Category: Blog
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Everything You Need to Know About Construction BondsConstruction bonds are a critical component of the construction industry, offering financial protection and ensuring project completion. Whether you’re bidding on public projects, working with private owners, or managing subcontractors, understanding the various types of bonds and their roles can save your business from unexpected risks. This guide breaks down the essential details about bid...
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What is the Difference Between AR Factoring and AR Financing?Similar names, contrasting requirements and benefits. The difference between AR Factoring and AR Financing needs to be understood in order to pick which is best for helping with day-to-day cash flow issues.
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Recourse vs Non-Recourse Factoring: Balancing Risk and CostsFactoring is a popular financial tool, especially in industries like construction. It offers quick access to cash while waiting for client payments. However, the decision between recourse factoring and non-recourse factoring is crucial for construction company owners. Understanding the difference is essential for choosing the option that best fits your business’s unique needs.
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Is an MCA Actually Best for Your Construction Business? Explore A Better AlternativeWhen cash flow issues hit your construction business, especially during the wait for accounts receivable, the need for quick financing becomes urgent. Many construction companies, especially small to medium-sized ones, turn to Merchant Cash Advances (MCAs) as a fast solution. But before you sign that MCA agreement, it’s worth exploring if there’s a better alternative:...
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Bidding on Federal Contracts - Financial Risks Small Contractors Must UnderstandTaking on government projects may seem appealing to construction companies looking for the promise of steady, long-term projects. However, the potential financial risks associated with taking on federal contracts should not be overlooked. According to the Small Business Administration’s data, even though 23% of government contracts are reserved for small businesses, many face challenges meeting...
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How Invoice Factoring Helps Drywall Businesses ThriveThe accounts receivable payment cycles of 45-90 days can really stretch cash flow thin making it difficult to pay your team and purchase required materials. This is when invoice factoring for drywall businesses can be a beneficial financial solution. Factoring provides an easier influx of cash by turning outstanding invoices into quick working capital.
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5 Ways to Determine if a Factoring Company is TrustworthyWhen you’re looking to grow your construction business, quick and easy access to cash flow can make all the difference in keeping your business running smoothly. That’s where a trustworthy factoring company comes in. Knowing you’re working with a reputable company brings needed peace of mind, allowing you to focus on running and growing your...
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Understanding Factoring for HVAC Contractors — When Is It The Best Option?The seasonal “feast or famine” job cycle of the HVAC industry means they are likely juggling multiple projects with different payment schedules. This makes managing daily working capital a challenge, especially for smaller HVAC businesses. In fact, according to AC/Heating/Refrigeration News, the biggest reason that HVAC companies fail is a lack of cash flow to...
