CapitalPlus Financial Services, a provider of construction factoring solutions, funded a $500,000 factoring facility for an Illinois-based interior finishing contractor.
The contractor, operating under “pay-when-paid” terms, found itself in a tight financial position as several of their debtor companies pushed back their payment timelines. Despite having continued requests for additional project work and new opportunities on the horizon, the contractor lacked sufficient working capital. The contractor turned to CapitalPlus for a uniquely tailored construction factoring solution.
With the $500,000 factoring facility from CapitalPlus, the contractor was able to stabilize cash flow and accept new projects without being handcuffed by delayed payments. The funding provided the necessary resources to meet weekly payroll and acquire materials for ongoing and newly awarded projects.
“26+ years of working exclusively in the construction industry means our team understands the unique challenges that these construction companies face. We designed our services to help overcome those challenges,” Curt Powell, vice president of sales at CapitalPlus, said. “We’re thrilled to see how our funding has transformed the contractor’s business, giving them the freedom to take on new projects. Allowing companies like this grow and thrive is exactly why we do what we do at CapitalPlus!”
