855-424-2958

Construction Finance.

 

Construction Finance.

Construction Finance

 

Construction Finance is for general or subcontractors that do work on commercial or government projects and require working capital to fund the project. Construction Finance proceeds are typically used to pay for materials and cover labor costs while the company waits to be paid by the owner. Construction companies will usually use Construction Funding in order to take on multiple projects at one time.

 

The most common types of construction funding are:

  • Construction Factoring
  • Spot Factoring
  • Contract Finance
  • Small Business Loans
  • Equipment Leasing
 

The type of Construction Finance that is available to a company will largely depend on the nature of the contracts. Subcontractors that are submitting monthly progress payments to general contractors will typically use Construction Factoring or Spot Factoring. General Contractors that have won a government contract will use Contract Finance or Small Business Loans.

 

Construction Finance lenders pay close attention to the accounts payable aging as suppliers in the construction industry have lien rights for materials supplied. Construction Finance programs will sometimes require that some of the funding proceeds go to pay suppliers in exchange for lien releases. Finance companies will also want to make sure that labor and union dues are kept up to date.

 

While there are several forms of Construction Finance available, each has its positives and negatives. In many cases more than one form of financing can be used to generate capital. Choosing the right working capital facility with the right lender can make all the difference.

 

Call us now at 855-424-2958 to discuss your constrution finance options! Or fax us at (855) 450-0885‚Äč.

Customized Financing Options

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Asset Based Lending

Revolving lines of credit up to $20,000,000

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Accounts Receivable Factoring

No minimums, up to $20,000,000

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PO Financing

Secondary lines of credit for ABL or Factoring

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Term Loans

Equipment & inventory facilities

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Payroll Funding

Great for staffing & temp agencies

Contact Us.

 

Contact us today and tell us about your business.

 

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