Disaster Recovery Factoring Services
When natural disasters happen, people come together to fix what has been damaged and affected. As a business owner, you might find your services in high demand and have an ability to take new projects. Invoice factoring, a form of funding, will increase your cash flow quickly so you can do the work you need to do. Whether the clients you’re billing are in Texas, Louisiana, Florida or any other U.S. state, we can get you the funding you need. Factoring can be a great option for many different industries and we can get your business funded with these services:
- Spot factoring
- PO financing
- Accounts receivable (invoice) factoring
All with the most competitive rates in the financing industry, from funders who want to help your business. Learn about the benefits of factoring invoices.
Why Factor Your Invoices for Disaster Relief Projects?
When you’re working for disaster recovery from a hurricane, tornado or flood, you may be billing the local, state or federal government and you may not get paid for 30-60+ days, sometimes longer. This makes it hard to for you to pay other expenses or continue to work on the project or task due to a lack of cash flow. Factoring can give you the funds you need to make payroll, continue taking opportunities and deal with the constantly changing cash flow volumes.
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Factoring for Disaster Relief Transportation
In times when disaster strikes, the increase demand for relief supplies and debris removal means that trucking will be in high demand as well. Whether you’re hauling for FEMA, DOT or a local government, the payment process for government contracts will be slow. Transportation factoring helps you get the cash you need to continue accepting new jobs and have steady funds.
If your loads are booked through a freight broker government contract, factoring can be valuable for you because there are no minimum volume requirements, discount fuel cards, fuel advances and other additional benefits. When a hurricane, tornado or flood happens, gas prices can increase and having fuel cards or advances can be the make or break point for hauling a load. Don’t turn down the opportunity to help with disaster relief and grow your trucking business.
Staffing Factoring for Recovery Efforts
Especially when a disaster strikes, such as Hurricane Harvey, the increase in demand for staffing agencies can rise quickly and unexpectedly. Your clients may pay you in 30-60+ days, making it hard to for you to pay other expenses due to a lack of cash flow. In disaster recovery staffing, it may take even longer because you’ll be working with local, state or federal organizations that have a lot of paperwork to go through.
Other than helping you fund payroll, factoring will provide your staffing agency the cash to accept the contract in the first place. It takes money to take new opportunities and factoring solves the problem that temporary staffing agencies face, varying cash flow volumes.
Construction Factoring for Disaster Relief
The power of hurricanes, storms, tornadoes and earthquakes can be so strong that the damage left behind is overwhelming. Construction companies are responsible for rebuilding what was destroyed and fixing infrastructure from concrete work to demolition, utilities and eventually landscaping.
As a construction company business owner, you understand the stress of needing to purchase new equipment, pay your workers and cover upfront costs of projects and we understand that you need a solution that gets you the money immediately without long-term contracts, and construction factoring is right for your business when you have disaster recovery projects.
Oilfield Factoring After Disaster
Hiring new staff after a disaster to work for your oil company is the only way to get it running at its full potential. In order to pay these employees you need the cash from invoices that might not be paid for weeks. Factoring solves this problem and helps you focus on getting your job done well rather than stressing about paying your workers.
The oil and gas industry is obviously an important part of the economy and when it is affected by a disaster such as a hurricane, it is felt nationwide. Factoring helps oilfield businesses that do environmental cleanup, fracking services, oilfield equipment rental and more.