Press Release: Contractor Factoring Helping Small Business Owners
(For immediate release) Miami, Florida – Commercial Capital LLC’s newly launched contractor factoring is helping small contractor firms get paid quickly. Construction factoring, a type of factoring, eliminates the usually 30 to 60 day timeframe that contractors need to wait to get their invoices paid.
Slow paying invoices can be the biggest hurdles that stand between a contractor that thrives and one that doesn’t. Construction contractors run very cash flow intensive businesses with constant payroll and supplier payments draining their resources. Few can afford to wait 30 or 60 days to get paid, which is why factoring invoices offers a great business financing solution for them.
“Receivables factoring is a great tool for the construction industry,” said Marco Terry, president of Commercial Capital LLC. “By eliminating the long payment waits, it allows contractors to meet their expenses and grow” he added.
Accounts receivable factoring can help most construction companies. Some examples include companies in asphalt, concrete, HVAC, electrical works, roofing, and carpentry among others.
A big advantage of factoring is that it can be set up in days and it’s very easy to qualify for. As opposed to the lengthy requirements of a business loan, the biggest requirement for factoring is that you do business with good commercial or government customers.
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