Jesse Weissburg, Billd’s CCO, joined Eric Anderton on Eric’s Construction Genius podcast to discuss how contractors can leverage financing to grow their businesses. The discussion focused largely on how contractors can improve their cash flow and, as a result, grow their businesses.
Listeners should be prepared to learn a lot about financing in the construction industry, including: why financing incorrectly has a negative stigma in construction; when contractors should leverage financing even when they can pay in cash; how GCs benefit when subcontractors utilize financing; and much more. Perhaps the most important takeaway from the discussion is that contractors need to have a complete understanding of their financing options if they hope to maximize their benefit from them.
This is especially important because, as Jesse puts it, the financing options that have been available to contractors simply weren’t ever designed for them:
“There’s friction related to financing and subs and GCs because they’re forced to use financial products that aren’t designed for them. And that’s really how we’ve created our product: to support the construction payment cycle.” – Jesse Weissburg