nFusion Capital, a provider of financing solutions to small and middle-market businesses, provided a $2 million factoring facility to a civil engineering contractor operating in Texas and Louisiana. The flexible financing will provide liquidity to support the company’s expansion into high-profile contracts and infrastructure development.
After the company’s previous lender decided to exit the construction lending business, the company sought a new financing partner. Additionally, the firm had recently hired an industry expert who brought a strong pipeline of contracts that resulted in a need for additional capital to fund the projects. nFusion Capital structured a $2 million factoring facility based on accounts receivable to provide the working capital needed to fund growth and accelerate project execution.
“Led by an experienced serial entrepreneur, this Company has tremendous potential for growth,” Brice Reid, senior vice president, business development at nFusion Capital, said. “We’re excited to support their expansion and help fuel continued success.”
With this new facility in place, the company can satisfy its previous obligations, pay subcontractors more quickly and invest in future high-profile projects.
