CapitalPlus Construction Services company funded more than $5.34 million in factoring facilities in December.
THe following are brief descriptions of the transactions:
- CapitalPlus provided a Texas-based civil construction contractor with a $1 million factoring line. CapitalPlus entered this partnership to assist this rapidly growing contractor with its cashflow needs. The contractor was presented with a great business opportunity but knew the additional work would tie up the company’s working capital. With this new credit line, the client has positive cash flow and is able to focus on the new projects without worrying about how it would meet its weekly payroll and vendor payments.
- A roofing and siding contractor based in Connecticut took on two new, sizable contracts that had extended payment terms which affected its cash flow and vendor payments. It had several merchant cash advance (MCA) loans and did not want to take on additional high interest rate loans. CapitalPlus offered this company a $500,000 factoring line that paid off the MCAs and provided the cash flow to meet its vendor payments.
- CapitalPlus was able to strengthen a relationship with one of its framing contractors by expanding its factoring facility from $500,000 to $1.5 million. With these funds, the contractor is able to sleep at night knowing it can maintain its valued relationships with its vendors through timely payments.
- A broker introduced CapitalPlus to a civil contractor looking for construction financing. Its immediate need included cash flow support for a large contract. CapitalPlus provided the contractor a $2.2 million factoring facility to support its immediate cash flow needs.
- A start-up telecommunication contractor based in Alabama had invested all of its available capital to get the company off the ground. To support its working capital needs, the firm partnered with CapitalPlus. The young company was able to turn its invoices to cash allowing it to hire new workers to expand the team. The firm is currently factoring $50,000 a month and hopes to double that in the next six months.
- CapitalPlus funded a New Hampshire-based production machinery installation contractor on its last invoice on a $90,000 project it is working on in Vermont.