CapitalPlus Construction Services, the leading provider of accounts receivable financing for the construction industry, is helping contractors of all sizes get back to a semblance of normal with much-needed liquidity. As construction companies across the country are beginning to plan for large projects, they are finding their traditional lines of credit are not sufficient and banks are unwilling to increase them. Many are relying on CapitalPlus factoring to purchase materials for new projects, increase staffing levels and pay vendors in a timely manner to take advantage of discounts. June’s transactions demonstrated that Capital Plus can offer a dependable funding solution during uncertain economic times.
Representative transactions included:
- $3.2 million funding of a $7 million Construction Factoring Facility for a flooring contractor in Illinois.
- $500,000 of a $2 million Construction Factoring Facility for a painting and drywall contractor in Louisiana
- $407,000 Construction Factoring Facility for a phase one demolition invoice on a $10,600,000 contract for a demolition, excavation and drilling contractor in New York
- $100,000 Spot Factoring for an interior/exterior retail construction firm in South Carolina
- $42,000 funding of a $100,000 Construction Factoring Facility for a renovation contractor in Maryland
- $15,000 initial funding of a $500,000 Construction Factoring Facility for a finishing contractor in Maryland