(For immediate release) Miami, Florida – Commercial Capital LLC’s newly launched contractor factoring program is helping small contractor firms get paid quickly. Contractor factoring – a type of factoring – eliminates the usual 30- to 60-day time frame that contractors must wait to get their invoices paid.
Slow-paying invoices can be the biggest hurdles standing between a contractor and success. Construction contractors run very cash-flow-intensive businesses, with constant payroll and supplier payments draining their resources. Because few contractors can afford to wait 30 or 60 days to get paid, 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.
Contractor factoring can help most construction companies. Some examples include companies in asphalt, concrete, HVAC, electrical works, roofing, and carpentry, among others.
A major advantage of factoring is that it can be set up in days and it’s very easy to qualify for. Unlike the lengthy requirements of a business loan, the primary requirement for factoring is that you do business with good commercial or government customers.
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