At Payost we primarily work with:
Storm Restoration Companies
Storm restoration companies play a vital early role in the process of recovery from storms and natural disasters. They’re among the first on the scene and work tireless to restore power in the event of a hurricane, flood, blizzard, earthquake or other act of nature. Without them, communities would struggle mightily to regain their footing in the aftermath of such events. But storm restoration companies don’t just swoop in, hang some power lines and leave with buckets of cash. They perform their important work and then they wait. Sometimes 3-4 months before they see a dime for their efforts.
Our goal at Payost is to help these crucial components of our social fabric meet the financial demands of their business while they wait for utility companies to process their invoices. We know how important it is for these companies to have a dependable workforce and reliable equipment at the ready at all times. And we understand how difficult that can be and how easy it is to lose valuable human assets to the competition because they got tired of waiting for payment.
Most of the linemen that show up to restore power in the event of a natural disaster like Hurricane Michael are subcontractors working for larger storm restoration companies. These different entities typically travel together and work as a team. At the end of the job, the GC bills the utility for their services and then collects a small commission for each worker under their management. However, since subcontractors don’t often have the resources of the general contractors they partner with, that 3 or 4 month wait to get paid tends to hit them harder.
But it doesn’t have to be that way. If you are subcontracting for a company that bills a utility or other AAA credit rated company for your services, Payost can help. We can provide you the money you need to pay your bills, take care of your family and keep your equipment in tip-top shape, so that you’re ready when the call comes again. And if you need money to grow your business, we can help in that regard too.
Anyone Who Fits Our Model
While we primarily work with contractors and subcontractors who provide storm restoration services, we can help any company that fits our model. If you…
- Do work for a utility and have your work signed off for
- Have outstanding invoices with a utility or other AAA credit rated company
- Are a subcontractor whose work a GC billed a AAA credit rated company for
- Have invoices that clearly state the payments due you by the utility or the GC
Payost can get you the money you need to meet your current obligations and position you for future growth.
The Bottom Line
Payost is a one-of-a-kind opportunity for the right businesses. In a nutshell, if you perform work for a AAA credit rated company, or you are a subcontractor for someone who does the same, we can help bring order to your company cash flow. This way even if your GC is playing the 90 day waiting game, you don’t need to be left in the lurch.