For most construction businesses, the beginning of the winter marks the end of their working season – especially for those in the colder northern regions. While some make enough profit during the busy construction months to outlast the winter, the majority of contractors need to keep busy in order to keep their cash flow fromRead More
“There’s been a real problem for women entrepreneurs who need financing in the US for some time now,” says Tonya Mullins, a general contractor in Massachusetts. “Personally, I’ve been seeking funds to get the equipment and workers needed to take on bigger projects for years, but lenders have never taken my plans for growth as seriouslyRead More
Do you need a new backhoe or backhoe loader, but don’t know where to start? Check out this pricing guide for renting vs. purchasing backhoes categorized by size and type. Then, we’ll dig deeper to help you decide whether purchasing or renting a new or used excavator be the most cost-effective method of financing forRead More
With the construction industry predicted to face a giant surge in business during the 2018 spring and summer months, it’s no wonder why increasing numbers of contractors across the country are seeking commercial construction loans. However, traditional lenders have made it notoriously difficult to obtain construction financing for those with bad credit. Banks in particular haveRead More
The use of drones in construction is on the rise, due new software made specifically to help construction companies and contractors complete projects faster, and with greater accuracy. Contractors and construction companies who use drones are saving an enormous amount of time and money, and completing more projects faster as a result. But is theRead More
In every business contingencies occur. That is when working capital reserves are drawn upon to cover unexpected expenses. The amount of cash flow that is set aside for these emergencies may not always be sufficient to cover the requirement for additional working capital.
When seeking construction financing for such a large capital investment, the objective is to borrow sufficient financing to bridge the time between making payments and obtaining revenues. No construction project, especially those that are large in scale, can proceed without adequate financing. The construction firm that oversees the project throughout its building cycle will haveRead More