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Construction Factoring
Cash-Flow Solutions
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Your General Contractor waits to get paid from the Owner. You wait to get paid from the General Contractor or a subcontractor. You need cash now to:
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- Make payroll
- Pay a supplier to get discounts
- To start a new job
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Advanced Funding Solutions, LLC (AFS) can help your firm through our construction-factoring program. Over the years we have factored contractors and subcontractors. We have factored window and door manufacturers, concrete providers, heating repair and installation, electricians, environmental service providers and others.
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Factoring Construction Receivables requires different standards than factoring other types of receivables. The following comments assume you are a subcontractor:
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- Lien Rights: You must assign all lien rights to Advanced Funding Solutions. If the state requires preliminary notices, these must be filed on time.
- Verification of Invoices: Your debtor must be willing to sign a verification that states he owes you money for work completed.
- Payment of Suppliers from Advances: We generally advance 70 to 80% to our clients. In some cases, we must direct some of this advance directly to your suppliers. This is handled on a case-by-case basis.
- We will not fund retainage, liens, offsets, charge backs or claims.
- The average customer will pay 3-4%of the gross invoice aged 30 days, 6% if aged 60 days.
- Bonding: If the job is bonded, the bonding agency must either put Advanced Funding Solutions in a first UCC-1 position on the receivables OR pay AFS for invoices factored if the Bonding agency takes over the job.
- General Contractor: The same rules apply to General Contractors in privity with the owner as discussed above.
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Please contact us by phone at 1-800-622-6384 for a free consultation. You may also reach us via email at info@advancedfundingsolutionsllc.com.
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Contact
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 1-800-622-6384
1-212-658-9717 FAX
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Apply now!
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here
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