CapitalPlus Construction Services provided over $1.9 million in factoring facilities to seven clients in March 2019.
Transactions in March included:
- Supported a metal framing and drywall firm located in Georgia with a $200,000 factoring facility to meet payroll and pay vendors
- Provided a $75,000 factoring facility to a Maryland masonry contractor to help keep its projects running smoothly in Washington D.C.
- Provided $20,000 to a commercial electrical contractor in northern California which specializes in the wiring systems for fueling and underground storage at retail gas stations. The cashflow allowed the client to fund and start a new project.
- Funded commercial refrigeration construction and repair company out of Washington and purchased two invoices totaling $170,000
- Provided working capital to a client who specialized in audio and visual wiring. By spot factoring a $160,000-dollar invoice, the client was able to set up a whole new electrical sound system for a school district in Eastern Pennsylvania.
- Entered into a contract factoring arrangement for a $1.2 million contract with the second largest Masonry company in Maryland. Through the factoring of the first $100,000 invoice, the client had the working capital to start the project on a good note.
- Provided $69,000 to a commercial concrete contractor in Indiana, which allowed it to pay its vendors in a timely fashion as well as its employees.
For over 18 years, Knoxville, TN-based CapitalPlus Construction Services has provided receivables financing to the construction industry.