Client: A steel fabrication and erection contractor headquartered in Florida
Situation: Due to the nature of fabricating, this firm exhausted a large amount of their working capital on the front end of their projects for materials, resulting in cash being tight for payroll. They began work on a sizable contract with a repeat debtor who had shown exceptional payment turnaround on their last project and knew they would need further support. An existing CapitalPlus client, we were able to increase their factoring facility from $250,000 to $400,000.
Solution: $400,000 Construction Factoring Facility
Result: The increased cash flow gave them the breathing room they needed and allowed them to meet payroll and supplier terms.