Getting financing for a company in the construction industry is very difficult. In general, lending institutions are not comfortable providing business financing to small or midsized construction subcontractors. Demolition companies often have additional problems getting funded because many institutional lenders view them as riskier - due to the perception that they are often the first ones to do work on a site, but the last ones to get paid. The biggest cash flow problem Demolition companies, like most subcontractors, don’t get paid as soon as they complete their work. Rather, their contracts demand that the provide payment terms to the general contractor. These terms often give the GC up to 60 days to pay. Many general contractors, who … [Read more...]
How to Optimize and Increase Your Factoring Brokerage Revenues
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Most factoring brokers are consummate sales professionals who spend their time talking to small business owners and trying to generate leads. Brokerages come in all varieties. Some brokers focus on a single leads source, such as referrals, and work that source for all their leads. Other brokers run more complex businesses that focus on many sales channels at the same time. An example of the … [Read more...]