Knoxville, TN – Dec. 9, 2024 – is proud to announce the successful funding of a $750,000 working capital facility for a California-based Department of Transportation guardrail and fencing contractor. This facility enabled the contractor to strengthen supplier relationships, enhance project execution, and position their business for long-term success.
The contractor sought factoring to address cash flow challenges associated with delayed payments on these large projects. By converting their accounts receivables into cash, they were able to pay suppliers ahead of schedule, strengthened the relationship leading to them extending their credit facilities. This financial flexibility also allowed them to pay subcontractors earlier, ensuring seamless execution of current projects while building trust for the future projects.
Curt Powell, Executive Vice President of CapitalPlus, commented on the funding:
“At CapitalPlus, we understand the unique challenges faced by contractors working on government projects. Factoring is not just about cash flow—it’s about empowering businesses to grow stronger relationships with suppliers and subcontractors. This facility highlights how turning receivables into cash can help contractors focus on delivering high-quality results while securing opportunities for growth.”
Find out how factoring might also benefit your business’s cash flow constraints — call us at (865) 670-2345.
Back to news