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Built with Billd: The key to reducing risk on every construction project

Published: December 13, 2021
Last updated: April 19, 2022
Read time: < 1

The construction industry is risky for subcontractors. Project execution falls squarely on their shoulders and a lot of things are out of their control. Subs have no control over the lack of labor availability, rising material prices, and supply chain delays. On this week’s episode of Built with Billdwe sat down with Greg Fry, VP of Marketing at Esub, to talk about what subcontractors need to be doing in order to reduce their risk across construction projects.

From our conversation, one way that subcontractors can do that is by establishing repeatable processes that are consistent across every project. Keeping your processes consistent allows you to reduce the risk of the unknown and ultimately leads to improved margins and faster business growth.

“If you don’t have a single system of recording data and you’re collecting information from multiple different softwares – the risk of losing data is exponentially higher. You need to have all your field data in a single, easy to digest place.” – Greg Fry, VP of Marketing, Esub

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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