Knoxville, TN, September 3, 2024 – CapitalPlus Financial Services, a leading provider of factoring solutions to the construction industry, has successfully assisted a concrete and rebar contractor based in Alabama with a $460,000 facility to support their working capital needs. This strategic funding has enabled the contractor, who is actively engaged in commercial and public projects across the Southeast, to continue expanding their business without the financial strain of delayed payments.
With a proven track record of excellence, the contractor has been consistently invited to bid on new projects by their clients, leading to a significant increase in workload. However, the challenge of managing cash flow while awaiting payment from accounts receivable posed a potential hurdle to their growth. The $460k facility provided by CapitalPlus allowed the contractor to bridge this gap, ensuring they could meet their bi-weekly payroll obligations, and start new projects without delay.
“Our client’s ability to take on new projects is a testament to their outstanding performance and reputation in the industry,” said Curt Powell, Executive Vice President of CapitalPlus.
“We’re proud to support them with the working capital they need to continue growing their business. At CapitalPlus, we understand the unique challenges faced by construction companies and are dedicated to providing solutions that help them succeed.”
As the Southeast continues to see a rise in infrastructure and commercial development, CapitalPlus remains committed to supporting contractors with flexible financial solutions tailored to their specific needs.
If your funding source has fallen through, or you are just beginning research into financial options, CapitalPlus is here to help. Give us a call at 865-670-2345 to find out if we are a fit for your business.
>> Related Reading: What Exactly is Factoring and What Can I Expect When Using It?
Back to news