CapitalPlus Financial Services, a provider of construction-focused financial solutions, extended a $1 million factoring facility to a Florida-based underground utility contractor. This financing solution is designed to allow the contractor to focus on growth and timely payment to its subcontractors.
The contractor sought CapitalPlus’ support to bridge the gap between project completion and client payments, preventing the need to decline new opportunities. Through CapitalPlus’ accounts receivable factoring, the contractor was able to convert outstanding invoices into immediate cash flow, allowing the business to grow confidently. This financial flexibility also enabled the contractor to pay subcontractors promptly, safeguarding the entire project pipeline from cash flow interruptions.
“Because we have been doing this for so many years, we understand the unique financial challenges of businesses like this industry,” Curt Powell, executive vice president of CapitalPlus Financial Services, said. “With this working capital facility, this contractor can continue expanding their project scope without having to choose between maintaining cash flow or growing their business.”
