Invoice Factoring for Contractors
Construction factoring for contractors and subcontractors ensures your construction business has steady cash flow to cover large projects and contracts. Contractors get immediate cash to fulfill big government jobs. Factor Finders can help you worry less about how to cover the costs of your next contract or project with invoice factoring services specifically designed for the construction industry. We’re ready to help you obtain the funding you need to compete for larger jobs. Factoring helps construction companies with progress billing and paid when paid contracts access immediate cash to cover payroll, manage overhead expenses, pay suppliers and bid on more lucrative contracts.
No matter whether your company is big or small, we know you cannot wait for your invoices to be paid by late customers. As a contractor, gaining a government construction project is a big accomplishment. Although, this accomplishment comes with many stressful rules and regulations that need to be sorted out before a job can begin. The last thing you need at the end of all the hard work is to not get paid on time. When jobs start piling up and you need money for equipment or payroll, contractor invoice factoring can help. This will free up working capital so that your business can continue to grow, leaving you debt free.
Request A Quote
The Invoice Factoring Process
First, there is a simple application and qualification process that takes three days to complete. Then the contractor, or subcontractor, sends their invoices to the contractor invoice factoring company. The factor will then advance the contractor up to 80% of the face value of that invoice within 24 hours. Once the factor is paid, the remaining amount is given to the contractor, minus a factoring fee.
This is debt free process where the factored money may be used however the contractor chooses. Your money will be available in 24 hours after the inital three day process. Unlike a bank loank where you have to wait 30-90 days to get paid, this process is quick and easy. You never have to worry about when you will be funded.
We Can Help You Build Your Business
Call us today to get started @ 855-322-8671
Benefits of Invoice Factoring For Contractors and Construction Companies
Invoice Factoring Needs Little or No Credit
Contractor invoice factoring company approval is based on your customers’ credit-worthiness, not yours. Because of this, small- and medium-sized construction businesses can grow without having a solid credit score. Additionally, new customers can be added on an ongoing basis, meaning credit lines are virtually unlimited. Contractor invoice factoring allows companies to gain financial freedom so that you can pay down debt without adding anymore negatives to your balance sheet.
Gain an Edge Against Competition
Don’t let cash shortages happen. Factor Finders and our funding partners understand shortages in cash flow occur as you wait 30, 45, or 60 days for your customers to pay. Contractor invoice factoring services enable you to sell your receivables for instant cash. Many contractors use this cash to pay suppliers early and receive discounts.
Administrative Support Available
Running a contracting business and keeping track of which customers need to pay which invoices can be daunting and exhausting. Factor Finders will set you up with a contractor invoice factoring company that can help take care of any administrative duties that you need. From invoicing to running credit checks to following up with debtors, your factor is there every step of the way.
Flexibility for Your Contractors
With Factor Finders, it doesn’t matter whether you’ve been in business for 12 months, or 12 years. Traditional lending sources can be difficult to work with and it can be virtually impossible to gain additional funds if you aren’t a perfect candidate. Contractor invoice factoring allows you to have a flexible program so that you can get the funds you need, when you need them. There are no minimums or maximums that you have to factor every month, giving you complete control of your finances. Factor Finders will partner you with the best contractor invoice factoring company in their nationwide network to suit your needs. All you have to do is fill out a form to get a quote, and we will do the rest!
Invoice Factoring Works Anywhere!
No matter where you’re located, we have funding partners across the United States. Find your state below:
Select Your Industry
