Invoice factoring can help construction companies cover expenses on a project before the GC or property owner actually pays their invoice. The delay between invoicing and getting paid can be difficult for companies without sufficient cash reserves. In the meantime, they still have project expenses to meet. If they submit the first invoice after 30 days, they won’t get paid until the GC, architect, and owner review and approve their application. When a construction project is first starting, subcontractors have to wait quite a while before their first payment comes in. There are a number of reasons why a contractor would consider factoring over other methods of construction finance.
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