If you’re like most contractors, then you want to grow your business.
And in order to grow your business, both your vendors and your team have to be paid on time.
But the reality is, that’s not always possible. Project owners might not pay you on time, your bills might pile up, and before you know it, you might find yourself in need of some cash in order to proceed with your project.
And that’s where Requisition Cash Advances come in.
What is a Requisition Cash Advance?
A Requisition Cash Advance is an advance on future payments for whatever project you are working on. It can provide an advance on funds of up to 50%, covering expenses like payroll, materials and equipment.
Keep in mind, however, that a Requisition Cash Advance only covers the funds that you would otherwise eventually receive from your project owner.
Save, Save, Save…And Save Some More
As you know, accrued interest or late fees are not exactly conducive to business growth. Luckily, at Cinium, we only charge a small transaction fee for each Requisition Cash Advance—with no interest or late fees. This means that you get to save more of your hard-earned money.
A Requisition Cash Advance can also allow you to open lines of credit with suppliers and take advantage of early payment discounts. Many vendors tend to offer more favorable terms and pricing to contractors who make equipment purchases in bulk or pay their vendors early.
How to Take Advantage of a Requisition Cash Advance
A common misconception is that you have to get bonded with Cinium in order to take advantage of a Requisition Cash Advance. But this is not the case. A Requisition Cash Advance is available to any contractor who is taking advantage of our Project Accounting Service, regardless of whether or not they have taken out a bond.
With Requisition Cash Advances, you will have the peace of mind knowing that your labor contractors will be paid on time and that you can afford all the materials you need to get the job done. And by lowering your project costs with vendor discounts, you can ensure that you are maximizing the return on your investment.
Plus, unlike other programs out there, there are no upfront costs, no closing costs, no annual rate, no late payment rate and two-year financials aren’t required.
So whether you are in a bind and need funds to move forward with your project…or you want to save money by negotiating vendor discounts, Cinium has got you covered.
Ready to grow your business with a Requisition Cash Advance?