Pay-app in. GC pays out in 60.
Not anymore.
You submit AIA G702/G703 pay-app against the schedule of values, the GC sits on net-45 or net-60, and 10% walks out the door as retainage. Quaystonecloses the gap — buys the progress-billed invoice against the GC's credit, advances same-business-day cash net of retainage, and lets the GC pay when they pay.
- Pay-app priced on GC credit, not sub credit
- AIA G702/G703 cycle funded same-business-day
- Retainage handled separately, never lumped in
- Non-recourse default — GC default is not yours
- Face value (net)
- $243,200.00
- General contractor
- Tier-2 commercial GC
- Pay-app
- AIA G702 · Draw 04
- Retainage held
- 10% · released at close-out
Model CON-0834 · GC-credit · pay-app-to-cash: 58d → 0d
Four steps. From pay-app to funded same day.
The AIA G702/G703 pay-app you submit against the schedule of values is already an asset. We treat it that way — priced by the GC's credit, the project's bonded status, and the retainage terms, not by a small-business credit score.
- 01
Submit pay-app, lien waiver, MSA, and face invoice
Send your AIA G702/G703 pay-app against the progress schedule, the conditional lien waiver for the current draw, your signed subcontract or MSA, and the underlying scheduled-values line. We read the GC, the project, the schedule of values, and the retainage held.
- 02
Underwriting priced on GC credit, not your balance sheet
Our CON-0xxx model prices the receivable on the general contractor's payment history, the AIA cycle they're billed against, and the retainage terms — not a generic small-business credit grid.
- 03
Non-recourse default — the GC’s credit carries the loss
CONSTRUCTION books run non-recourse: the draw-cycle risk sits with the GC's credit, not your shop. We absorb owner default and back-charge risk so your books aren't exposed to a slow-pay GC.
- 04
Cash before the next materials run or paycheck
Same-business-day ACH once the pay-app clears verification. Subcontractor working capital is never on the GC billing calendar again.
Legacy factors price your credit score.
We price the GC.
Four documents. That's the full package.
Every construction pay-app submission needs the same four documents. Have them ready before you hit submit — we read them same day.
- Lien Waiver (conditional / unconditional)Clears the title for the current draw — conditional at submission, unconditional at payment
- Pay-app (AIA G702 / G703)The receivable itself — billed-to-date, retainage held, schedule of values line
- MSA / SubcontractConfirms GC obligation, pay terms, and back-charge scope
- Schedule of Values (SoV)Third-party proof of the line item billed — what was scheduled vs what was performed
Pennsylvania drywall sub. Tier-2 commercial GC. 58-day wait → same-day cash.
A Pennsylvania commercial drywall subcontractor was four draws into a 14-storey office build against a Tier-2 commercial GC. The G702 pay-app for draw 04 carried 10% retainage held back, signed lien waivers for the prior three draws, and a back-charges dispute on draw 02 flagged for adj. Quaystoneread the schedule of values, the GC's 11-month payment history, the conditional waiver for the current draw, and the project's bonded status — advanced net of retainage same-business-day ACH, and absorbed the GC-side back-charge risk on the non-recourse book. The sub pulled materials for draw 05 the next Monday.
GC paid net-58 net of retainage; materials and the next crew hung on the sub's line of credit. Quaystone absorbed the GC wait and wired same-day against draw 04.
Non-recourse · G702 verified · CON-0834 model
Answers subcontractors ask in week one.
These are the four questions that come up on every construction call. Everything else, send it over and we'll come back same-business-day.
Start an offerSend a pay-app. Get a price in hours.
No questionnaire, no portal sign-up. Send the pay-app, the lien waiver, and the MSA — we read them the same day and come back with advance rate, fee, retainage treatment, recourse option, and the wire date before your next materials delivery.