Factoring for Bonded & Non-Bonded General Contractors
If you are a General Contractor, you know how difficult arranging financing can be if you are not bankable or under-bankable (the bank just gives you enough money to fail). Our people on the GC desk have both Commercial General Contractor and surety bond backgrounds and experience. We understand both the needs of your customers (Private or Government) and the bonding company.
The Contractor Accounts Receivable Factoring Program is designed to provide working capital for specific projects/contracts. Both for General Contractors (GC’s) and Sub-Contractors (Subs) through the factoring of project receivables. These contracts can be with a private, public or government entity. Whether a municipal, county, state or federal agency either directly or through a General Contractor.
The contractor submits the contract they want to be funded to us for an initial plan review, the contract is reviewed along with the contractor’s budget and, once approved for factoring, a construction/funding schedule is established. As work is being completed and progress billings/invoices are generated by the contractor and approved by the owner/GC, we advance up to 75% of the amount of the factored invoice to provide the needed working capital to pay the bills related to the project.
We Can Fund General Contractors When:
- You need $50,000-$10,000,000 per month
- Monthly AIA Progress Billing and Bonded Projects Accepted
- Funding for progress billing or a single invoice
- Public or privately funded, bonded or non-bonded
- As long as surety does not have UCC filed and does not require surety provided funds control
- We require first position lien on your accounts receivable
We can have you a written funding proposal in as little as 24 hours! Call 866-355-8245 or e-mail us.
Complete our safe and secure online funding application and attach your AR aging and construction contracts. We stand ready to help you grow your General Construction Company.