Get Paid Sooner with Construction Factoring
Factoring construction invoices can get you the funding you need! Whether you are rapidly growing, struggling with payroll expenses, or having trouble taking on bigger contracts, construction invoice factoring can help.
Invoice Factoring for Construction Projects
Construction companies face lots of upfront expenses. If you’re waiting 30, 45, 60+ days to be paid for a projector service, covering payroll and paying for supplies, equipment and materials can be a challenge. For a small or expanding subcontractor (or contractor) without enough cash reserves, financing project costs can feel like an impossible task.
If your construction firm would like to get paid faster for finished stages of a project or a completed project, accounts receivable factoring is a fantastic short-term solution. Contractors, subcontractors, suppliers, and small or large construction companies benefit from factoring.
We work with a variety of factoring companies for the construction industry and work to quickly match you up with a construction factoring program that can best fit your requirements. The companies we partner with are credible, knowledgeable, and specialize in the construction field – which means they are comfortable with progress billing and pay-when-paid contracts.
- Construction factoring rates at industry-lows
- No long-term contract is required
- Same-day funding
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How Does Construction Factoring Work?
A factoring company buys your open invoices & advances you the cash, minus a small percentage. The cost of factoring varies depending on the industry you operate in. In most cases, you’ll receive a cash advance in less than 24 hours. The customer pays the invoice amount to the factoring company at the terms you previously agreed upon. Once paid in full, the discounted amount is returned, less a minimal factoring fee for services provided.
Construction Factoring is a Flexible Financing Option
Financing construction projects can be tough. The small business lending market remains tight and often leaves construction companies without options for funding. If the bank approves your construction loan, there is no guarantee that you will get the right amount of cash for your business. Additionally, you will be stuck with a loan that you have to pay back. Factoring is not a loan – it’s a cash advance on your outstanding receivables. It’s simply a way to get paid sooner.
- No credit check for your company
- Fast financing — You can receive funding
in 24 hours or less
- No loan to repay
- No hidden factoring fees
- Highest advance rates in the industry
- You get to choose which invoices you factor
- No minimums
- No long-term contracts
- Progress billing is okay
Apply Online Today!
Get a free quote @ 855-322-8671
Funding for Contractors and Subcontractors
Factor Finders works with a variety of companies throughout the construction industry:
- General Contractors
- Sub Contractors
- Steel Fabricators
- Underground Utilities
- Electrical Contractors
Don’t see your niche listed here? No worries. Give us a call and we will take care of the rest.