Knoxville, TN, August 21, 2024 – CapitalPlus Financial Services, a leading provider of construction invoice factoring, is proud to announce the successful onboarding of a California-based technology installation company. The company, previously engaged with another factoring firm, faced potential disruptions when their former provider ceased funding businesses in California.
When the previous factoring firm announced its withdrawal from California, the technology installation company was left scrambling to find a new funding partner to avoid missing crucial payroll deadlines. CapitalPlus Financial Services quickly intervened, offering their construction-specific solution by acquiring both the company’s outstanding accounts receivable and their new invoices, providing $800,000 in factoring to allow the contractor to continue uninterrupted operations.
The seamless transition not only covered the company’s immediate cash flow needs but also established a long-term relationship that can be relied upon if the need arises again.
“At CapitalPlus, we understand the critical nature of consistent cash flow in the construction industry, especially when it comes to making payroll,” explained Curt Powell, Executive Vice President.
“We were able to step in and provide the necessary funding bringing peace of mind to all involved. This is a testament to our commitment to supporting the construction industry in ways and at times when it is needed most.”
As the go-to partner for installation and other construction-related companies since 1998, CapitalPlus’ specialized factoring services supports the industry’s unique needs. By purchasing both the outstanding and new receivables, CapitalPlus ensured that the technology installation company could maintain its momentum, keep its projects on track, and most importantly, pay its employees on time.
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.
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