As a pipe inspection company, you’ve got the responsibility of ensuring that the country’s pipework is defect free, and that it’s not going to cause any damage or health issues. Starting or operating such a company can often be challenging, especially when you take into consideration the considerable costs of buying equipment, paying staff and generally ensuring that you’re operating within safety guidelines.
Finding staff with the right skills means high labor costs; some projects may only need one pipe inspector, while others may require a whole team of skilled professionals to ensure a safe and expert job. But what happens when you hit a financial problem, and you don’t have the cash flow or working capital to complete a job or pay your staff?
In the past, most pipe inspection companies would call their local bank and ask for a loan. However, in recent years, more and more small businesses are finding that they don’t meet the traditional funding companies’ stringent criteria, and therefore don’t qualify for any kind of assistance. This is where American Prudential Capital can help.
As one of the top ranked specialty commercial finance companies in the country, we’ve made it our aim to find alternative financing solutions for companies just like yours. We offer a variety of financing options that can boost your business finances in a fast and stress-free way. Rather than taking a one-fits-all kind of approach, we’ll tailor-make a financial solution to meet the needs of your specific business.
This solution might include the following:
Invoice factoring for Pipe Inspection companies
You’ve probably heard of invoice factoring, but never considered it as an answer to your current financial problems. If your business is in need of some quick cash to keep it running, then making use of your accounts receivables invoices is a viable and sensible option.
Rather than having all your cash tied up in future invoicing, you can release this cash by selling your invoices to a factoring company such as ours. As long as you have a 30-90 day credit limit on your invoices, and your customers have a good credit rating, we’ll buy your invoices from you, and give you a percentage of their value (usually between 60% and 80%) up front.
Not only will you have the cash you need to carry on your pipe inspection business, but doing things this way also takes away the hassle of having to chase your customers for payment, as we’ll do that for you.
The benefits of invoice factoring for your pipe inspection company
One of the major benefits of taking the invoice factoring option is that you’ll get the cash you need to continue your business within a matter of a few working days. Furthermore, it offers complete flexibility, as you can choose whether to sell all, or a selection of, your invoices.
Growth funding for pipe inspection companies
While some companies turn to alternative funding for help with working capital, others may have sufficient cash flow to keep their business afloat, but they don’t have enough to grow their company or invest in new technologies. In these instances, we can offer growth funding based on the same non-traditional criteria.
Contact us now to find out how you can get alternative funding for your pipe inspection company
If you’d like to learn more about pipe inspection company funding, please get in touch with us here at American Prudential Capital. We’ve got experience in helping pipe inspection companies grow their businesses, and we would love to help you become an industry leader.