FK Construction Funding is a cash management and funds control company that provides monitoring, compliance and risk mitigation services for owners, general contractors and qualifying subcontractors.

Do you have a question? Below, Frank Skelly answers some of the most common questions about our services and how it works.

Advanced Funding Program for Subcontrators

The FK Construction Funding Advanced Funding Program for Subcontractors was created to help relieve the growing cash flow challenges subcontractors face every day covering payroll and materials while waiting to be paid. Click this video for an overview of our Advanced Funding Program for Subcontractors. Afterwards, you can go through the FAQ videos below to find the answers to many of the most common questions.

Subcontractor FAQs

If you’re a minimum of $1 Million in sales, free of liens and your GC is credit worthy you meet the criteria.

Typically 5% of the Total projects along with avenues for discounts.

Turnaround time from first contact averages at 5 days but tops out at 10 days.

We assume all risk so no matter the situation you aren’t liable.

Turning your receivables into working capital within 24 hours by converting your customers to cash on demand accounts.

We eliminate the financial burden that inhibits growth, in turn strengthening relationships and improving credit ratings.

Our risk mitigation program is designed to limit subs exposure to one billing period eliminating the risk of chargeback or offset.

We fund on a daily basis facilitating project cash needs at every level.

Cash Management System Program Overview & FAQ’s

The FK Construction Funding Cash Management System (CMS) program involves advancing funds on approved construction projects against verified pay applications for completed work. Our relationship with your customer is largely based on your promise to identify all expenses related to each pay application and for FK Construction Funding to pay the identified expenses and secure the related waivers or proof of payment. As a result, paying all expenses associated with each pay application at the time of disbursement is an essential part of our program.

Will you pay all my Subs, Suppliers & Vendors (SSV’s) on a funded project?

Yes, one of the core fundamentals of our program is paying all the SSV’s related to each pay application at the time of funding so that we may secure the required lien waivers and proof of payment.

What about expenses such as payroll, withholding taxes & union dues?

Yes, any unpaid expense which relates back to the project must be paid with each disbursement including payroll, withholding taxes, union dues as well as workers comp and surety payments.

What if my SSV’s have not billed me yet?

It is not uncommon for SSV’s not to have completed their billing by the time you are ready to submit a pay requisition to your customer, but we are still required to determine the amount each SSV is owed and either pay them or escrow the funds until such time as they are ready to be paid.

What if I have payment terms with my SSV’s?

The credit lines you enjoy with your SSV’s will still be available for your use on non-financed projects however on financed projects it is required that we receive proof that all the SSV’s have been paid prior to funding.

Do I have to pay expenses related to projects I am not financing?

No, expenses related to unfunded projects can be paid by you in the normal course of business and you are free to utilize your credit terms on those projects as needed.

Payment Assurance Program for General Contractors

The FK Construction Funding Payment Assurance Program for General Contractors was specifically designed to help mitigate the risk of delays, work stoppages, lawsuits and mechanics liens resulting from underfunded subcontractors, unpaid suppliers and workers.

General Contractors FAQs

To stop worrying about subs making payroll and enjoy knowing that all your subs, suppliers and vendors are all paid properly.

Subs are in high demand, our service enables GC’s to stand out with an early pay option in turn you get to use the subs you want regardless of their credit standing.

Zero cost to the GC, the cost is passed down to SSV’s in exchange for early payment.

5 to 7 days once you put us in contact with your subcontractor.

It doesn’t! You continue to make normal payments with the added benefit of knowing your subs have paid all their ssv’s.

Three main ways: Make our service a stipulation in the contract with your sub, Add the early pay option to your contract, Put us directly in contact with your sub.

All funding is subject to your approval, and you retain all rights under the contract with your subcontractor.

We take over lien waiver management from subs, meaning GC’s are afforded proof everyone’s been paid correctly and on time.

There are a few options : Deduct from your subs next pay app, deduct from their retainage or use our 10 – 15% reserve built in to the pay app.

Do you have a question that wasn’t covered above? Get your answer now.

If you are interested in our services, please call (833) 352-3863 Option 1 or click the Get Started button.

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