Construction Services - Derby, KS, US
I would like to introduce you to Premier Construction Services. Premier began in the early 90's as a framing subcontractor for commercial and residential projects. Throughout the years we have completed many projects from hotels, facilities, hospitals to multi-family and senior residents' facilities. One of the biggest challenges Subcontractors face is cash flow. In Construction, each Subcontractor (Sub) must complete the work required by the General Contractor (GC) Then invoice the GC for payment. This process requires the Subs to pay for equipment, labor, in some cases traveling expenses and materials. Depending on the GC's paying schedule, the GC then has around 30 days to pay the invoice for already completed work. So a few weeks in, the Sub is in the whole but won't receive payment for their completed work for around 30 days. Unfortunately, there is still more work to be done. The Sub then continues on the project, spending more money on labor, equipment, materials, and traveling expenses. I think you see where this is headed. Many Subcontractors cannot afford to last in this business because of the invoicing process.
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