the Funding Process for Construction Work?
1. Submit completed application with set up
fee of $250. Includes credit check(s), lien
searches and UCC- Filings.
2. Processing of application takes 2 to 3 business
3. When application is approved, contract along
with factoring agreements will be prepared for
4. When contractor is in need of funding, contractor
provides a copy of signed contract with general
or owner to include signed change orders, invoice
to be funded,a sworn statement of suppliers
and copy of their pre-lien filed on the project
to be funded.
5. CAFI proceeds to prepare a joint check agreement
for subcontractor and general contractor or
owner to sign.
6.When CAFI receives the signed joint check
agreement, it proceeds to prepare it's funding
document and verifies the invoice to be funded.
As soon as the funding document is signed by
its customer and the invoice is verified, CAFI
proceeds to fund the invoice via wire transfer
or the preparation of a check.
7. As soon as CAFI receives payment from the
account debtor, a settlement document is prepared
and settled within 24 hours via wire transfers.