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Study Shows 35% Increase in Construction Sector Lending over 2017

A recent study by business finance company Funding Options has shown that the level of lending in the construction industry increased last year by more than a third!

£408m was lent in 2016 and £548m in 2017; this is a 35% increase and with directors of smaller construction firms forced to pay subcontractors to cover cash flow shortfalls following the collapse of Carillion in January, what will the final lending total for 2018 be? How far will the knock-on effects of the Carillion collapse continue to roll?

Conrad Ford, founder of Funding Options, said: "Construction bosses have been forced to dig deeper into their own pockets to help their companies survive.

"Many directors will be worried about Carillion's collapse and the knock-on effect it might have on their businesses - many will have already seen an impact."

The study by Funding Options was based on Companies House filings for 2016/17 of over 180,000 construction companies and opens up the question of how smaller companies will fund their own activities, especially as reins tighten on bank lending. Alternative sources such as crowdfunding and asset finance are becoming increasingly common, and provide funding where traditional lending methods may not, but how this situation will look in 12 or 18 months’ time is still yet open to interpretation.

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