Knoxville, TN – Oct. 10, 2024 – CapitalPlus Financial Services, a leading provider of factoring services for the construction industry, is pleased to announce the successful facilitation of a $500,000 factoring facility for a growing interior finishing contractor based in Illinois. This strategic partnership comes at a crucial time as the contractor faced significant cash flow challenges due to delayed payments from several debtors operating under “pay-when-paid” terms.
The contractor, known for its high-quality craftsmanship and reliability, found itself in a tight spot when their debtors began delaying payments. Despite these delays, the contractor was still receiving requests for additional work, creating financial difficulty as they lacked the necessary cash flow to take on these and new projects.
The contractor turned to CapitalPlus Financial Services for a tailored financial solution. With extensive experience serving the construction industry, CapitalPlus quickly provided a $500,000 funding infusion. This facility enabled the contractor to maintain operations seamlessly, purchase essential materials, and meet weekly payroll obligations on time.
“26+ years of working exclusively in the construction industry means our team understands the unique challenges that these construction companies face. We designed our services to help overcome those challenges”
said Curt Powell, VP of Sales at CapitalPlus Financial Services. “We’re thrilled to see how this funding has transformed the contractor’s business, giving them the freedom to take on new projects. Helping companies like this grow and thrive is exactly why we do what we do at CapitalPlus!”
If you have questions about our financial solutions and how they can specifically support the construction industry, call us at (865) 670-2345.
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