Tiling contractors registered as UK limited companies or LLPs can access business finance in the company's name. The facility is a company debt — directors are not personally liable and no personal guarantee is required.
Why tiling businesses need working capital
Commercial tiling contracts — hotel bathrooms, restaurant fit-outs, swimming pools, school or hospital flooring — often require large quantities of tiles to be ordered and paid for in advance of installation. Tile delivery lead times from European or Asian suppliers can run to several weeks, meaning the working-capital requirement lands well before any payment is received. A business loan allows the company to purchase materials at the right time rather than being constrained by its cash position at any given moment.
Tools and specialist equipment
High-specification tiling work demands investment: large-format tile cutters, electric tile saws, laser levelling systems, waterproofing application equipment and suction pads for handling oversized slabs are all costly items. Finance enables a tiling company to equip itself properly for a step up in contract size — winning a large-format tile project, for instance, may require machinery the company does not yet own.
Assessing your company's application
We review the limited company's bank statements, filed accounts and revenue pattern. Tiling companies with a clear pipeline — a signed order book or framework agreement — will find it straightforward to explain the repayment source. As an illustrative figure only and not a quote, a tiling company with £150,000 of annual turnover might be considered for a facility in the range of one to two months' revenue; the precise offer depends entirely on the company's financial position.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: Business loans for flooring contractors, Business finance for damp-proofing companies.