Quickpay Provides $200K Invoice Factoring Facility to Ship Repair Company
August 6, 2025 – Quickpay Funding (“Quickpay”) has established a $200,000 invoice factoring facility for a California-based ship repair company specializing in critical maintenance and fabrication services for U.S. Navy vessels. The new facility offers the critical working capital needed to manage labor costs, purchase materials, and rapidly mobilize for time-sensitive defense projects.
The client plays a vital role in the maritime industry, providing essential services such as sheet metal fabrication, welding, structural work, and pipe work across a wide range of U.S. Navy ships. With a focus on technical expertise and compliance with stringent naval standards, the company has secured multiple contracts requiring immediate access to funds for labor and materials to ensure timely project execution.
“The ship repair industry, especially when supporting the U.S. Navy, faces unique financial demands,” said Veronica Beach, Vice President and COO of Quickpay Funding. “Companies often need to front substantial costs for highly skilled labor and specialized materials, while navigating extended payment cycles from large government contracts. Our invoice factoring solutions are specifically designed to provide the immediate cash flow necessary to meet these operational challenges, ensuring critical projects can proceed without delay.”
By partnering with Quickpay, this ship repair contractor now has consistent access to working capital, allowing them to:
Manage labor costs: Ensure on-time payroll for skilled welders, fabricators, and technicians.
Purchase materials: Secure high-quality materials required for naval repairs and compliance with military standards.
Support rapid mobilization: Meet tight project deadlines and take on new contracts without cash flow constraints.
About Quickpay
Quickpay Funding is a leading invoice factoring company specializing in fast, flexible financial solutions for businesses in Transportation & Logistics, Produce & Agriculture, Oil & Gas, Staffing, Commercial Cleaning Services, and more. We’re known for our 24/7 funding, leveraging cutting-edge technology like Real-Time Payments to ensure clients have access to their funds whenever they need them—day or night.
Our best-in-class customer service and experienced management team are committed to understanding the unique challenges of each industry we serve. We offer tailored solutions that empower small and medium-sized businesses to thrive. When you’re ready for financial experts who are dedicated to seeing the potential of your business, choose Quickpay Funding as your trusted financial partner. Our team will provide innovative solutions to meet your cash flow needs, allowing you to focus on what you do best: running your business.
To learn more about Quickpay Funding, visit quickpayfunding.com