Yes! This isย a recent example of a new client that is a builder.
We had been assisting a concreter and framer with our invoice finance service as their builder client paid them between 30-45 days.ย ย I asked these clients if I could speak to their builder about a different and possibly more cost effective way that they could be paid.
They setup a meeting with the builder and as it turned out, they had other subbies that often would request early payment from their accounts payable person.ย ย They went ahead quite quickly with setting up a supply chain finance facility to offer the concreter and framer early payment and not long after they also setup another 5 subbies on the same arrangement.ย ย In our first two months we have added around $14,000 to the builders bottom line through the rebates they earned from the subbies early payment fees.
Subbies are also happy that they can manage their cashflow better as well.