Knoxville, TN – February 27, 2024 – CapitalPlus Financial Services, a leading provider of customized working capital solutions for the construction industry, has successfully facilitated $250,000 in funding for an Oregon-based site development company experiencing growth challenges.
The company, seeking to expand its operations in 2024 by bidding on larger commercial projects, faced cash flow constraints after securing its first major contract of the year. With an expanded workforce, the company encountered difficulties meeting payroll obligations, exacerbated by the inability to secure traditional bank financing due to its relatively young business age.
“We see it all too often, the excitement of winning a large new project quickly turns sour by the realization that daily cash flow won’t be able to keep up,” remarked Curt Powell, CapitalPlus’ Vice President of Sales. “At this critical time while waiting on payment, having stop-gap financial resources is vital for getting them over the hump.”
CapitalPlus’ intervention enabled the site development company to address immediate payroll shortfalls, ensuring operational continuity, and facilitating proactive team expansion in anticipation of future project wins.
Powell emphasized CapitalPlus’ dedication to fostering business growth: “Empowering our clients to thrive fuels our sense of purpose. Being instrumental in their success is incredibly rewarding.”
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