Category: Blog
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Finding Needed Working Capital with Factoring for Roofing ContractorsFor roofing contractors, managing cash flow efficiently is paramount—not just for sustaining operations but for fueling growth. Juggling multiple projects with extended payment terms often strains financial resources. In fact, the Small Business Administration states that a large part of why most roofing contractors’ businesses fail is due to financial issues. This is why you...
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Invoice Factoring for Finishing Contractors - Unlocking Financial SolutionsIn the construction world, the wait for client payments post-project completion is a familiar pain point, especially for finishing contractors. This gap, often stretching from 30 to 90 days, can limit cash flow and put a brake on growth, leading to operational headaches that every contractor would rather avoid. Invoice factoring emerges as a beacon...
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Why Banks Say No to Construction Loans - Insights from A Former Loan OfficerWhat are the top reasons why banks say no to construction loans? We discuss this question with Mike Matousek, getting his unique insight having spent 14 years as a Senior Loan Officer at BrightBridge Capital and CFO for a construction firm before that.
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Benefits of Invoice Factoring for Concrete SubcontractorsIn bustling cities like Dallas and New York, the role of concrete contractors and subcontractors is undeniable. They literally lay the groundwork for the buildings that cover our entire country. Yet, while common in all areas of construction, these players often face a common issue: navigating the gap between project completion and payment—a challenge that...
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Invoice Factoring for Electrical Contractors— Unlocking Cash FlowWhen you’re an electrical contractor, managing cash flow effectively is not just a skill—it’s an art. One financial tool that stands out for its ability to bridge the gap between project completion and payment is invoice factoring for electrical contractors. This solution not only ensures that your working capital remains available but also empowers your...
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Reasons to Set Up a Factoring Account Even if You Don't Plan to Use ItIn the dynamic world of construction, financial foresight is not just beneficial – it’s essential. Having a backup plan for unexpected financial challenges is crucial. One such strategy is setting up an accounts receivable (AR) factoring account. Even if you don’t anticipate using it immediately (or ever), the benefits of being proactive will save you...
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The Importance of a Well-Structured Construction InvoiceAs a construction business owner, you know that managing your finances is crucial to the success of your company. One important aspect of this is creating and sending out invoices to your clients. However, not all invoices are created equal. A well-structured construction invoice can make a significant difference in the clarity of your operations...
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Factoring Fees and Contract Terms You MUST UnderstandOnce you have decided to use factoring as a way to increase the cash flow for your business, you have to decide which factoring company is right for you. The first thing to look for in a factoring company is that they have experience working with companies in your industry. Once you have narrowed the...