Long payment waiting periods and unpredictable payment timing can be a source of financial stress for subcontractors. Looking for a way to help its project partners, KAST Construction turned to Early Payment Program™ (EPP™).
A partnership between Textura® and financial services company Greensill Capital, EPP provides third-party funding to facilitate significantly faster payments – as soon as a few days after a subcontractor’s invoice is approved. The earlier and more predictable payments can improve cash flow and working capital management for subcontractors. This can bring a reduction in financial strain and stronger balance sheets, reducing risk for the subcontractor as well as other project stakeholders. Launched in 2015, EPP is the first broadly available supply chain finance program designed to address the construction industry’s unique financial challenges.
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