CapitalPlus Facilitates $3 Million Financing to Support Louisiana Contractor
Knoxville, TN – May 21, 2024 – CapitalPlus Financial Services, a leading provider of receivables financing for the construction industry, is pleased to announce it has provided a $3 million financing facility to a prominent Louisiana-based marine contractor. This strategic funding is designed to augment the contractor's existing $25 million bank facilities, enabling them to secure essential materials for upcoming projects.
The contractor was awarded a substantial project that required a large materials purchase. Although they could have made the purchase without external support, they turned to CapitalPlus.
The strategic collaboration enabled them to capitalize on early pay discounts from suppliers by making advanced payments for materials 60 days ahead of their regular schedule. This financial agility has provided them with a significant competitive edge in the construction sector.
"Our Materials Purchasing Program is specifically designed to address such critical needs," said Curt Powell, Vice President of Sales at CapitalPlus. "By providing timely financial options, we enable our clients to augment their existing bank facilities. This not only covers crucial expenses like payroll and materials but also strategically positions them to confidently undertake larger-than-normal contracts."
About CapitalPlus Financial Services
CapitalPlus Financial Services specializes in providing tailored working capital solutions to the construction industry. With a focus on addressing the unique challenges faced by construction companies, CapitalPlus has established itself as a trusted financial ally since its inception in 1998.
