Built different: how The Building Co. keeps trading through the seasons

Ray Iqbal had the client, the team and the expertise. What he needed was the equipment during the leanest time of the year. Here's how a 48-hour loan turned a tight moment into a company asset.

A project worth taking. A problem worth solving.

Cash flow in construction flows with the seasons. Clients and potential customers wind down over Christmas, then tighten up in January. Suppliers shut for the holidays and work slows. 

Ray plans for this. He makes sure December ends with two months of work lined up, and January always starts with a project big enough to carry the team through Q1.

But one December, a new project came in that needed specialist plant equipment he didn't own. Cash was tight, and asking the client for an advance was out of the question.

"I never ask the client to pay for equipment upfront. It doesn't come across as professional. It looks like you don’t have confidence, and the client might wonder if you've done this kind of work before." — Ray Iqbal, founder, The Building Co.

Found through Tide, funded in 48 hours

Ray found iwoca through his Tide business account. There were other options available. But the difference wasn't the rate. It was how it felt. Ray was thrilled to find his dedicated account manager wasn’t there to upsell or pressure him into a deal that felt uncomfortable.

“With iwoca I didn't feel like an exploited customer. It felt like I was treated as a friend. I can pick up the phone whenever.”

Funds arrived within 48 hours. Ray bought the equipment (now a company asset that will open up many future jobs), cracked on with the project and hasn't looked back.

Since then, he's used iwoca’s flexible funding to cover insurance renewals and quickly service a van rather than leaving it sitting idle. "Every day that van sits in the mechanics, it costs me money. So spend what it takes to get it sorted, and know it's good for the next six months to a year," Ray says.

The builder who took the long way round

Ray won his first contract in 2019 maintaining a private hospital. From there, The Building Co. was born. Today, the team of 12 handles full residential refurbs, extensions, loft conversions and new builds. 

Ray works exclusively with homeowners. “Nine times out of ten, we're turning a house into a home. The satisfaction is so much higher than a commercial job.”

“Money is great. But seeing the client's face after we’ve transformed their property from a house into a home is everything to me. That’s the real satisfaction.”

Retired by 40, on his own terms

Ray is in his mid-thirties and wants to retire from construction by 40. Not because he'll stop working (he'll start a different business) but because he's watched older tradespeople work until their bodies give out. “I want to enjoy life when I‘m able, not when it’s too late.”

The equipment he financed is now on the company books, and the pipeline is full.

Ray was introduced to iwoca at the right moment. That's how he tells it: the right tool at the right time. For a builder, that's everything.

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