Success StoriesWe give you the tools you need to build business, and the bottom line.
We’re thrilled to use our industry expertise and construction financing solutions to help our clients grow and succeed. Take a look at how our solutions have helped other companies like yours.
Client: A construction company based in Texas
Situation: Covid-19 related impacts created delays in the project Schedule. As a result, the debtors’ payments were delayed creating cashflow concerns. The company needed funds fast in order to make payroll.
Solution: $200,000 Construction Factoring Facility
Result: CapitalPlus was able to underwrite and have the funds to the client within four business days so no one missed a paycheck.
Client: A demolition, excavation and drilling contractor based in New York
Situation: This company had previously factored with CapitalPlus, so when they needed additional liquidity to take on a large project, they knew exactly where to turn.
Solution: $407,000 Construction Factoring Facility for a phase one demolition invoice on a $10,600,000 contract
Result: The contractor was able to meet payroll and start purchasing the needed materials for phase two.
Client: A finishing contractor based in Maryland.
Situation: This growing client had several large projects on the horizon and knew their $300k bank line of credit would not give them enough working capital to stay on schedule. Despite being a long-term bank customer, the bank denied their request for an increase due to COVID-19 uncertainty. Since their upcoming projects are spread over several debtors, CapitalPlus was able to offer them a factoring facility.
Solution: $15,000 initial funding of a $500,000 Construction Factoring Facility
Result: The company was able to pay off their existing $300k line of credit with their bank, and now has the working capital flexibility they need to stay on schedule. In addition, the factoring facility can be increased by establishing a payment history and adding new debtors.
Client: A renovation contractor in Maryland
Situation: The company had a contract for a project with Howard University to renovate several buildings but did not have enough cash on hand to meet expenses.
Solution: $42,000 initial funding of a $100,000 Construction Factoring Facility
Result: The company was able to catch up on payments to vendors and subcontractors.
Client: A flooring contractor based in Illinois
Situation: Project schedules were extended due to COVID-19 which left the company cash-constrained, but they still had expenses to meet.
Solution: $3,200,000 funding on their $7,000,000 Construction Factoring Facility
Result: The company was able to meet payroll while waiting for projects to resume.
Client: Interior and exterior retail subcontractor working for major retail stores in South Carolina
Situation: Unexpected building supply purchases left the company with a short term liquidity shortfall.
Solution: $100,000 Spot Factoring Facility
Result: The company was able to purchase the needed supplies, and established a relationship with us that will serve them well for unexpected needs in the future
Client: A painting and drywall contractor based in Louisiana
Situation: COVID-19 slowed some of their projects which, due to the nature of their progress billing contract, stalled expected cashflow and left them unable to meet expenses.
Solution: $500,000 of a $2,000,000 Construction Factoring Facility
Result: Our funding helped the company meet their weekly payroll and vendor payments, as well as provide the cash flow they needed to continue to taking on new projects
Client: An HVAC Contractor based in Arizona
Situation: The firm won a contract to assist with a new project on a military base in Yuma, AZ but needed additional liquidity to meet expenses.
Solution: $55,000 Construction Factoring Facility
Result: The firm was able to meet payroll and supply costs to help complete the project as well as take on future projects.
Client: An interior finishing contractor based in Florida
Situation: The contractor was awarded a large contract but due to COVID-19 pausing the project, they needed a cash flow infusion to meet their subcontractor and vendor payments.
Solution: $150,000 Construction Factoring Facility
Result: The firm was able to fund their milestone payments, ultimately helping them meet their contract obligations.
Client: An interior/exterior contractor specializing in retirement communities and low income housing based in Virginia
Situation: The company was not able to obtain a traditional bank line due to time in business and rapid growth.
Solution: $3,000,000 Construction Factoring Facility
Result: The contractor was able to show their debtors that they had the financial backing to take on more contracts, meet their subcontractor payments, vendor payments, and payroll needs.