Elevate the Industry- Interview With Jesse Weissburg

Billd

Published: March 18, 2021

Last updated: April 19, 2022

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Summary

When Billd CCO Jesse Weissburg joined Dave Procida on the Elevate The Industry podcast, the pair discussed something every subcontractor needs to know: how to grow your business without digging yourself into a financial hole.

As part of his take on “Construction Finance 101”, Jesse talks about how subs can use financing to create more leverage with suppliers, while maintaining their brand and improving their relationships with GCs at the same time. And, as something that goes without saying, relationships in construction are everything.

Our biggest takeaway is regarding material purchases: finding ways to increase purchasing power can help subs take on twice as many projects as they normally could if they were relying solely on supplier terms or with cash.

“There will be a cost associated with financing, but you’re going to make it up in your profit margin because you’ll have the ability to take on a larger number of projects.” – Jesse Weissburg

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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