A well-established electrical subcontractor in the Southeast was on track for significant growth, taking on incremental projects from General Contractors when their headcount was too thin or busy. With a strong trajectory and revenues exceeding $15 million in 2023, the company projected reaching $23 million in 2024. However, to meet demand, they needed capital to purchase critical equipment and hire additional staff ahead of key projects in the first half of the year.
Vision
The company aimed to scale operations efficiently by securing the necessary equipment and hiring skilled foremen to support an expanding workload. With a projected 50% increase in Q1 sales, the ability to act quickly was crucial to keeping up with demand and maintaining strong relationships with General Contractors.
Opportunity
A robust pipeline of upcoming projects positioned the company for substantial growth. By investing in upgraded equipment and additional personnel, the company had the potential to increase sales by 60% in Q1 and Q2 of 2025. However, without immediate access to capital, these opportunities could be delayed or lost to competitors.
Challenge
Limited Access to Financing
Their existing senior facility was fully utilized, preventing them from securing the $750,000 needed for new equipment and hiring.
Urgency
A $500,000 equipment purchase had to be made within two weeks to ensure timely delivery for Q1 projects. No traditional lender could meet this deadline.
Growth Potential at Risk
The company forecasted a 50% increase in Q1 sales but required immediate capital to seize this opportunity.
How Fora Financial Helped
Fora Financial provided a fast, flexible funding solution tailored to the company's needs. Within 24 hours of receiving the application, Fora Financial presented multiple financing options — 10, 12, and 15-month terms — allowing the business to select the structure that best aligned with their growth plans. The approved $775,000 funding, free of restrictive covenants and warrants, enabled the company to purchase equipment on time and hire additional staff without financial strain. The entire funding process was completed in just one week, ensuring that the company remained on track for their upcoming projects.
Results
On-Time Equipment Purchase
The company secured the necessary equipment within their two-week deadline.
Expanded Workforce
Additional foremen were hired, ensuring project efficiency.
Revenue Growth
With financial barriers removed, the company now projects a 60% increase in Q1 and Q2 2025 sales.
Conclusion
Fora Financial's quick and adaptable funding solution enabled this electrical subcontractor to capitalize on growth opportunities, secure necessary equipment, and hire the right talent—ensuring continued success in a competitive industry. With a strong start to 2025, the company is well-positioned for long-term expansion. If your business needs fast, flexible financing to support growth, Fora Financial is ready to help.
Why Fora Financial
The construction company chose Fora Financial for several reasons:
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Speed
Approved and funded within one week, meeting urgent project deadlines.
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Flexibility
No restrictive covenants; funds could be used for multiple business needs.
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Tailored Options
Custom financing structures allowed the company to choose the best fit for their growth strategy.