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Fintech Impact Podcast: Jason Pereira and Chris Doyle, CEO of Billd

Published: January 05, 2021
Last updated: November 04, 2022
Read time: < 1

 

Summary

Billd CEO Chris Doyle joined Jason Pereira on the Fintech Impact podcast to talk about Billd’s growth as a company. The two also shed light on the problems that Billd aims to solve, and how the company is doing so.

In discussing everything from the rising technologies in the construction industry to what has surprised Chris the most about building this business, the conversation holds nothing back. Can you guess what Chris identifies as the biggest internal issue at Billd? It’s the taste in music around the office – that surprised us too!

But, as you’ll hear, Billd was founded in order to solve a problem that plagues the entire construction industry: the misalignment of the construction payment cycle – specifically the negative impact it has on contractors who get paid late despite fulfilling all of their obligations. It is this issue that drove the creation of Billd, and that continues to drive us forward.

“It made me realize how broken this system is, and how – in construction – contractors rely so much on those upfront payments. And oftentimes, it’s a limiter to growth and even starting the business altogether.” Chris Doyle

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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