BizFunding offers readily accessible tender funding for construction businesses in South Africa.
This makes it possible for businesses in the industry to fulfil lucrative tenders without having to start with hefty capital reserves.
What is construction tender funding?
Construction tender funding is an alternative financing solution suitable for established companies and young SMEs with growth potential.
It covers the cost of the equipment, supplies and labour required to complete a project on time and within budget.
Tenders: a key to growing your business
Tenders represent a significant opportunity for construction firms to expand operations and play a pivotal role in public sector projects.
A successfully completed project can lead to enhanced credibility, an improved business portfolio, and the experience required to operate at a much higher scale.
In today’s unstable economy, a tender can be key to securing reliable work and income. It can also open doors in the future.
A challenge for smaller construction firms
The construction sector in South Africa faces a raft of challenges.
Suppliers typically require payment in advance and companies run the risk of losing tenders due to lack of funding. Given the late payment cycles, smaller construction companies, in particular, are negatively affected.
Projects are often delayed or disrupted and penalties incurred, adding to the financial burden. Without sufficient working capital, it becomes increasingly difficult for businesses to operate efficiently, if at all.
How tender funding could help your construction business
With access to funding, your construction business can fulfil tenders, build relationships with suppliers and confidently bid on new projects.
A steady supply of funds eliminates the risk of cash shortages and project overruns, drives profitability and allows the business to flourish.
Our innovative tender funding process at BizFunding
At BizFunding, we do more than open the funding taps. We partner with businesses and offer our expertise to ensure construction tenders are executed seamlessly and efficiently.
We pay suppliers and cover operating costs up to R2 million.
Rather than providing traditional tender loans, we operate on a profit-sharing basis. So you pay us back only after your business is paid for successful project completion.
How to get tender funding process for your construction business
Getting construction tender funding through BizFunding is quick and easy.
Simply complete the online application form, providing us with information on the tender and required funding. We’ll also need documents to support your application. The paperwork can be sent via email.
A BizFunding consultant will assess your application and contact you with a proposal, which you can accept or reject. Once you have given the go-ahead and signed a binding agreement, the tender funding is available within three to five working days.
To learn more about tender funding for construction businesses in South Africa in 2024, call BizFunding on 012 001 0095 or apply for tender financing online.
