CapitalPlus Financial Services, a provider of factoring solutions to the construction industry, assisted a concrete and rebar contractor based in Alabama with a $460,000 facility to support working capital needs. This strategic funding has enabled the contractor, who is actively engaged in commercial and public projects across the Southeast, to continue expanding the business without the financial strain of delayed payments.
The challenge of managing cash flow while awaiting payment from retainage invoices posed a potential hurdle to the contractor’s growth. The $460,000 facility provided by CapitalPlus allowed the contractor to bridge this gap, ensuring the ability to meet bi-weekly payroll obligations and start new projects without delay.
“Our client’s ability to take on new projects is a testament to their outstanding performance and reputation in the industry,” Curt Powell, executive vice president of CapitalPlus, said. “We’re proud to support them with the working capital they need to continue growing their business. At CapitalPlus, we understand the unique challenges faced by construction companies and are dedicated to providing solutions that help them succeed.”
