Construction lending story receives international coverage
7 August 2017
Recent Funding Options research on the construction sector has reached as far as NYC and Hong Kong, with both the New York Times and South China Morning Post covering the story.
The research, an analysis of Companies House data, revealed that Directors of small UK construction firms are lending more and more money to their own companies, as the banks set tighter lending criteria and major contractors delay payments.
Quoted in the New York Times, Funding Options CEO Conrad Ford says:
“Confronted by continued borrowing constraints and often faced by long waits for payment, [directors] are ploughing significant amounts of their own money into their businesses to ensure they remain on a firm financial footing.”
“But it is questionable whether taking such drastic personal measures is sustainable for much longer.”
The story was also picked up by domestic newspapers including the Daily Mail.