CapitalPlus Provides $250,000 Spot Factoring Facility to Arizona-Based Concrete Subcontractor

Knoxville, TN – May 1, 2024CapitalPlus Financial Services, a leader in construction-specific factoring, announced today that it has extended a $250,000 spot factoring working capital facility to a rapidly growing concrete subcontractor based in Arizona.

Unable to secure traditional bank financing, the newly established subcontractor turned to CapitalPlus to support their burgeoning business needs. Because lines of credit from banks favor established companies, financial options can be few and far between, especially for the construction trade. For this reason, the subcontractor turned to CapitalPlus’ spot factoring solution. Fewer application requirements and quicker funding allowed them to proactively place larger material orders with their suppliers and compete for more substantial projects.

“Helping construction companies manage their financial operations more effectively and grow, particularly when facing limitations, is at the core of what we do,” said Curt Powell, Vice President of Sales. “Our tailored factoring services ensure that new and growing companies in the construction sector have the working capital they need to succeed.”

If you would like to discuss financial solutions like this example and how they can specifically support the construction business, call us at 865-670-2345.

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