Construction Company Gains Financial Stability Through Factoring
Operating since 2009, Under Construction, Inc. is a certified minority-owned, woman-owned small business that focuses on construction subcontracting opportunities in north and central Texas. What began as a landscaping company, Under Construction shifted its focus to concrete pavement sawing and sealing in 2012. In addition to the normal cash flow issues that accompany rapid growth, the company was given the opportunity to execute a large project and needed immediate funding to pay vendors, subcontractors, and payroll.
After approaching traditional lending and financing outlets and learning Under Construction’s needs would not be met because of risk, the team connected with Far West Capital. Far West Capital provided Under Construction a credit line of $250,000. In addition to funding, Far West Capital provided models for business structure and systems, such as payroll and bookkeeping processes, that Under Construction needed to grow the business.
“At the time we received our initial funds, the majority of our receivables were aging beyond 60 days, so the speed of the factoring process was essential to financing our growth,” said Robin Johnson, President of Under Construction.
“Far West Capital helped our business grow from $100k to over $1 million in less than a year,” said Johnson. “The team understands how our business works and helped us with specific needs. Far West Capital helped create financial stability for our growing company.”
“Far West Capital also has excellent record-keeping practices and all transactions are completely transparent,” added Johnson. “Overall, the team is very accessible and eager to help in any way. We would and have recommended Far West Capital to other business owners.”