Client: An HVAC, Electrical, and Plumbing (MEP) contractor based in Ohio
Situation: Due to the pandemic, the firm’s bank could not expand their current line of credit, but wanted to retain the relationship. We worked alongside the bank and negotiated an intercreditor agreement to provide additional capital.
Solution: $1,000,000 Construction Factoring Facility
Result: With our factoring facility added to the bank line of credit, the client was able to take on several new projects, catch up on aging accounts payable, and pay their monthly union dues.