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SELLING CONSTRUCTION RECEIVABLES 

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Factoring is the purchase of Accounts Receivables for immediate cash.

The basic structure of factoring makes it an ideal choice for contractors, subcontractors, construction managers, suppliers and all other construction-related businesses.
Basically, a factor will provide a business with quick cash and often in 24 -48 hours or less, by buying that business's Accounts Receivables.

Factors aren't actually lending money so there are no monthly payments required. The client determines exactly how much cash they need at any given time and the clients credit worthiness is never an issue, only the credit worthiness of the companies that owe the client money.

Because construction jobs are typically billed by progress billing, the need for cash can mean meeting payroll, making taxes, paying workers compensation, union dues, insurance or just buying the materials necessary to complete the job. 

Selling your construction receivables provides a cash flow of working capital to expand and grow your business.

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FAQ's

How does factoring work?

Once you have delivered a product or preformed a service for a creditworthy corporation or institution contact us prior to sending your invoice to your customer. Once the factor confirms with your customer that the work has been completed or the goods delivered and accepted, they will advance you a percentage of the face value of the invoice amount in cash. When your customer pays the factor, you receive the balance less the factors discount.

How do I qualify?

The credit decisions are based on the strength of your customers, not you.It is easy to qualify if you meet the following criteria:
Your customer must be another (creditworthy) business. Your invoice must be a valid one for goods sold and delivered or services rendered - to your customers satisfaction.
We will verify each invoice with your customer.
You can sell invoices up to $500,000.00 or more

What does it cost?

A discount fee typically starts at 4% and is determined by the number of days that elapse from the day funds are advanced to you until the day your customer pays the factor. The factors discount is paid only after the payment on the invoice has been collected. Additionally there is a processing fee and a deposit to offset the cost of running lien and judgement searches, preparing legal documents and running credit information on your customers.

How fast can I get the money for my invoice?

In many states it can take up to a week to get on-line. Once on-line, your invoices can be funded within 24 hours, once verification of the invoice is received.

How do I get started?

In order to get on-line submit a client profile, your Accounts Recevable Aging Schedule as well as a customer list and your company's D&B Report. Once your receivables are analyzed and the factor expresses an interest in proceeding with your funding, a proposal will be issued and a list of documentation needed to start the due diligence process.

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Call us today
for your free consultation or submit a client profile on line