This week QC received a Payment & Performance Bond (P&P Bond) for the Herbalife HIM project in Winston-Salem, NC—a project with the potential to produce in excess of $1M in revenue for the company. As part of the bonding requirement, QC was obligated to obtain a $50,000 unsecured line of credit. The credit was to remain in effect for the duration of the job and be used exclusively for the Herbalife project. QC was able to secure the line of credit with BB&T within three weeks of being notified of the requirement.

QC specializes in medium to large industrial projects where bonding requirements are the standard. The company has never had issues obtaining P&P bonds for large projects or multiple, concurrent, smaller projects. QC’s credit is exceptional, and the principals of the company have personal credit ratings in the 98 percentile with all three government sanctioned credit bureaus.

In addition to the BB&T credit line, QC has over $100,000 of unsecured credit available to the company at any one time. QC manages credit very effectively so interest costs are minimized, thereby reducing overall operating costs. By keeping an intense focus on financial matters, the company is always in excellent position to take on new projects without being concerned with cash flow. QC has very favorable payment terms with its primary suppliers—Sherwin-Williams, Tnemec, PPG, Hertz Rentals, United Rentals, Sunbelt, and Ahern. This puts QC at a competitive advantage when bidding projects. Because of the financial responsibility it demonstrates, the company enjoys heavily discounted rates when purchasing services, equipment, and materials. These cost savings are passed on to the customer when bidding new projects or pricing change orders on existing projects.