UCS secures multi-million cash advance for West Coast construction company

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This is another example of how our market works. We have partnered with the best lenders and funders who can operate quickly and efficiently on multiple products offering the best rates and terms available.

United Capital Source helped secure a $9 million merchant cash advance for a West Coast construction company. The 32-year-old company will use the funds for a government contract it has been awarded to refurbish two schools in the city.

After receiving the construction contract award, the company approached UCS seeking a line subordinate to its current lender. UCS, an online marketplace, worked quickly with the company’s lender and the funder’s legal teams on the language needed in the subordination agreement. The total time to fund the advance was four and a half days.

UCS helped structure the exact deal required in the time frame needed so that the company could take advantage of the opportunity they had despite this unconventional financing. The construction company has received an immediate cash advance of $6 million, and an additional $3 million will become available in twenty days when the second part of their project begins. The merchant cash advance structure is an estimated 12-month offer that includes aggressive prepayment options of three to six months.

UCS Jared Weitz said of the deal, “This is another example of how our market works. We have partnered with the best lenders and funders who can operate quickly and efficiently on multiple products offering the best rates and terms available.

The loan structure is intended to serve as bridge financing, and that is exactly how the construction company will use it. UCS Vice President of Sales, Danielle Rivelli, managed the transaction from start to finish. Weitz said: “Danielle handled most of the deal, and she worked for 4 days straight helping the legal teams and going back and forth between all parties to get the deal to the line. arrival on time for customers.”

Danielle’s dedicated service and unique financing structure has highlighted UCS’s ability to find business financing options that are right for her clients. The construction company acquired the funds to take advantage of the government contract opportunity.

United Capital Source, Inc. is a lending marketplace designed to drive small business growth. Visit the UCS website to learn more about small business loan options available.

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