It’s not uncommon for commercial landscaping businesses to face cash flow crunches. Government buildings, retail centers, office parks, and apartment complexes offer large revenue opportunities, but the longer payment terms that accompany these contracts can put a severe strain on a business. 30, 45, and 60 day payers can restrict a business’s cash flow and its ability to make payroll, buy materials, and sustain operations.
In order to bridge the gap, a small but rapidly growing landscape business turned to invoice factoring. The decision to utilize factoring was a smart one, helping the business accelerate cash flow, take on new contracts, and grow rapidly. However, as they grew, their current factoring company was unable to keep up. Looking to save money and find a financier that could meet their increasing capital requirements, the landscape business made the move to The Southern Bank’s altLINE program.