Banks

Is your institution finding it difficult to extend enough credit to contractors due to any of the following?

  • Unspecified payment terms
  • Unpredictable progress billings
  • Paid When Paid contracts
  • Lien rights of underlying suppliers

Construction Finance specializes in funding these contracting clients.

Our Construction Manager program allows clients and their underlying suppliers to be funded throughout each project.

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Bank FAQs:

Construction Finance is a factoring company, specializing in providing accounts receivable financing for commercial contractors

Yes, Construction Finance regularly factors jobs that involve progress billing.

Often, commercial construction contracts include payment clauses such as ‘Paid when Paid’ and ‘Paid if Paid’.  Construction Finance is happy to provide factoring on these contracts, regardless of the contingent payment clauses.

Unfortunately, since we rely heavily on the strength of the account debtors, we cannot fund residential unless the client is working for a large commercial homebuilder.

Normally, Construction Finance provides funding on work that is already completed.  However, if you have a contractor in need of purchase order financing, feel free to let us know, and we’ll be happy to try to tailor a solution to their needs.

We can fund deals of any size.  Ultimately, credit limits will be dictated by client history, as well as the strength of their account debtors.

Absolutely!  In order to fund directly, Construction Finance does require first position on the client’s UCC-1 Accounts Receivable.  However, we are always happy to work with the bank to draft an inter-creditor agreement that will provide everybody with ample security.

In addition, if the bank would like to use their own money to fund a client’s receivables they can always fund through our Construction Manager program.  This enables the bank to make safe funding decisions, while still giving the client the money they need.