CapitalPlus Financial Services, a provider of construction invoice factoring, successfully onboarded a California-based technology installation company. The company, previously partnered with another factoring firm, faced potential disruptions when its former provider ceased funding businesses in California.
When the previous factoring firm announced its withdrawal from California, the technology installation company was left scrambling to find a new funding partner to avoid missing crucial payroll deadlines. CapitalPlus Financial Services quickly intervened, offering its construction-specific solution by acquiring both the company’s outstanding accounts receivable and new invoices, providing $800,000 in factoring to allow the contractor to continue uninterrupted operations.
“At CapitalPlus, we understand the critical nature of consistent cash flow in the construction industry, especially when it comes to making payroll,” Curt Powell, executive vice president of CapitalPlus, said. “We were able to step in and provide the necessary funding, bringing peace of mind to all involved. This demonstrates our commitment to supporting the construction industry in ways and at times when it is needed most.”
