Chances are, you don’t like delays. Especially not when it comes to your projects.
When your project is delayed—even by just a little bit—you not only lose time, but you lose money too.
Unfortunately, project delays can be caused by a number of factors, like miscommunication between team members, improper planning and material shortages.
And a lot of the time, it’s due to insufficient funds. Like when one of your subcontractors hasn’t been managing their finances properly and ends up running out of money in the middle of a project.
That one subcontractor ends up delaying the entire project.
So what if you could avoid all those project delays due to insufficient funds? That would at least be one less thing to worry about, wouldn’t it?
We’ve got one way you can do that: by providing your subcontractors with Requisition Cash Advances, which are up to 50% cash advances on approved requisitions for labor or materials.
In case you’re curious, here’s how Requisition Cash Advances can help you avoid delays—and keep your projects rolling.
Payments Can Be Made on Time and Early
Due to improper cash flow, you’ve probably found that many of your subcontractors scramble to make their payments on time, which often results in hold-ups…and headaches for all involved.
With Requisition Cash Advances, your subcontractors are able to make all of their payments on time or early. So there are no more late payments…no more hold-ups…and no more headaches.
They Create a Healthy Cash Flow
Because your subcontractors can make their payments early, they are in a much better position to negotiate discounts with vendors. So instead of paying full price for the equipment or materials needed to get the job done, they might pay a discount price.
Vendors also tend to offer more favorable pricing to contractors who buy their equipment in bulk. When your subcontractors are short on funds, buying in bulk is obviously out of the question. But with Requisition Cash Advances, they are actually able to do that.
By negotiating discounts and more favorable pricing terms, your subcontractors are able to save the money not spent and put it towards future payments.
With Requisition Cash Advances from Cinium, they can also look forward to no upfront costs, no closing costs, no annual rate, no late-payment rate and 2-year financials aren’t required. Instead, we just deduct a small fee for each advance (once your subcontractor is paid by their project owner). In other words, your subcontractors can save more of their hard-earned money.
As a result, they are able to create a healthy cash flow cycle—and avoid future delays in payments.
Like most general contractors, you are probably eager to keep your project moving forward and avoid any bottlenecks or hold-ups.
When your subcontractors enroll with Cinium, they can request Requisition Cash Advances to help ensure that they make all of their payments on time and maintain a proper cash flow.
So your projects will continue to move forward and you can relax, knowing that your subcontractors can afford all the materials they need to get the job done.
And at the end of the day, that peace of mind sure counts for a lot.
Want to find out more about how Requisition Cash Advances can help you and your subcontractors? Schedule a free consultation or give us a call at 855.424.6486.