A commercial construction firm specializing in municipal contracts needed $1.5 million to mobilize on several new projects under progress-billing arrangements. Traditional lenders could not move quickly enough to meet project start dates.
Vision
The firm aimed to execute more than $20 million in new municipal contracts, expanding its footprint and demonstrating its ability to manage complex, large-scale projects.
Opportunity
Launching projects on time would accelerate revenue recognition and strengthen the firm’s reputation with public-sector clients.
Challenge
Receivables Lag
Progress billing delayed payments until project milestones.
Upfront Costs
Mobilizing labor and materials required immediate capital.
Coordination Complexity
The firm’s senior lender needed to approve any junior debt placement.
How Fora Financial Helped
Fora Financial worked directly with the firm’s senior lender to issue $1.5 million in junior debt, ensuring the funds were deployed quickly without disrupting existing financial arrangements.
Results
On-Time Mobilization
Projects began as scheduled.
Revenue Activation
Over $20 million in contracts were executed successfully.
Smooth Coordination
Fora Financial ensured transparency and lender alignment throughout.
Conclusion
By acting swiftly and strategically, Fora Financial allowed this commercial construction firm to launch multimillion-dollar municipal projects without delay. Coordinating seamlessly with the company’s senior lender, Fora Financial played a crucial role in unlocking over $20M in potential revenue, proving to be a vital partner for progress-billed contractors.
Why Fora Financial
-
Speed and Collaboration
Fora Financial worked directly with the senior lender to accelerate funding.
-
Construction Expertise
Fora Financial’s familiarity with progress-billing structures allowed for a seamless fit.
-
Long-Term Partnership
The firm valued Fora Financial’s ability to coordinate complex deals efficiently.