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Construction Companies: How to Avoid Disruptions to your Construction Business from the Ongoing Banking Crisis

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NEW YORK, March 15, 2023 /PRNewswire/ — Constrafor, a leading construction software and financial services company, announced immediate relief and a plan of action for construction firms following the recent collapses of Silicon Valley Bank in California and Signature Bank in New York.

To mitigate the impact of the banking crisis, Constrafor is making its Early Pay Program (EPP) free for 30 days. 

To help mitigate the impact of the ongoing banking crisis for contractors, Constrafor announced its Early Pay Program (EPP) will be free of charge for the first 30 days. With EPP, contractors can find financial relief when they apply for advanced payment on their approved invoices. General contractors can also leverage Constrafor for implementing an early payment program for their trade partners at no cost to the general contractor.

For most construction firms, preparing for a financial banking industry collapse is an unexpected and daunting task. However, taking the time to plan proactively can unequivocally protect your business and safeguard the livelihoods of your employees. To avoid the impact of recent events similar to the Silicon Valley Bank and Signature Bank collapse, contractors can follow these 8 critical steps to safeguard their business:

Cash is King – Build up your cash reservesBe Cautious with Local and Regional BanksDiversify Your Financing SourcesPosition Your Company for Liquidity on Short NoticeSecure Financial Partners Who Understand ConstructionPositioning Your Company For Optimal FinancingConsider Partnering with ConstraforTry Constrafor’s Early Pay Program (EPP) – no fees for 30 days during this ongoing banking crisis

To learn how to prepare your construction business for a financial crisis, visit this link: https://hubs.ly/Q01GTk8k0

Learn about Constrafor’s Early Pay Program, visit this link: https://hubs.ly/Q01H03140
Learn about GC Early Pay for General Contractors: https://hubs.ly/Q01GVCfJ0

“We understand the challenges construction firms face when preparing for financial crises. That’s why we’ve designed our Early Pay Program to help contractors access their cash faster and safeguard their businesses against potential financial shocks. By partnering with Constrafor, construction firms can diversify and reduce their reliance on traditional financing partners to position themselves for greater financial stability. We believe in taking a proactive approach to risk management and are committed to helping our clients prepare for the financial storm that may come their way,” says Anwar Ghauche, CEO of Constrafor.

About Constrafor

Constrafor is a fintech company that specializes in providing innovative financial solutions to construction and engineering companies. Their unique approach to addressing the financial needs of the industry has helped them to quickly gain traction and establish themselves as a leader in the space.


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SOURCE Constrafor

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Oberon Securities Advises Keens Steakhouse in Sale Transaction

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2 hours ago

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November 23, 2024

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Oberon Securities acted as exclusive advisor to Keens Steakhouse in the sale transaction.

NEW YORK, Nov. 23, 2024 /PRNewswire-PRWeb/ — Oberon Securities, a New York-based middle market investment banking firm, acted as exclusive advisor to Keens Steakhouse in the sale transaction announced yesterday.

With more than 70 senior bankers serving businesses across the country and around the world, Oberon is one of the fastest growing New York City based middle-market investment banking firms. Its clients benefit from the market credibility associated with the firm’s longstanding relationships with many of the nation’s largest and most prestigious institutional investors. Oberon’s approach has generated numerous long-term, multi-transaction client engagements and attracted investment bankers who have spent their careers working with middle-market companies.

Media Contact

Steven Alschuler, Oberon Securities, 1 917-647-2151, steve@alschulerpr.com, https://oberonsecurities.com/

View original content to download multimedia:https://www.prweb.com/releases/oberon-securities-advises-keens-steakhouse-in-sale-transaction-302314708.html

SOURCE Oberon Securities; Oberon Securities

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Specified Technologies Inc. Unveils Firestop Clash Management and Locator Updates

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5 hours ago

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November 23, 2024

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SOMERVILLE, N.J., Nov. 23, 2024 /PRNewswire/ — Specified Technologies Inc. has announced their latest Firestop Clash Management (FCM) and Firestop Locator (FSL) releases. FCM automates the process of locating and assigning firestop solutions to conditions within Autodesk® Revit®, enabling firestop novices to find firestop solutions like a firestop expert. In this latest release, STI has further expanded the capabilities of FCM by integrating it with their firestop documentation and compliance tool, Firestop Locator (FSL). FSL enables contractors and facilities’ teams to document the status, location, and products used for any and all fire life safety services across a building.

In the latest update for FSL, teams can now create custom items to track any service on their project beyond the base six (Penetration, Joint, Extinguisher, Door, Damper, and Barrier). Teams can also modify the base six items to include project specific inspection and maintenance requirements and any other details that they would like to be tracked.

With this new integration, decisions made during the design phase of a building using FCM are seamlessly passed into FSL during the construction phase, giving implementation teams a jump start on work to be done. This integration also improves data integrity and eliminates the guesswork in the field of determining what firestop systems and products are to be used where.

“We’re proud of the latest releases of FCM and FSL and look forward to continuing to support the fire life safety community,” says Justin Pine, Sr. Manager of Software & Services.

Specified Technologies Inc. promotes life and building safety by developing innovative fire protection systems and accompanying digital tools that help stop the spread of fire, smoke, and hot gases. Our SpecSeal® and EZ Path® product lines are engineered for easy installation and deliver powerful performance, often resulting in lower installed costs. Since firestopping is our only business, we concentrate all our resources on providing the highest quality, fully tested, innovative firestopping solutions.

Contact: Jess Bern; jbern@stifirestop.com

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SOURCE Specified Technologies, Inc.

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ZICC: Internet Experts Pay Attention to the Development of Artificial Intelligence

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6 hours ago

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November 23, 2024

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BEIJING, Nov. 23, 2024 /CNW/ — During the Wuzhen Summit of the World Internet Conference, ZICC interviewed Internet experts from all over the world.

Lampros Sterg, UNESCO Chair in AI & Data Science, said that AI can accelerate social progress, but it needs to be used properly to avoid its negative effects in order to benefit citizens and society. Latif Ladid, the president of the IPv6 Forum, called for the establishment of a global governance system to allow artificial intelligence technology to serve humanity for good. South Korean computer scientist Kilnam Chon shared insights on AI’s positive role in healthcare. He urged global efforts to ensure AI safety and prevent its misuse in weapons. Indian entrepreneur Bibin Babu said he believes that AI will not replace humans, but will create more new jobs.

View original content to download multimedia:https://www.prnewswire.com/news-releases/zicc-internet-experts-pay-attention-to-the-development-of-artificial-intelligence-302314745.html

SOURCE ZICC

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