Posts by EmoryDay
Accounts Receivable Collections-Best Practices Part 2
Anderson & Catania Co-Founder, Richard Anderson, has another entertaining AR collection story from the front lines. You won’t want to miss this one! How important are credit and collections for contractors? AR collections are critical to keeping cash flow positive. So what can you do when you’re not getting paid, and your calls are not…
Read MoreWhat Suggestions Do You Have for Navigating the Current Supply Chain Bottlenecks?
Supply chain issues are getting complicated and intertwined, especially on projects with multiple primes. In Pennsylvania, for example, there can be up to four primes on a single project. Can one contractor with no supply chain issues be negatively impacted by a different contractor’s supply chain problems? The short answer is yes! But you can…
Read MoreWhat Risks Should Contractors Anticipate When Considering Solar Power Purchase Agreements?
Solar power purchase agreements can be lengthy and complicated. Contractors need to keep it simple, avoid undue risk, and focus on the construction component. An underwriter will review the entire solar power purchase agreement, but contractors need to keep it simple and focus on the construction component only. Don’t get caught up in the onerous…
Read MoreWhat Do Insurance Companies, Banks, and Surety Companies Have in Common?
Banking, insurance, and surety companies are all critically important relationships for construction companies. There are subtle differences in the relationships to be sure, but they are also closely interrelated. For example, a company’s bank line of credit can have a significant impact on its ability to get bonded. Working capital, bank LOC, operating income, and…
Read MoreCan You Get Bonded If Your Company Has A Negative Net Worth?
Over our 25 years in the surety business, we’ve met some excellent, successful contractors who thought they couldn’t get a surety bond because their company had a negative net worth. Nothing could be further from the truth. In fact, the SBA doesn’t even consider your company’s net worth when they look at bonding capacity. If…
Read MoreSurety Bond Pro Discusses Effective, Sure-Fire Accounts Receivable Management Strategy
Anyone who has ever had an ownership position in a business knows how stressful and challenging accounts receivable can be. Construction companies are uniquely aware of these challenges. Almost half of all new businesses will fail in the first five years of operation. And this is often caused by poor AR collection practices, especially in…
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