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Billd Secures Patent for Project-Based Credit Evaluation Method

Published: September 21, 2023
Read time: 2 minutes

Austin, TexasSeptember 21st, 2023 – Billd, the leader in payments for commercial construction subcontractors, has successfully been issued a patent for their project-based credit evaluation method. This method determines credit offers for subcontractors by assessing the project on which the credit will be used.  

Billd was first to market by launching a suite of financial products to fix the broken repayment chain for subcontractors and to disrupt a $1.5T construction industry. Billd provides extended terms on materials as well as immediate advances on approved pay applications, helping thousands of subcontractors establish the liquidity they needed to deliver timely and successful work on their commercial projects. Billd securing a patent for this project-based credit evaluation method is a key milestone towards expanding and protecting their market impact. 

Historically, subcontractors have been underserved by financial institutions due to limited collateral and long payment timelines. By evaluating creditworthiness at the project as well as the business level, Billd can more accurately appraise risk and offer greater financial support. 

The patented method involves receiving project contract information electronically, analyzing project attributes, and using online data sources to verify and expand these details. The method then calculates a credit score for the project which determines a credit capacity. This method opens up purchasing power for subcontractors that meets their needs for procuring material on a commercial construction project.  

“At Billd, we believe subcontractors deserve financial solutions that align with their specific needs. This patent deepens our commitment to expand subcontractor access to financing and protects our intellectual property, verifying our first to market technology.” said Chris Doyle, CEO of Billd. 

The machine learning component of the method enhances its speed, efficiency, and repeatability, and eliminates the manual effort that project assessments would have typically required. The method can also learn from past projects to become better at determining potential risks associated with working capital for a specific project. It continuously updates its understanding based on new information and adapts its recommendations accordingly using artificial intelligence powered learning.  

This issuance has further solidified Billd’s growing portfolio of intellectual property through patents and trade secrets. The company was represented by Polsinelli Law Firm and will leverage its patent portfolio for protection of its intellectual property, and for the expansion of its innovative, first-to-market payment and financing solutions. 

For media inquiries, please contact:

Anath DiPillo, Senior Director of Marketing

About Billd: Billd stands alone as a partner that truly champions the subcontractor. Founders Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance, witnessed the detrimental impact to subcontractors of the longstanding broken payment cycle in construction. Their time in the trades inspired them to launch Billd in 2018, bringing the financial power of Wall Street to the construction job site. Billd's financial and payment products empower subcontractors to bypass project hurdles by providing access to upfront funds to cover their most pressing costs, including materials and labor. Unlike traditional financing outlets, Billd provides flexible lines of credit to accommodate the unpredictability of cash flow in construction, and extends their customers up to 120-day terms to align with industry payment standards. Billd knows traditional credit metrics are poor predictors for risk and has built a variety of industry-specific, proprietary analytic and financing tools to allow subcontractors to stabilize cash flow and more effectively grow their businesses.

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