Welcome to South Florida Funding Group – Your Business Funding Source
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Construction Company Funding

Starting a construction company is no easy task. This is because of the considerable amount of funding needed to get started. Getting a traditional loan can be difficult, especially if you have nothing to act as collateral or the backing of well-established businesses as something a lending company can trust. This is where alternative business funding comes into play.

One of the biggest challenges in construction company funding, even for those who manage to get traditional loans, is paying off the loans with the work that is completed. This is because invoicing can take from 60 to 90 days or more to get the money from the client. This is where invoice factoring can be most helpful in generating quicker amounts of cash.

Invoice Factoring

This is a process where the construction company sells the invoice to a third party usually for a percentage. The result is that the construction company gets the money immediately while the third party collects from the client. Getting immediate cash for your construction company generally means the following;

  • Cash on hand for new equipment
  • Meeting payroll and other payments
  • Paying off the loan in a timely manner

This type of alternative business funding offers considerable advantages that come with the cost. For many construction company owners, it is well worth getting a large percentage of what is due compared to waiting for up to three months for the invoice to finally pay off.

Paying the Percentage

Most third-party companies that accept invoice factoring will generally pay 60% to 80% of the invoice on the spot and keep the rest. This is admittedly a high percentage for getting cash quickly, but there are ways to use this form of construction company funding to your advantage.

Raise Cash in 24 Hours: From the time it takes to sell the invoice to get the cash in your account is usually one business day upon approval. Quite often, the money is in your account even faster, although the bank will usually wait a day for notification.

Emergency Bills: An unexpected bill or fee can really upset your financial situation. This is where cashing in an invoice can really help you pay it off without having to take out another loan.

Concentrate More on Your Business: Once you simplify the process of collecting the money from your invoices, you can now focus your attention on expanding your client base. This means paying more attention to the needs of your company and less on worrying about an invoice coming in.

It also helps that invoice factoring does not have the same strict requirements of traditional funding. This means that if your credit rating is less than perfect, it does not really matter as it is the client who is paying.

Invoice factoring when properly used is the type of alternative business funding that can really help you get started paying off your loans, meeting emergency payments, and raising quick cash for new equipment. When combined with traditional construction company funding, it offers your business real flexibility in meeting obligations while allowing you to focus on getting new projects.

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The business funding you need when others say No!.

2569 Bay Pointe Dr.
Weston FL 33327

Email:
drew@southfloridafundinggroup.com 

786-544-2700

DISCLAIMER

 The operator of this website is NOT a lender, does not make offers for loans, and does not broker online loans to lenders or lender partners. Customers who arrive at www.SouthFloridaFundingGroup.com are matched with a lender or a lender partner, who offer business loan products or credit repair services.