Funding-Construction- is a national asset-based factor and lender that helps contractors and subcontractors who are not able to borrow or collect money from a bank get paid on their invoices right now.

We realize at Funding-Construction that contractors and subcontractors have a difficult time on receiving payments on time and that they need money right now.  There can be multiple contracts and jobs going on at one time for a contractor and they need the money for their supplies and other materials and that is why you should use Funding-Construction. 

Take advantage of trade discounts by having the cash available to pay up-front for supplies, equipment, etc.

Factoring vs Asset Based Lending

Factoring

Minimum Transaction:     No minimum transaction size, BUT $250 minimum discount fee per transaction
Maximum:                         No maximum - based solely on creditworthiness of debtors
Approval Time:                 Immediate
Funding Time:                   Initial transaction: 5-7 business days, 24-48 hours thereafter.
Guarantee:                        Non-recourse to the client
Advance:                          Commercial Accounts – up to 70%
                                          Construction – up to 60%
 

Fees/Rates:                      First 30 days, up to 4% on face of invoices
                                          1% each 10 days thereafter

Processing Fee:               (Up Front) $750 ($500 processing fee and a deposit of $250 which shall be applied to the cost of running lien and judgment searches and filing UCC-  1  financing statement(s) or any other public records required by Quantum to comply with applicable state or federal laws)

Lien Position:                     Quantum takes a first lien position on all assets. We will file a blanket UCC-1

Notification: Invoices are purchased on a notification & verification basis. We notify our clients' customers that we have purchased the invoices and verify that the work has been completed and accepted (or goods have been received and accepted) and that payment will be remitted directly to Quantum. An Assignment Letter will also be sent to the clients' customers as formal (legal) notification.

Asset Based Lending

Minimum Transaction:               $100,000 line

Maximum:                              $2,000,000
Approval Time:                       Immediate
Funding Time:                         3 weeks
Guarantee:                              Full recourse
Advance:                                 80% of eligible receivables up to 90 days
 

Fees/Rates:                             Prime + 3 - 4½% on outstanding balance
                                                 7/10 - 1% per month service fee on loan balance monitoring fee
                                                 1% line fee annually

Processing Fee: (Up Front)     $1,500 - $5,000 (legal fees & audit)
Notification:                              Non-notification
Lien Position:                            Same (all assets)
 

Ready to be a Client with Funding-Construction Get Started Now