Get access to cash using your unpaid invoices with spot factoring. CapitalPlus will buy a single invoice or several invoices giving you the cash flow you need to get ahead of your bills.
Spot factoring (also known as spot invoice factoring, selective factoring, or single invoice factoring) is a type of funding where you sell an unpaid invoice at a discount to a factoring company. The factoring company will then advance you a percent of the invoice amount, typically 70-90%. Upon receipt of payment from the debtor, they will send you the remaining balance less any fees.
Spot factoring allows you to pick an individual invoice you want to sell compared to selling multiple or all your invoices like other forms of invoice factoring. Spot factoring companies like CapitalPlus allow you to have access to working capital while THEY wait for payment… so you don’t have to!
When you need additional cash flow, Spot factoring provides you the flexibility to select what invoices you wish to sell. There are no extended contract obligations. You have the opportunity to choose when you need our assistance and what to use the money for.
Spot factoring, also known as spot invoice factoring or single invoice factoring, can be a great financial option for many businesses throughout the construction industry. Over the past 25+ years, we have spot-factored electrical invoices, concrete invoices, mechanical invoices, and thousands of others.
We would love to show you how Spot Factoring can give your construction business options. Give us a call (865-670-2345) or schedule one:
You use when you need the freedom of no long-term contracts.
We can give you cash today for your yet-to-be-paid invoices.
Startup companies with limited or no credit history welcomed!
We are a direct funding source with decision-makers onsite.
We offer in-house underwriting for quick decision-making.
There are no monthly minimums.
We provide funding when others won’t, such as funding bonded projects, Pay-When-Paid contracts, Progress Billing, or when in a distressed situation.
We work with other lenders like banks, PO and ABL lenders for refinancing and restructuring of facilities.
Our experienced financial and construction industry experts are happy to answer all your spot factoring questions – call 865-670-2345 today.
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Our construction financing solutions and services allow you to focus your time and money on building and growing your business without worrying about working capital or back office functions. We give you steady access to cash flow to help you grow – for operating costs, new or large contract needs, acquisitions, and more.
If you are new to CapitalPlus Financial Services or factoring in general, we hope that we can give you the information you need to make the best decision for your company’s working capital needs.
Invoice factoring is cash flow-supporting solution where you sell your accounts receivables, i.e. outstanding invoices, to a factoring company for immediate funding. This means you do not have to wait the 30-90 days for payment. Factoring companies provide billions of dollars to a wide range of industries - from multi-million-dollar corporations to small privately held construction companies each year.
Factoring provides an immediate source of cash flow for your company. Because can choose where the money is needed most, it can be used to take on more or larger projects, to meet payroll, pay taxes, replenish inventory, increase advertising, purchase equipment, improve your credit rating, and so much more.
When we purchase an invoice, we advance you a percentage of the face value. This advance rate amount varies based on the situation, your needs, and an overall risk assessment of your client. Generally, you will receive up to 80% right away, then receive the remaining reserve (less fee) after we receive your client's payment. We are 100% transparent about our fees so there are never any surprises.
When we purchase your invoice and advance a portion, the remaining 20-30% will be held in reserve. After we receive payment from your customer, that reserve is wired back to you, less our fee.
The established factoring fee is a percentage of the purchase amount and the length of time it takes to collect. The amount is determined by the risk of each invoice purchased, the pay term, and the number of invoices being factored. Because of this, any fees will be laid out during your introduction call.
It is your choice how frequently you provide invoices for purchase. Just like buying in bulk at your favorite grocery store, you can receive a discount for committing to a higher volume of invoices. When you reach out for the first time, you will be assigned an Executive Account Representative. Tell your representative your needs and they will help you understand how you get the most out of factoring for the best price.
No. Most contracts specifically define how your invoices should be prepared and when they should be submitted. We have contract experts on staff who can help you understand the requirements and help you comply with invoice formats.
No. The name on the check remains yours. You will, however, be required to change the remittance address of that check to our lock box.
