TMI & Partners Factoring Services
Factoring is a long-standing business practice that helps companies manage their cash flow by selling their outstanding invoices to a third party at a discount for immediate cash. It’s an effective way to transfer risk and get the working capital you need, especially in the construction industry. TMI & Partners specializes in providing comprehensive factoring solutions and operational support to help both general contractors and subcontractors achieve their financial goals.
Construction Factoring Services
Factoring & Financing
- Accounts Receivable Financing: Get working capital by leveraging your company’s outstanding invoices.
- Spot Factoring: Get immediate cash by selling a single invoice or a small batch of invoices.
- Invoice Financing: Borrow money directly against the value of your invoices.
- Government Contracts Financing: Specialized funding for businesses with government contracts.
- Bulk Factoring: Sell a large volume of invoices at once for a significant cash injection.
- Contract Factoring: Secure financing based on the value of a specific contract.
Materials Purchasing
- For Contractors & Subcontractors: We assist in the procurement and financing of construction materials.
- For Materials Suppliers: Our financial services help suppliers manage sales and improve their cash flow.
Insurance
- Workers’ Compensation: Provides coverage for employees injured on the job.
- General Liability: Protects your business against claims of bodily injury or property damage.
Back-Office Support
- Funds Control: We manage the flow of funds for your projects to ensure proper and timely disbursement.
- Lien Compliance: Our team helps you navigate the complex legal requirements related to construction liens.
- Bookkeeping: We handle your daily financial record-keeping so you can focus on your business.
- Risk Management: We identify and mitigate financial and operational risks to protect your company.
Non Construction Factoring Services
Application:
The online application takes about 15-20 minutes to complete. We are usually able to let the client know right away where we can “pre-qualify” them for a Now Account.
Our “pre-qualification is based off the clients SBFE score (Small Business Financial Exchange) Underwriting:
During the underwriting we are going to be looking for UCC’s filed on the client:
- Are they working with a Factor/MCA
- Do they have any loans?
- Do they have any outstanding state tax liens (Business/Personal)?
- Do they have any bankruptcies? (Business/Personal)
Financial Documents: We may request financial documents based off a few reasons. When documents are requested, they are as follows:
– Balance Sheet
- Profit and Loss Report
- AR Aging
- AP Aging