Managerial Teams for Contractors
The contractor factoring program helps steady your cash flow so you can complete projects more quickly and add additional customers. Contractors also benefit by gaining a management team to monitor both projects and accounts receivables. Instead of spending time and energy on managing finances, contractors can re-focus on project completion.
When you work with Factor Finders, your management team will include a disbursing agent who manages your payroll, along with working directly with your subcontractors and suppliers. The agent also is responsible for both outgoing and incoming payments. Loan defaults or liens will be avoided with your agent’s direction.
Proper financial management can quickly elevate businesses and help owners get an advantage over their competitors. At Factor Finders, along with our funding partners, we understand are sympathetic to cash flow shortages while you wait anywhere from one to three months for payment. The Factor Finders contractor financing program allows you to get fast cash when you sell your receivables. Many of our contractor customers use this cash to receive discounts on early supplier payment.
Reach Goals with Contractor Financing
Small to mid-sized contractor and purchaser businesses can grow quickly with contractor financing as funding decisions are based on customer’s credit worthiness. Add new customers on a rolling basis. This means that your credit lines can be practically unlimited. In fact, most vendors can only take on new contracts by using factoring. There is also a huge benefit to purchasers who can now fulfill vendor diversity mandates with both minority owned and local businesses.
Start Benefiting from Construction Factoring Now:
- Sell us your invoices
- Get a cash advance in three to five business days
- Get the balance on the invoice/account when the customers pay, less the fee of around 3%.
- Nothing is owed, no debt is added to your books.
You already know that getting a bank loan requires many steps, including credit checks, credit history and a strong financial record. And of course, there’s always the long wait before a decision is even made. Then, many businesses that do get their loans can’t get more money or more credit with their business grows.
Learn more about the Contractor Financing Program: Factor Finders funds Small, Independent Contractors