Case Study 5:
Clear Channel Outdoor Signs
A CAFI Electrical Subcontractor was invited by Clear Channel Outdoor Signs to bid on a one-year project to re-wire and replace LED Lighting on over 400 signs in the El Paso Area.
Our customer lacked the financial capacity to pursue this project because he did not have the ability to finance a $40,000 Boom Truck and did not have the capital to cover his weekly payroll needs for one year.
We met with the Southwest Regional President of Clear Channel and worked out an Assignment Agreement which directed all payments on this project directly to CAFI. We issued a letter of commitment to Clear Chanel to fund this project.
Fortunately, our customer was awarded this project and CAFI agreed to finance the $40,000 Boom Truck for a one-year period and provided weekly payroll by funding weekly progress invoices as they were approved for payment by Clear Channel.
Our customer successfully completed his project in one year and paid his Boom Truck off within the first six months.