I am a loan broker who is trying to help a restoration company get back on its feet. It needs working capital because A/R payments are very slow. The owner loaded up on personal credit cards to provide working capital to his company. As a result, his credit score has tanked and banks are rejecting him. I believe we can get some relief if insurance companies will allow payments to the restoration company through a lockbox set up by the A/R factoring company.
If by insurance companies you do not mean sureties, then it would be unusual to say the least if GL, auto, WC/EL carriers were required or needed to be involved at all in that decision and its implementation. Some of our trade partners use factors from time to time, either at our request or the request of their sureties financial partners.