Case Study:
Creative Construction
Creative Construction, a woman-owned general contractor, was looking for an injection of cash flow to help maintain their business. Learn how Raistone helped them take on bigger jobs and grow their business through an Accounts Receivable Finance facility.
Learn how Creative Construction took on 50% more projects and grew their revenue 2x after working with Raistone.
In late 2022, Creative Construction & Facilities Corp., a licensed general contractor that specializes in commercial facilities service, repair, and remodeling, was looking for an injection of cash flow to help maintain their business. Covid-19 halted their momentum, which hampered the transition from small to larger projects to help keep their business afloat.
At the time, one of the major challenges that Creative Construction faced was a high days-sales-outstanding — payment terms of 60+ days — with one of their biggest buyers, which impacted their ability to operate efficiently and grow their business. This capital constraint hindered their ability to take on larger projects. Creative Construction had previously partnered with a small working capital financing company to help, but the boost to their balance sheet wasn’t enough to meet their working capital needs.
“After Covid, we lost a lot of our momentum,” said Sharon Cantrell, the CEO of Creative Construction. “We had a small financing program through another company, but their limits were fairly small it didn’t provide the relief we needed.”
Key benefits of working with Raistone:
Non-debt working capital: Our solution is not debt to Creative Construction. It simply accelerates payment on an asset, which coexists and complements other early pay or lending facilities.
A world-leading fintech: Raistone is owned by a full-service broker dealer, a $30 billion family office, a $900 billion wealth manager, and an international bank.
Increased working capital: Creative construction now has a $500K Accounts Receivable Finance facility. The facility can scale up in size as Creative Construction continues to grow.
Business growth: Since partnering with Raistone, Creative Construction has seen their projects increase by more than 50% and they have doubled their revenue in the last year.
That’s when Raistone stepped in. Raistone provided Creative Construction an opportunity to leverage their unpaid invoices and receive a $500K accounts receivable funding (ARF) facility. This enabled Creative Construction to start taking on larger jobs that would grow their business — achieving even faster growth than anticipated.
“Bare minimum, when we partnered with Raistone, what we were looking for was just to be more comfortable in making payroll, paying vendors, buying parts, and to just take on a little bit bigger of jobs than we were doing at the time,” Cantrell said. “However, it has turned into so much more than that. The Raistone piece, and the cash it has provided, has allowed us to take on more and more of these jobs, expand with other companies, and to get contracts that we didn’t even foresee would be possible. And it just keeps on increasing.”
Since their partnership with Raistone, Creative Construction has not only been able to take on these bigger jobs, but they have also seen their business grow mightily. In just the last few months, Creative Construction has seen their projects increase by more than 50% and they have doubled their revenue in the last year.
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