Contractor Funding
Fast, Easy Funding For Contractors
Whether you’re looking to bid on a new project, fill seasonal gaps, or expand your contractor business, companies of all sizes and specialties can benefit from contractor funding.
Getting the funding you need from a traditional lender like a bank can be difficult. The process may take weeks, and most loans are denied because contractor company funding is often considered “high risk” due to volatility of demand, fluctuations in cash flow, and thinner margins.
As an alternative to traditional funding our lenders approve more loans for contractor companies than traditional lenders, often in just one business day. We provide a number of different types of small business funding to help grow your contractor business, with alternative contractor loans from as low as $2,000 up to $2,0000,000. We get funding for all specialties, including remodelers and renovators, contractors, concrete, electricians, plumbers, HVAC technicians, landscapers, specialty tradespeople, and more.
How To Use Construction Company Funding
There are no restrictions on how you can use funding. Funding for contractor companies is typically best used for providing the cash flow you need to improve or expand your business. Use your funding to:
- Purchase or repair equipment to reduce your reliance on subcontractors
- Bid for bigger projects by upgrading equipment or hiring staff
- Improve technology, such as purchasing 3D printers or advanced scheduling systems
- Purchase materials to get a jump start on a new or upcoming project
- Invest in mentoring and training programs for new employees
- Maximize seasonal downtime to invest in marketing or new technologies
- Embrace new technologies like Building Information Modeling (BIM), telematics, virtual reality or augmented reality, robots and drones, 3D printing, connected devices, and autonomous vehicles
The funding can also provide the influx of working capital you need to meet the unique challenges of running your business, such as:
- Volatile or seasonal demand—fixed expenses still need to be paid during the off season and can put a strain on your business’s cash flow
- High cost of materials and equipment—raw materials and proper equipment are essential for pitching, starting, and completing jobs on time, but they require significant up-front investment
- High employee turnover and skilled worker shortages— construction workers are retiring faster than the younger generation can replace them
- Late receivables