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Built with Billd: Breaking down the 2021 National Subcontractor Market Report

Published: August 09, 2021
Last updated: June 06, 2022
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The inaugural National Subcontractor Market Report examined general outlooks toward business growth & financing in the construction industry. This report was founded upon a survey conducted in March 2021, which queried contractors on their business growth goals, sources of capital they’re using to stimulate growth, and the role of supplier terms play in their overall financing decisions.

Billd’s Cofounder and CCO Jesse Weissburg and VP of Marketing Jon Katz joined this episode of the Built with Billd podcast to break down their key takeaways of the report, including:

  • Optimism among contractors looking to grow their businesses, despite mounting economic challenges
  • The methods contractors plan to use to grow their businesses
  • How contractors are using supplier terms – and how they should be using them

One thing to note: despite the optimism contractors share about growing their businesses, contractors are finding it difficult to get the appropriate financing in place to actually accomplish this growth. This leads to a necessity to examine all options when it comes to acquiring capital and increasing financial flexibility.

Capital is pretty readily available right now outside of construction. But, as we all know, banks and investors aren’t necessarily bullish as it relates to lending to subcontractors. So subs have to get creative as it relates to their supplier terms, using cash, and alternative financing mechanisms.” – Jesse Weissburg, Cofounder & CCO, Billd

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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