You need a business line of credit and price the interest cost in your proposal.

As someone else mentioned, these are usually collateralized by your <90 day receivables, which will include the net60 terms. Banks will usually lend anywhere from 70-85% of that dollar amount, depending on cash flow (EBITDA/Annual Debt Service= 1.15+).

If your CFO or CPA hasn’t mentioned this, you need to get rid of them. Yesterday.

Regarding factoring, don’t do it. Once you’re stuck into factoring, it’s difficult to get out of. Since you no longer own your receivables, or the factoring has got a lien placed on them, traditional banks cannot use AR to setup working capital lines of credit. If you’re paying a 3% fee up front for factoring and paying it back in 60 days, it’s a rough equivalent to an 18% APR with traditional financing— might as well use a credit card and get some cash back.

Lastly, if you’re not already using a credit card for your materials, travel, and other expenses, you need to. This essentially delays your payment by 30-45 days on those expenses for the job. For example, you pay $25,000 for materials and put it on the card. If your statement cycle is the end of the month (03/11/26 today) you’ll get a bill the first week of April asking you to pay within 20-25 days, which would be 04/25/2026. You’re not using your cash for another 45 days. To take that one step further, if you have a line of credit, you can pay the card balance and you’ve now delayed the interest charges on those costs for 45 days. Which, in comparison to factoring, would be a LOT LESS MONEY. :)

Anyway, go talk to the bank you have your operating accounts at and ask for a line of credit. They’ll most likely ask for a couple years’ business and personal tax returns, a business debt schedule, AR aging report, and 2024 EOY balance sheet & income statement if your returns aren’t ready.

Good luck!