Billd and American Express have teamed up to address payment challenges in construction by offering eligible commercial contractors of American Express merchants flexible working capital options through the Amex referral partnership.
Austin, Texas | December 3, 2024. Billd, a leading financial services provider for commercial contractors, is teaming up with American Express to help business-to-business (B2B) suppliers, who accept Amex, extend payment terms to their buyers. The collaboration enables contractors to preserve their existing cash flow and credit lines and allows suppliers to offer terms they are not able to support in-house. The move drives flexibility for contractors, reduces risk for suppliers, and solidifies strong working relationships across the purchasing ecosystem.
Contractors need to pay for labor and materials up front, which strains their working capital and limits their options for growth. According to the 2024 National Subcontractor Market Report, they wait an average of 57 days before being repaid. Consequently, the financial and working capital burden of the construction industry falls on the contractor.
The Billd and Amex collaboration aims to help address the challenging payment cycle by offering Billd’s proven material financing solution to eligible contractors that helps to reduce their working capital constraints and gives them the flexibility to focus instead on doing great work and taking on larger projects, the opportunity to win more bids with confidence and build towards their long-term growth plans.
“Working with Amex further delivers on our goal of providing purpose-built, industry-specific solutions that allow contractors the financial freedom to focus on doing the best work of their lives,” says Chris Doyle, CEO of Billd. “Billd is on a mission to change the $1.5 trillion industry1 status quo by creating solutions that ease the financial burden for contractors.”
