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06-30-2016, 10:09 PM #1
- Join Date
- Mar 2014
- Location
- Ann Arbor, Michigan
- Posts
- 1,289
Factoring Construction Deal
Here's one example of why most factors won't deal with contractors. The factor relies on the contractor to pay their subs and materials. When they don't the owners get hit with a lien and deduct that from what they owe the contractor. The result is the factor does not get paid.
Bob
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06-30-2016, 10:35 PM #2Karen37aGuest
Isn't there a blanket lien they could use? And if not if he settles the mechanics lien is there a waiting period after..or just proof of settlement
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