There was a time when lenders avoided certain types of receivables such as progress and percentage of completion billings. However in today’s world this no longer seems to be the case, we frequently see revolving lines of credit that are secured by these types of receivables when performing field exams.
Before you get into the mundane details of the post below take a minute to check out the Disney video, its pretty neat to see history being made. I’m sure there was a lot of percentage of completion and progress billings taking place during this project! About three minutes into the video, a time lapse video of Main street being built is shown. Continue reading