Factoring Companies for Construction
Construction factoring companies
Construction invoice factoring
Construction subcontractors face cash crunches due to paying employees, contractors and suppliers. Small independent subcontractors typically operate without huge cash reserves. Further, most general contractors and commercial customers wait until 30 to 60 days to pay their invoices. Fortunately, construction contractors can turn to construction invoice factoring for help.
You get paid immediately for work performed without having to wait 30 to 90 days for payment from your customers. You can pay your employees and sub-contractors while taking on more jobs that otherwise you can’t afford.
Construction factoring companies are familiar with the unique challenges of the construction industry. They understand the inherent risks associated with various progress billing payment methods, such as percentage of completion and milestone billing.
Construction factoring is a valuable financial tool for contractors who need to pay employees and suppliers quickly and easily. Receivables financing is particularly helpful if you have slow-paying customers or large fluctuations in cash flow.
Lien statutes protect contractors and material suppliers who contribute to the value of a construction project. States differ widely in the method and time within which a party may act on their lien. Construction factoring companies know how to handle the complexity of lien laws.
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Subcontractor factoring 1-2-3
Accounts receivable financing
Cash flow Solution
Accounts receivable financing virtually eliminates your collection days and speeds up cash flow to operate your business.
Your factoring company handles all the accounts receivable functions including collections, accounting and reporting.
Business Credit Services
Factoring companies analyze your customers’ credit scores and monitor credit limits to protect you from bad debt losses.
No Loans Or debt
Accounts receivable financing doesn’t involve risky loans or debt and doesn’t require you to make loan repayments.
Quick And Easy
Invoice financing is available within 5 to 10 business days and doesn’t require historical financials or spotless credit.
Peace of mind
Receivables factoring provides business stability and allows you to focus on operating your business rather than handling cash flow problems.