When payments trickle in sporadically, it’s hard for any business to maintain a healthy cash flow. Tthe construction industry has been hit particularly hard given the struggling economy and the looming housing crisis.
New construction is difficult to get approved and once jobs are complete, it’s become increasingly more difficult for contractors and subcontractors to get paid. Coupled with the fact that business lending is at an all-time low, and construction companies are left without many options to expand their businesses.
Having to wait an average of 80 days to be paid for your construction work is simply not an option when you need cash to meet payroll, buy new materials and pay vendors. Luckily, EZ Invoice Factoring has a way for construction contractors and subcontractors to improve their cash flow drastically—construction invoice factoring.
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How to Know If Construction Invoice Factoring is Right for Your Business
Construction companies of all sizes can benefit from EZ Invoice Factoring’s construction factoring program. If you want specifics, review the following questions to see if construction factoring is the right financing option for your business:
- Do you have to wait a long time for your invoices to get paid?
- Are you struggling to pay your suppliers on time?
- Do you have poor personal credit?
- Have you ever had to hold off on paying your workers until you received a payment from a client?
- Are you unable to grow your construction company because you don’t have enough cash to buy new equipment?
Additional Construction Factoring Services
- Construction Factoring
- Factoring in the Construction Industry
- Construction Factoring Benefits
- Construction Invoice Factoring Help Guide
- Factoring for Construction Subcontractors
- Spot Factoring for Construction Companies
- Construction Invoice Factoring vs. Bank Loans
- Cash Flow Solutions for Construction Companies
If you answered YES to any of the questions above, then construction invoice factoring is definitely a good financing option for your business. Contact EZ Invoice Factoring today to get more construction invoice factoring information.
