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07-20-2016, 01:04 PM #1
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- Join Date
- Mar 2015
- Location
- Boynton Beach
- Posts
- 3,485
Construction
DF,
I have been getting a lot of calls lately for construction factoring or asset based lines of credit. We typically avoid the industry because the receivables can be difficult to finance because of bonding requirements, progress/milestone billing, and pay-when-pay contracts.
We have financed companies on the fringes of the industry. We will consider the following:
-Vendors/Suppliers to major home builders. Roofers, paver companies, drywall, millwork, etc...
-Revenues in excess of $5mil/year
-Must be on terms N30-N60
-Limited sub-contractors working for them to do jobs
-Must have contracts and purchase orders for each job. Work must be approved before invoicing.
-It would be great if the end customers utilize workflow/billing systems. A lot of large home builders like Lennar require their vendors to use their systems.
If you discover a building products manufacturer of distributor....we really like them!
If you have any questions, please give me a call or send an e-mail....
Best,
KevinKevin Henry
VP-Business Development
Seacoast Business Funding, a division of Seacoast Bank
561-850-9346
Kevin.Henry@SeacoastBF.com
1880 N Congress Ave., Suite 404
Boynton Beach, FL 33426
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