Access to the internet today is so ubiquitous few people pause to think about how it got that way. Advanced, heavy-duty fiber optics cables, installed underground, have made it possible for people to check their favorite website or update their social media status from just about every place. But because these fiber optic cables rest out of sight, unlike telephone wires and poles, most people don’t think about them. Yet the fiber optic cable installation business is a $4.3 billion business and growing.
Get cash for big installation jobs through factoring
Fiber optic cable workers, usually on contract with the cable companies, must install and then maintain these cable lines. This can prove a challenging and costly task, particularly in aging and densely populated cities where old structures must be torn up to install new cables or repair broken ones. Such jobs can be big business for the cable installation company, yet having sufficient cash upfront can be a problem.
Speed up slow payments by factoring receivables
Telecom financing in the form of factoring receivables from an invoice factoring company can provide fast cash for a busy fiber optics cable installation company. The cable company more than likely serves as an ideal client for factoring services because it probably has a good credit score with a history of paying its bills on time. The problem is, “on-time” for the typical cable company might mean 30-day, 45-day or maybe even 60-days, too long for many cable installation companies to wait.
Telecom factoring can help you get cash quickly to cover all the costs of a large fiber optics cable installation or repair, including payroll, equipment costs, construction expenses and even material costs. By having access to cash via factoring, such installation companies can bid on contracts big and small with the confidence it has enough cash to complete the job.
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