Daily News: June 22, 2016

Capstone Closes Three Factoring Facilities Totaling $2.55MM

Capstone Business Funding and Capstone Credit closed three factoring facilities totaling $2.55 million. The following are descriptions of the transactions:

  • $1 million non-recourse factoring facility of a construction subcontractor that supplies and installs structural steel for new construction and for buildings undergoing renovation. The company is participating in the increased construction activity throughout New York City.
  • $1.275 million non-recourse factoring facility for a Pittsburgh-based waterproofing and roofing company. The company was awarded several major contracts and required additional working capital to keep up with the demand for its services.
  • $275,000 factoring facility for a Maryland-based security company.

Capstone is a non-recourse progress billing factor in the U.S.