Fibre installs, traffic management too
The business installs fibre around Auckland as a sub-contractor to the companies that hold the network contracts. It’s commercial work, invoiced to the contractor rather than to the household at the end of the line.
The business also invested in its own traffic management, so it doesn’t pay a third party for it.
The contractors pay on the 20th of the month, or the first Monday after it when the 20th falls on a weekend. One of them pays reliably. The other is less predictable.
Payday doesn’t wait for the 20th
The crews are paid fortnightly. Between one 20th and the next, more than one payday goes out before the contractor’s money lands, and the traffic management team is on the same wages run.
When they signed up in July 2024, the owner told the FundTap team the business pays its people fortnightly while its contractors pay on the 20th.
The owner also explained that one of the contractors was a good payer and the other less reliable.
Funding the first invoices
Their broker introduced them to FundTap. They signed up in July 2024, connected Xero, and funded two invoices that month, both to the contractors for installs the crews had finished.
The fee was shown before either invoice was funded. The contractors still pay the business on the 20th, as they would have anyway.
The crews paid on their fortnight
With those invoices funded, the fortnightly wages went out while the contractor’s 20th came round in its own time. The crews and the traffic management team stayed on the road, which is what the contracts need.
That was the only time they’ve needed it. The account has sat there without a fee since, ready for a payday that lands before the 20th does.
In a public review, the business said it had found FundTap through its broker and hadn’t known a service like it existed while it waited to be paid.
The timeline
- July 2024 Introduced by their broker and signed up, with crews paid fortnightly and contractors paying on the 20th.
- July 2024 Connected Xero, ready to pick an invoice.
- July 2024 Funded two invoices to the contractors, for installs the crews had finished.
In numbers
- 20th of the month: when the network contractors pay, or the first Monday after
- Fortnightly how the crews are paid, with more than one payday before the 20th
- 2 invoices funded in July 2024, both for finished installs invoiced to the contractors
Sound like your business?
Your crews are paid fortnightly and the contractor pays on the 20th. Fund the invoice that covers the payday in between.
Get paid now for work you’ve already done.
Invoice finance for construction and trades • All case studies
