Spokane’s Clear Choice for Invoice Factoring in Construction
Dedicated to providing construction businesses around Washington (and the rest of the US) with solutions to bridge cash flow gaps, CapitalPlus is proud to be your trusted Spokane factoring company specializing in financing.
Construction Factoring… A Lifesaver for Your Construction Business
Is this you? Company growth so quickly that you are turning away work due to limited working capital. No, how about this? Slow accounts receivable payments are making paying bills nearly impossible. We get it. You quickly need cash to keep doing what you do best… building. If this is you, invoice factoring might just be the alternative financing solution you need.
In most cases, factoring can be a quick and painless process.
What is Factoring and How Does it Work for Your Company?
Factoring is a cashflow-supplementing option where you sell outstanding invoices to a factoring company like CapitalPlus. And no, factoring does not affect the relationship with your client or lock you into long-term agreements. What does it look like?
- You fill out paperwork and become a client.
- After completing a project, submit the invoice to CapitalPlus.
- Receive your 80% advance, in as soon as 48 hours.
- After the invoices are paid in full, CapitalPlus will send you the remaining balance, minus a factoring fee.
Solving your financial shortfalls can really be that simple!
Relief Is Available!
Find out why CapitalPlus is THE Spokane invoice factoring company with a quick call. Reach out to (865) 670-2345 or schedule a callback:
Why Construction Businesses all over Washington have Picked CapitalPlus
Yes, there are several factoring companies available to Washington businesses. However, few focus solely on the construction sector. CapitalPlus is the leading construction factoring company, trusted by Spokane businesses for over 25 years. Focusing solely on construction factoring, we have provided tailored financial solutions to contractors and subcontractors, addressing the unique cash flow challenges of the construction industry.
Construction businesses is all we do...
“We keep you building.“ It’s our mission. We understand the importance of construction to the world and the need to not be constrained.
The Construction-related Trades Served
While several factoring companies serve Washington, few focus exclusively on construction. At CapitalPlus, we’ve spent over 25 years providing financial solutions designed specifically for contractors and subcontractors. Our mission is simple: “We keep you building.”
Spokane’s trades that have been supported by CapitalPlus’s factoring:
- Asphalt & Paving
- Demolition Services
- Electrical Contractor
- Excavation
- Hauling
- Interior Finish
- Oil & Gas Drilling
- Land Clearing & Hauling
- Mechanical
- Painting
- Plumbing
- Rebar
- Roofing
- Structural Steel
- Underground Utilities
If you are looking for a factoring company, give us a call at (865) 670-2345 or schedule a short call.
Real-world Examples — How CapitalPlus Has Helped Construction Companies Across Washington
A Commercial Refrigeration Construction Company in Vancouver
CapitalPlus funded a series of invoices totaling $170,000, allowing the client to purchase new equipment while they work on obtaining a line of credit from their bank.
Renton-based Finishing Subcontractor
The subcontractor was struggling to meet payroll and purchased the needed materials to execute their contract. CapitalPlus was able to offer a $100,000 factoring facility providing quick cash flow.
A Mechanical Contractor in Seattle
CapitalPlus was able to offer a mechanical contractor a $5M factoring facility. The firm had taken on $2M in MCA loans after suffering loses in 2018. With the facility, they were able to pay off the high interest rate debt and get current on union fees.
Why Work with a Factoring Company That Has Intimate Knowledge of Construction?
Because we’ve focused solely on the construction industry for so long, we understand its unique challenges and opportunities, especially location-specific requirements – an vital requirement for top-tier Spokane invoice factoring companies.
Expertise Backed by National Reach, Adapted for Spokane
- Speed of decisions: Our team’s decision-makers are located in-house. With direct communication throughout the team, you won’t face delays often associated with larger, decentralized factoring companies.
- Tailored, Hands-On Service: Unlike giant, generic firms where you can feel like “just another number”, CapitalPlus prioritizes a personalized approach. We take time to understand your business’s specific needs, offering solutions designed for the demands of contractors and subcontractors.
- A Construction-Focused Network: With decades of experience, we’ve developed relationships with construction professionals across Washington state and the rest of the US. This network of industry contacts—from subcontractors to suppliers—can often provide additional value beyond factoring, helping Spokane-area contractors like you make connections that add to your business’s opportunities.
- Flexibility in Funding: National companies often offer rigid funding programs that may not account for the nuances of construction projects. At CapitalPlus, we craft funding solutions that consider our business’s challenges like varied billing practices, retainage terms, and milestone-based payments, ensuring that our services align with your project timelines.
- Knowledge of Regional Regulations: Washington’s construction regulations and lien laws can differ significantly from other states. Our extensive experience helps you navigate these complexities. From lien monitoring to managing receivables efficiently, we help Spokane-based construction businesses like yours stay compliant, minimizing financial risks.
Find our why so many call CapitalPlus Spokane’s Invoice Factoring company. Give us a call at (865) 670-2345 or schedule a callback:
Spokane Washington… A Region Shaped by Construction
Spokane’s unique combination of population growth, infrastructure investment, and business expansion has made it a hotbed area for construction in Washington. The continued development across its cities points to sustained opportunities for contractors and construction businesses:
- Steady Population Growth: Suburbs like Spokane Valley and Liberty Lake have experienced increasing residential development as more families and businesses move into the area. This trend has led to growing demand for housing and supporting infrastructure.
- Infrastructure Improvements: Spokane’s government has prioritized public infrastructure, with road expansions and utility upgrades occurring in areas like Airway Heights and Cheney. These projects provide steady work for contractors involved in public works.
- Affordable Business Climate: The area’s relatively low cost of living and relatively modest permitting processes have made it an attractive location for businesses and construction firms alike.
- Educational Growth: Colleges and universities in Spokane, like Gonzaga and Whitworth, are expanding to meet the needs of a growing student population. This has led to the construction of dormitories, academic buildings, and recreational facilities.
- Proximity to Industrial and Commercial Projects: The region’s affordability and central location make it ideal for logistics hubs and industrial facilities. Recent growth in these sectors has spurred the development of warehouses, distribution centers, and commercial spaces.
Stop being held back waiting on AR payments.
Our team is waiting to answer all your questions about factoring or other financial solutions.