We’re excited to announce a new feature designed to support sub-contractors in the current challenging economic climate.
Sub-Contractors using The Build Chain platform can now apply for a line of credit to purchase materials through the platform and pay their subscription fees, giving them the financial flexibility they need to focus on growing their business.
Empowering sub-contractors with financial flexibility
Recent reports indicate that construction small and medium enterprises (SMEs) are facing difficulties accessing finance. Many SMEs describe inflation and the price of construction materials as restricting.
Our new line of credit offers a solution, enabling sub-contractors to spread out their payments in a way that works for them. They can also benefit from The Build Chain’s discounted annual subscription fee whilst paying for this monthly.
This financial flexibility means sub-contractors can maintain cash flow, manage expenses more effectively, and secure materials quickly without the upfront financial burden.
The key benefits of this new addition to the platform are:
- Support for SME Sub-Contractors: This feature addresses a critical need in the industry, helping smaller sub-contractors compete more effectively by providing easier access to necessary funds
- Accelerated Material Procurement: By accessing a line of credit, sub-contractors can purchase materials faster, avoiding delays, and keeping projects on schedule
- Monthly Payments with Annual Pricing Discounts: Sub-Contractors can enjoy the cost savings of The Build Chain platform’s annual pricing but pay monthly via the new line of credit, easing cash flow pressures.
A response to industry needs
Neil Sheldon, CEO of The Build Chain, commented, “I always want The Build Chain to be a user driven platform. Being close to sub-contractors and working hand in hand with their teams’ knowledge and experience, we can provide assistance in saving time and money. It did become clear we need a direct response to their cashflow challenges throughout projects too, giving buyers the flexibility they need. Together, we’re forging a streamlined, super efficient process for building materials procurement.”
James Stothard, Chief Operations Officer, added, “The new line of credit feature is a game-changer for our sub-contractors. We understand the financial pressures they face, and this initiative is designed to provide them with the flexibility they need to succeed. By allowing monthly payments while retaining annual discounts, we are empowering sub-contractors to plan their finances effectively and ensure they have the materials they need without delay.”
How it works
Sub-Contractors using The Build Chain make an application through a third party finance provider for an account payable credit line which can be used to fund transactions made exclusively through The Build Chain merchant network.
It works like a gift card, allowing platform users to unlock additional funding to pay suppliers, their subscription fees, and ultimately grow their business.
This new feature further simplifies the materials procurement process, ensuring sub-contractors can focus on their core activities rather than financial constraints.
Accessing the credit
If you are interested in utilising this new feature, book a demo today.
