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Construction
Contractor & Sub-Contractor Financing
"Invoice Factoring"
2 - 5 %
Same Day Funding
Same day cash flow to your company.
- Instant cash that can be used to meet Payroll, or simply provide working capital.
- Allows you time to concentrate all of your time and energy on
- Managing and expanding your business.
- Security against credit-risky customers.
- No monthly payments and no bad debts incurred.
- We take the responsibility of collection
- Your invoices funded the same day.
- Reserves are calculated and rebated on a weekly basis.
Factoring is an excellent fit for contractors.
If your looking to take your business to the next level and bid for those larger contracts, this form of financing has helped many mid-sized builders and contractors move into the commercial arena and larger contracts.
Construction Subcontractor Factoring
Are you a subcontractor working on a project? Are you waiting 30, 60 or even 90 days to get paid by the GC or your client? With HRH Funding solutions you can get your invoices paid in as little as 2 days, eliminating long payment waits and providing you with predictable cash flow. And, as opposed to bank financing, construction factoring is easy to obtain and can be setup in days.
What can construction factoring is do for your business?
Construction subcontractors have a challenge: paying employees and paying suppliers on time. This can be a problem if you have to wait 30 to 60 days to get paid by your general contractor. Especially if your business is growing (or new) and doesn't have a significant cash cushion. Construction factoring is a form of invoice financing that can get you funds for invoices quickly and effectively. It can give you the necessary funds to meet your current expenses and take on larger jobs.
How does construction factoring work?
Using contractor factoring is very simple and integrates well to most companies. The process works as follows:
- You deliver your products or services to your customer
- You send an invoice to your client and send a copy to us
- We verify the invoice with the General.
- We advance 80 to 90% (the remaining 20% is used as a reserve)
- We wait to get paid by the General or Customer
- Once we get paid, we rebate the 20% reserve (less a small discount) our fee.
Construction factoring is easy to obtain.
Construction factoring is different from bank financing. For starters it is fairly easy to obtain and can be set up very quickly. The biggest requirement is that you work with general contractors or commercial customers that pay their invoices reliably in 90days or less.
Due Diligence Checklist
These documents will be required along with application.
( If your a start up, we work with what you have )
Many of these documents are required by The Patriot Act " 9/11 "
This requires background checks
- Signed financing application.
- Current A/R aging report.
- Current P/L statement.
- Current accounts payable aging.
- Last 2 years financial statement ( balance sheet & income statement )
- Articles of incorporation and any amendments
- Income tax returns ( last two years ) Top 2 pages only.
- Payroll Tax returns, form 941( last 2 quarters )
- Proof of payroll tax deposits.
- Customer list, name, address, phone, fax, & contact name.
- Upon approval of your customers background checks we start factoring.
Note: Start-ups are not expected to have all of the above documents, give us a call
Construction Financing
"Invoice Factoring"
CALL
856-690-1695
Fax: 609-939-0573
HRH Funding Solutions
Construction Factoring
Contractor & Sub-Contractor Financing
"Invoice Factoring"
HRH Funding Solutions
Helping Business Growth Since 2002
Unlimited Working Capital
Lets Get Started
24 hour funding
Name
E Mail
Phone
Additional.
Contractor Factoring Sub-Contractor
856-690-1695
Take on Larger Contracts
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