Construction Factoring Services
Business owners in the construction industry rarely ever receive payments from their customers on time. If this situation is affecting your business, construction factoring can help. This arrangement, which is designed specifically for construction companies, allows you to receive most of your invoice value right away rather than waiting as much as two months to be paid. Construction factoring is available for businesses of all sizes, from the small contractor to the multi-million dollar commercial contractor.
Who Can Benefit
The nature of the consulting business make consulting companies prime candidates for periods in which meeting financial obligations may be difficult. Clients are usually invoiced after the services have been performed. It is common for invoices to remain unpaid for 30 to 60 days or longer. Such delays can strain a consulting company’s finances and make it difficult for them to:
- Small businesses with poor credit history that have been unable to qualify for a bank loan can qualify for factoring.
- Companies with seasonal profit margins can use construction factoring to help them get through the slow times of year.
- Newly formed companies that have yet to establish a line of credit with a traditional lender are prime candidates for factoring since the business owners won’t need to pass a credit check.
If your company falls into one of these categories, construction factoring may be of particular help to you.
Why Use Construction Factoring?
Construction businesses often run into cash flow problems when customers don’t pay their invoices on time. Just one late payment can cause you to miss payroll, skip a utility payment or postpone a necessary purchase. For many businesses these vital expenses cannot wait. You can use construction factoring to advance the cash you need to continue operating your business without interruption.
GET IN TOUCH WITH FACTOR FUNDING
What better way to get the peace of mind you need for you and your family than from an expert with decades of experience helping countless others in exactly the same way?
Reach out for assistance to ensure that your feeling of being in a rut over awaiting settlement doesn’t last long. We get plaintiffs the cash they need.
Waiting around won’t help you pay your expenses. We look forward to chatting about your financial needs and how we might be able to partner up to assist in achieving your goals. Here’s to your success!