Construction Finance provided a $250,000 credit facility to a commercial painter in Louisiana.
The contractor had a substantial bank line of credit and no desire to leave its bank. However, the bank’s line alone wasn’t enough to provide them with the working capital it needed.
Construction Finance worked with the bank to create an arrangement that would allow it to fund several of the client’s large progress billing jobs while the bank remained on-board for the remainder of the client’s A/R.
This provided the best of both worlds for all involved, since the client will now have access to as much capital as possible at the lowest possible cost. Meanwhile, both Construction Finance and the bank enjoy an ongoing relationship with a responsibly-capitalized client.
