Results 1 to 7 of 7
-
06-02-2020, 10:08 AM #1
Residential Milestone Contracting Factoring
Good Morning DF.. Does anyone know any good Factoring companies. Looking for Residential Milestone Contracting Factoring.
PLEASE NO BROKERSFUND3R1
"Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we've got 24 hours each. --Christopher Rice"
-
06-02-2020, 10:14 AM #2
- Join Date
- Feb 2017
- Posts
- 3,429
You CANNOT factor B2C. If this is a subcontractor, there are a several of them that can do it, but if you're working with the GC, forget about it.
-
06-02-2020, 10:18 AM #3
-
06-02-2020, 11:27 AM #4
- Join Date
- Feb 2017
- Posts
- 3,429
I personally work with over a dozen depending on the deal. There are so many reasons to use one factor over another. Industry, pricing, if they need out to 120 days, the way they factor (if they require all AR to go through them or not, for example), minimum volume requirements, if the client is profitable, how much the factor tolerates MCA debt to pay it off (or go after subordination), minimum credit requirements for the client, TIB, if the client has negative bank days, if they have equipment and/or inventory to qualify for a LOC rather than a regular factoring.
-
06-02-2020, 01:48 PM #5
-
06-02-2020, 01:56 PM #6
- Join Date
- Feb 2017
- Posts
- 3,429
I'm going to give you a secret about factors. Many factors will point you to others who can do the deal. I was once shuffled through something like 5 factors, all were trade references of the other one, once before finding a home. Start with Kevin at Seacoast. He's here, he's accessible, he doesn't waste time, but he does have a slightly higher bar for the quality of the deals he funds.
-
06-03-2020, 01:37 PM #7
Similar Threads
-
Factoring for residential construction company - whom can help?
By Zonefund in forum Deal BinReplies: 1Last Post: 05-23-2020, 09:29 PM -
Is anyone doing Residential Contracting / Roofing right now?
By Quickfunder in forum Deal BinReplies: 3Last Post: 03-19-2020, 11:14 AM -
Need invoice factoring facility for an established contracting company
By Richierichard in forum All Other LendingReplies: 0Last Post: 08-10-2017, 06:39 PM -
seeking lender or funder that does invoice factoring for contracting company
By Richierichard in forum All Other LendingReplies: 0Last Post: 08-09-2017, 09:04 PM -
Seeking Lender or Funder that will do invoice factoring for contracting company
By Richierichard in forum Deal BinReplies: 0Last Post: 08-09-2017, 08:59 PM