Business services company accelerates growth with a $750K factoring line
AR Funding is proud to welcome this asphalt paving and maintenance company as one of its newest clients.
AT A GLANCE
Industry: Business services
Location: SC
Company size: ~$750,000 annual revenue
Reason for applying: Finance growth through subcontracting
Cash available through factoring: $750,000
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PROBLEM: Subcontracting costs create cash-flow issues
Founded in 2021, this asphalt paving and maintenance contractor specializes in commercial asphalt paving, maintenance, curbing, sealing, and line painting. Their diverse customer base includes manufacturers, religious institutions, property management companies, and retirement homes, and the company was growing fast.
The company’s expansion plans involved subcontracting some of the labor, but because it can’t invoice customers until the completion of the work, a lack of cash flow is preventing them from taking on contracts with larger companies.
SOLUTION: $750,000 factoring credit line
The company applied for an equipment loan from the Small Business Administration (SBA), and the owner was connected to a consultant at the Small Business Development Center. The consultant suggested the owner look into invoice factoring and recommended AR Funding.
AR Funding was able to extend the company a $750,000 factoring line, which will enable the owner to smooth out cash flow today and be ready to take on bigger clients with lengthier payment terms in the future.
This happy client received financing with help from Crawford Reeves, Regional VP, Southeast Region. Find out how much cash your company can access through invoice factoring. Talk to us.
