We recently had a chance to speak with Sharon, from a company in Wisconsin who provides underground marking services, who is utilizing CapitalPlus Equity’s construction factoring services. Since many contractors might be unfamiliar with the benefits of construction factoring for contractors she wanted to share their experience.
Please tell us about your business.
We have been in business for over 20 years and we provide locating and marking of underground facilities such as water, sewer, cable, etc. services for major corporate and government clients.
Prior to partnering with CapitalPlus Equity, as your factoring company, how long was it taking you to collect on invoices?
It was taking close to 30 days for our invoices to be paid.
What affect has factoring had on your business?
Receiving our payments in a timely manner has enabled us to pay our employees on a regular schedule and have cash on hand for other bills.
How do your customers feel about you using CapitalPlus as your factoring company?
It has not affected our customers in any way, their payments are simply directed to an alternate source.
Would you recommend factoring with CapitalPlus Equity to other contractors?
I would recommend it to any small business that is working on a very tight financial schedule and/or budget.