Invoice Factoring For Construction Supply Companies
The construction industry has endured a difficult time in recent years. Many construction companies went out of business. Those that survived started taking longer to pay their invoices. Invoices that used to be paid in net 30 days now take net 60 or even longer to pay. This has created a serious problem for small construction supply companies because few can really afford to wait that long for their funds. They have their own obligations, payroll and accounts payable, and depend on their client’s timely payments to be able to meet those expenses. GMA Factor offers construction supply companies a steady stream of cash through the invoice factoring of their account receivables.
Factoring accelerates the revenues due from slow paying invoices, providing you with the funds you need to cover your operational expenses. One of the biggest benefits of construction factoring is that the financing line is dynamic and tied to your sales. This means that your available financing will grow, as long as your sales to credit worthy commercial companies grow. This is an ideal cash flow solution for small and medium sized construction suppliers.
To qualify, your company needs to be free of legal and tax problems and your customers need to be reliable payers. It’s okay if they pay slowly, provided that they pay reliably. GMA Factor advances you up to 99% of the invoice amount immediately, and gives the remaining balance when your customers settle in full.
GMA Factor does not sign you on to any long-term contracts. Our agreements allow you the flexibility to factor what you want, when you want. You can pick and choose the accounts that you want to factor. Get started immediately by filling out the quick application on the right-hand side of this page or go to our online or downloadable application.