We recently had a chance to speak with James N., from an Interior Carpentry Company in NJ, who is utilizing CapitalPlus Equity’s construction factoring services. Since many contractors might be unfamiliar with construction factoring for contractors he wanted to share his experience.
Tell us about your business.
We are a NJ based Interior Carpentry Company working as a Subcontractor to large CM’s. We have done work in NJ, NY and PA; however, most of our work is in NYC.
Prior to partnering with CapitalPlus, as your factoring company, how long was it taking you to collect on invoices?
What affect has factoring had on your business?
Our cash flow demands (both project and company) are satisfied more readily. The relationship with CapitalPlus has provided us with a stabilization of our cash flow and allowed us to become more aggressive in bidding.
How do your customers feel about you using CapitalPlus as your factoring company?
We have not received any complaints and the customers have been responsive to our requests for document execution to secure the relationship with CapitalPlus. Candidly, our use of CapitalPlus presents us as professional and aggressive.