At all stages:
Unlike manufacturing, construction is a long term process whether it is building a single unit or a number of buildings. The contractor who works on the projects that he has undertaken may be in need of finances at any point in time which might not be coming through when it was really needed. The backlog may be caused due to various reasons. It can be the interim problem, the problem due to the clients or from any other side. In such difficult and critical situations the contract might be very thankful for the any source of cash for the completion of the project or for initiating a new project. Here the role of the factoring companies is a major factor here and the contractor has to be very diligent in understanding the construction factoring rates however crucial the finance is.
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Note the features:
- Before signing up with any factoring company for the construction business, the seeker of finance has to do a lot of homework and the details and read between the lines especially the terms and conditions and the policy of the company that you are approaching for finance.
- They have the best funding structure and the rates are very easy to operate with.
- The rates that they work with are usually at about 80 per cent. But it can range between 70 to 80 percent and many contractors are happy with the rates that are offered from them.
- They give more than what the contractor expects and they are quite flexible in their approach towards the finance seeking companies.
- You can avail the funds within 48 hours and this is quite a quick way of offering funds for the contractors.
- The contractor can reach out to them with a very simple email or by filling in the format that is available on the webpage and get in touch with them.
- They do not demand any costs and commitment from the contractor or the funds seeking company.
- They assist with the other areas of financing as well at reasonable rates and the company can avail finance at any stage of the project and the construction factoring rates are most reasonable as mentioned above and the contractor can reach out at any time they need factoring funds.