Payroll Funding for Construction
Construction Company Payroll Financing
Construction Staffing Funding Summary
Construction companies are seeking payroll financing and face difficulty for many reasons. Construction staffing factoring provides fast financing to companies that sell unpaid accounts receivable (AR) invoices for upfront working capital. Staffing Factor financing also helps construction companies over cash flow obstacles with bad debt protection.
- Construction labor and staffing factor financing helps overcome bank loan denials and provides immediate cash flow funding.
- Factoring invoices or AR factoring injects working capital into construction companies without taking on balance sheet liabilities.
- Construction companies can receive up to 93% of their total AR balance in cash funding within 3 to 5 days.
The Best Construction Staffing Financing Company
Cash flow issues hinder the ability of construction companies to acquire additional contracts and grow their business. Cable industry construction requires payroll financing of working capital to deliver on-time work. Bankers Factoring is the Best Construction Financing Company for businesses needing fast working capital.
The Best Construction Factoring Financing company helps construction contractors and companies obtain working capital to finance operations and new projects. Selling your unpaid invoices to Bankers Factoring is a quick, debt-free financing tool for construction companies.
Bankers Factoring has partnered with and provided customized cash flow and invoice factoring programs in the following areas:
- Cable and Telecom Factoring
- Fiber and Utility Company Factor Financing
- Construction Staffing Factoring
- Directional Drill Company Financing
- Oil and Gas Factoring
Construction contractor financing is critical for startups, small businesses, and government contractors. Bankers Factoring provides exclusive government factoring services to construction contractors and companies. Our team understands how vital cash flow funding and financing are to construction operations.
In this article, we cover:
- Construction Invoice Financing Overview
- What is construction factoring?
- Financing Funding Issues Construction Companies Face
- How do you factor construction invoices?
- Benefits of construction company financing with AR factoring
- Bankers Factoring The Best Construction Financing Company
Construction Invoice Financing Overview
Construction contracting companies with unpaid accounts receivable (AR) invoices can sell their AR for cash funding. Invoice factor financing provides fast working capital through cash flow funding. With Bankers Factoring quick online funding application, construction companies can seek cash flow financing within 3 to 5 days.
Invoice factor financing helps the not-yet bankable businesses by financing construction companies based on their customer creditworthiness. Factoring invoices helps startups, small businesses, and other commercial entities secure funding without balance sheet debt. Construction companies need reliable funding sources throughout lengthy projects to cover payroll funding, leases, and other payable obligations.
What is construction staffing factoring or construction payroll financing?
Construction companies in a bind for financing solutions utilize A/R invoice factoring when banks and traditional lenders are unavailable. Construction factor financing is a simple process where the construction company sells its unpaid AR to Bankers Factoring in exchange for two cash advances.
Construction factoring cash disbursements:
- Initial cash advance from 80 to 93% of total AR value, on the same day as application approval
- Second and final cash rebate for the remaining invoice balance less the small factoring fee
Construction factoring provides immediate financing to businesses with staffing expenses, long-term projects, or after a bank loan denial. Factoring AR invoices is an alternative commercial funding method for companies that cannot obtain traditional financing. Bankers Factoring provides the best factoring services to construction companies needing fast working capital.
Contact Bankers Factoring to develop a payroll financing plan for your construction company.
Financing Funding Issues Construction Companies Face
Like many other industries, the construction industry faces challenges in funding new companies. Factor financing helps construction companies finance projects, payroll, and operating expenses to overcome cash flow obstacles. Some of the typical challenges construction companies face include:
- Poor business owner credit
- Lack of business history
- Liens on business assets
- Recent bankruptcy
- Payroll funding and paying staff
- Capital financings such as equipment, facility, and significant assets
- Overhead expenses
- Back taxes
To learn more, visit our previous article, “How Does a Factoring Company Work?”
How do you factor construction invoices?
Construction company invoice factoring is a straightforward process that begins with submitting an online funding application. Bankers Factoring, a factoring company, looks at the creditworthiness of our client’s customers. Construction contractors working with large commercial entities can secure large financing lines with construction factor financing.
The four-step process of construction AR invoice factoring:
- Submit an online funding application
- Bankers Factoring approves your factoring financing line within 3 to 5 days of your application.
- Bankers Factoring cash advances up to 93% of your total AR value the same day as approval.
- Bankers Factoring remits or rebates the remaining balance, less our small factoring fee. This step concludes the factoring agreement once the customer or account debtor pays in full.
Benefits of construction company financing with AR factoring
Fast cash flow financing is the benefit of selling invoices or factoring invoices. AR factoring payroll financing provides quick cash flow to pay for payroll funding, overhead expenses, and the cost of customer acquisition. Construction companies need consistent funding sources to keep up with business operations.
- 3 to 5-day application, approval, and funding process
- Financially distressed businesses and business owners qualify
- Up to 93% cash advances for selling unpaid invoices
- Non-debt financing vehicle
- Bankers Factoring credit and bad debt protection with non-recourse invoice factoring
Cash flow is critical for all businesses, including construction companies. Construction payroll factoring is designed to prevent significant cash flow issues for firms lacking the traditional bank support as major companies.
Bankers Factoring The Best Construction Staffing Financing Company
Bankers Factoring, the Best Construction Staffing Financing Company provides credit protection, fast funding, and 24/7 online reporting to our construction clients. The best construction factoring company enhances clients’ performance with reliable, protected, and consistent cash flow. Bankers Factoring enables construction companies to promote business growth with cash funding and business financing.