What is Factoring?
Unfortunately, the days of going up to the General Contractor’s Tailgate on Friday afternoon to get your check are long gone.
From Bidding Invitations, Bid Bonds, Performance bonds, Retainage, to the final Punch list, getting paid for the work you did is now much more involved.
Factoring offsets payment delays caused by so many new requirements.
A factor (Construction Finance) will purchase your Accounts Receivable today for a discounted rate today. The General Contractor will submit future payment on this invoice to Construction Finance since the we have already paid for these services.
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Here's a great video that explain construction factoring in a flash!
Contact John Sawyer at Construction Finance today for more information!
870-243-6429
