Factoring Construction Invoices
Construction factoring is the solution to your cash flow challenges. Slow-paying clients are typical in the construction industry, but unpaid invoices shouldn’t hold your business back from accepting new, larger projects. Factoring provides the funds you need to increase construction staffing efforts and cover employee payroll, cover upfront costs and purchase the necessary equipment.
Invoice factoring helps construction companies grow and gives you the confidence to compete for larger contracts. We work with all types and sizes of construction companies and sub-contractors. No matter if you’ve been around for years or if you are a recent start-up, an invoice funding company can get you instant cash. Progress billing and paid when paid contracts are a-ok!
Benefits of Invoice Factoring for Subcontractors and Construction Companies
Stop waiting to be paid. Factoring is a smart short-term or long-term financing option. Here’s why many in the industry choose factoring a factoring company for their financing needs:
- Fast funding – Get cash for receivables in 24 hours or less
- No long-term contracts
- No hidden fees
- Easy and fast approval
- Unlimited funding potential
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Why use invoice factoring? Factoring construction invoices sets your company up for success. Obtaining construction financing through a bank requires a lengthy application process and stringent approval terms. If your company lacks collateral or has less than perfect credit, you may not be approved. Even if approved, it’s likely you may not receive adequate funding.
Factor Finders can get your construction company the funding you need – with no debt. Not to mention, factoring helps build your credit because now you have the working capital to take on more customers, bid on larger jobs and pay your suppliers with ease.Start Here
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Funding for Any Type of Construction Business
We understand the cash flow challenges commercial construction companies face. If you’re in the construction industry, factoring invoices is a fast and simple way to improve your cash flow today. Contact us if you’re looking to start a new project or need funds to move on to the next phase of a project.
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How Does Construction Factoring Work?
With construction factoring, a factor purchases your open construction invoices at a discount and advances you between 70 – 80 percent of the cash. Use the money to finance payroll, purchase equipment, pay suppliers, etc. Then, the factoring company bills your customers at the rate and terms you’ve set. Once the invoices are fully paid, the remaining balance is returned minus a small factoring fee.