a new bulldozer or excavator.
Boost cash flow
Construction projects often involve significant upfront costs, from purchasing materials to paying subcontractors, long before client payments are received.
This can create cash flow challenges, especially when working on multiple projects at once. A revolving credit facility can help bridge this gap by providing flexible access to funds whenever needed.
Rather than waiting for payments to come in, you can access funds to cover wages, purchase materials, and manage operational costs. Then, you can repay and reuse the credit as project revenue comes in.
This ensures steady cash flow, reduces reliance on overdrafts or expensive short-term borrowing, and gives your construction business the financial flexibility to take on larger projects.
Growing your team
Expanding your workforce to take on larger projects is one of the most valuable ways your construction businesses can use finance.
With additional skilled tradespeople, site managers, or project coordinators, your business could increase capacity, take on more contracts, and complete projects more efficiently.
This could also include hiring specialists for health and safety compliance, project planning, or equipment operation to improve efficiency and reduce delays.
Investing in a skilled workforce can strengthen your construction business, enhance project delivery, and position you for long-term growth.
Choosing the right option
It’s important to give careful consideration to the type of financing option that best suits your business needs, taking into account things like:
- The purpose of the loan
- The loan amount you need and repayment terms
- Whether you want to use assets as collateral
If you’re unsure what type of construction finance is most suitable for buying equipment, speak to one of our team members today.
If you’re a construction business owner looking for external funding, it’s important you understand the eligibility requirements that lenders typically set.
At Aurora Capital, we work with UK-based construction businesses that have:
- Been trading for at least 6 months (start-up options are available)
- An annual turnover of £100,000 or more
- Require loan amounts ranging from £10,000 to £1m
These requirements ensure that your business is financially stable and has a reliable income stream to repay the loan.
At Aurora Capital, the application process for construction finance is quick and straightforward.
When you know what type of funding is best for you, you can apply online. Filling out the form only takes a few minutes, and the application does not impact your business credit score.
We will then expertly match you with lenders offering the most competitive terms. The paperwork is processed in days, and funds can be in your account in less than a week.
However, depending on the type of finance you’re opting for, there may be a few additional steps to consider, including:
- A clear requirement for funding: If you’re requesting a large sum, many lenders will want to understand how you are going to use it. It’s worth having a breakdown of what you intend to use the funds for.
- Credit history: Your credit history will probably be assessed so lenders can understand your reliability and affordability. Don’t be put off if you have an adverse credit history, as some lenders may still work with you.
If you have any questions about the application process, speak to a member of our team today.
Here are some tips on the things to think about or avoid to give your application the best chance of success:
- Only borrow what you need: Many businesses make the mistake of asking to borrow more money than they need. It’s easier to get approval for a small loan and keep adding to it, especially if your credit history isn’t great.
- Prepare your paperwork: Make sure you have your account information ready to go should a lender ask for it. This will speed up the application process.
- Check your affordability: When choosing a loan, assess the repayment terms thoroughly. If monthly repayments are high, make sure you’re confident you’ll be able to keep up with them if you experience a quiet period.
We can guide you through the application process and help you prepare. Speak to one of our brokers to find out more.
If you’re a construction business owner looking for external funding, it’s important you understand the eligibility requirements that lenders typically set.
At Aurora Capital, we work with UK-based construction businesses that have:
- Been trading for at least 6 months (start-up options are available)
- An annual turnover of £100,000 or more
- Require loan amounts ranging from £10,000 to £1m
These requirements ensure that your business is financially stable and has a reliable income stream to repay the loan.
At Aurora Capital, the application process for construction finance is quick and straightforward.
When you know what type of funding is best for you, you can apply online. Filling out the form only takes a few minutes, and the application does not impact your business credit score.
We will then expertly match you with lenders offering the most competitive terms. The paperwork is processed in days, and funds can be in your account in less than a week.
However, depending on the type of finance you’re opting for, there may be a few additional steps to consider, including:
- A clear requirement for funding: If you’re requesting a large sum, many lenders will want to understand how you are going to use it. It’s worth having a breakdown of what you intend to use the funds for.
- Credit history: Your credit history will probably be assessed so lenders can understand your reliability and affordability. Don’t be put off if you have an adverse credit history, as some lenders may still work with you.
If you have any questions about the application process, speak to a member of our team today.
Here are some tips on the things to think about or avoid to give your application the best chance of success:
- Only borrow what you need: Many businesses make the mistake of asking to borrow more money than they need. It’s easier to get approval for a small loan and keep adding to it, especially if your credit history isn’t great.
- Prepare your paperwork: Make sure you have your account information ready to go should a lender ask for it. This will speed up the application process.
- Check your affordability: When choosing a loan, assess the repayment terms thoroughly. If monthly repayments are high, make sure you’re confident you’ll be able to keep up with them if you experience a quiet period.
We can guide you through the application process and help you prepare. Speak to one of our brokers to find out more.
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Securing business funding:
How it works
We understand that timing is key when you’re looking to find funding options for your business,so our process is as quick and as streamlined as possible.
1
Apply Online in minutes
We cater to any sized business, so to apply for business funding, we only need you to share basic information about your company. Your application will take a few minutes, and our experts are always happy to assist with any questions you have about specific loan types or alternative finance options.
2
Get Matched in hours
Our LendTech technology will compare our trusted panel of lenders and match you with your most suitable finance option. Each business funding option is different, and we’ll help to make sure you’re fully clued up on the terms and conditions as well as indicative repayment details.
3
Get Funded in days
One of our funding specialists will discuss the available options with you and guide you through the process from application to approval. Once approved, the funds can be deposited in a matter of hours.
Prefer to talk? Call us on 01371 870815
4.9/5 based on 100+ by happy customers
Navigate our range of business
funding options to find out more
We understand that timing is key when you’re looking to find funding options for your business, so our process is as quick and as streamlined as possible.
Apply for a recovery loan to help your business employ staff
A government backed loan to support businesses affected by the pandemic.
Looking to obtain an unsecured loan for your business?
Business loans up to £500k, without the need to secure on property or assets.
Apply for a secured business loan today and get matched with a lender…
Business loans up to £2M, secured against a UK property by way of 1st or 2nd charge.
It takes minutes to apply, there’s no effect on your credit score.
Acquire new or used equipment, machinery or vehicles and spread the repayments over 1-6 years.
Compare merchant cash advances to help your business purchase stock.
Borrow up to 2x your monthly card sales and repay through a small % of your future takings.
Compare revolving credit facilities to help your business grow.
A pre agreed credit facility, allowing you to dip in and out for future funding requirements.
Spread the payments of your PAYE, VAT or Corp Tax bills.
VAT/TAX loans up to £500k for PAYE payments, quarterly VAT payments or annual Corporation tax payments
Prefer to talk? Call us on 01371 870815
4.9/5 based on 100+ by happy customers
Key benefits of working with
Aurora Capital
LendTech Technology - Access to 50+ Lenders
At Aurora Capital, we use LendTech technology which gives us access to a vast network of over 50 commercial lenders in the market. Our extensive pool of lenders ensures that we can match you with the most appropriate lender for your specific requirements, who will provide competitive terms and reasonable loan options.
Apply Online in Minutes & Get Funding in Days
We understand that businesses often need funding quickly. For this reason, we offer a fast, simplified service. Once you’ve chosen the appropriate loan for your needs, you can apply online through Aurora Capital, which only takes a few minutes. Our team will then match you with a lender and acquire the necessary funds, often in just a few days.
No Effect on Your Credit Score
Conventional loan and credit applications can damage your credit score, but with Aurora Capital, this isn’t the case. Whether your application is successful or declined, your credit score remains unaffected. This is especially advantageous for newly established businesses trying to establish a credit score, or those with a negative credit history.
LendTech Technology - Access to 50+ Lenders
At Aurora Capital, we use LendTech technology which gives us access to a vast network of over 50 commercial lenders in the market. Our extensive pool of lenders ensures that we can match you with the most appropriate lender for your specific requirements, who will provide competitive terms and reasonable loan options.
Apply Online in Minutes & Get Funding in Days
We understand that businesses often need funding quickly. For this reason, we offer a fast, simplified service. Once you’ve chosen the appropriate loan for your needs, you can apply online through Aurora Capital, which only takes a few minutes. Our team will then match you with a lender and acquire the necessary funds, often in just a few days.
No Effect on Your Credit Score
Conventional loan and credit applications can damage your credit score, but with Aurora Capital, this isn’t the case. Whether your application is successful or declined, your credit score remains unaffected. This is especially advantageous for newly established businesses trying to establish a credit score, or those with a negative credit history.
100+ Happy Customers & Counting
Construction Finance FAQs
The amount you can borrow will depend on several factors, including your:
- Credit history
- Annual turnover
- Monthly overheads and affordability
How long your credit terms are and the type of finance you choose will also influence how much you can borrow.
At Aurora Capital, we predominately work with businesses that need to borrow between £10k and £1m.
Many businesses rely on external funding to help them grow and thrive, and construction companies are no different.
When you take out a business loan, you can cover temporary cash flow gaps, keep your operations going as normal, invest in new equipment and staff to take on more projects and increase the reach of your business overall.
We understand your construction company needs access to flexible funding options to fuel your growth and take on new projects. Here’s why you should choose Aurora Capital:
- Wide lender network: We have over 50 commercial lenders in our network, including those willing to work with companies with poor credit or who are just starting out. This means we offer a wider range of finance options to suit your needs and help you achieve your goals.
- Quick loan application: Our application process takes just minutes to complete. Once you’ve applied, approvals can be granted within hours, and funds can be transferred to your account in just a few days. Most importantly, applying with us does not impact your credit score.
- Personalised service: No matter the reason for your loan, we can help you find the right solution. Our experienced brokers will work with you to understand your business and financial needs and match you with the lender that offers the best terms for your circumstances.
Some lenders are willing to provide construction finance even if your business has a poor credit history. A low credit score may limit your options or result in higher interest rates, but funding can still be available.
Asset finance can be a practical solution, as funding is secured against assets rather than relying solely on your credit history. Secured business loans may also be an option if you can provide valuable assets as collateral.
Some lenders may require a personal guarantee to reduce the risk, particularly for unsecured loans. While improving your credit score before applying can help you access better terms, a low score doesn’t necessarily mean finance is out of reach.
At Aurora Capital, we work with lenders who specialise in funding construction businesses with poor credit, helping you find the best option for your needs.
