PayPod Podcast: Scott Hawksworth and Chris Doyle, CEO of Billd

Billd

Published: January 08, 2021

Last updated: April 19, 2022

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Summary

Most of the podcast appearances by Billd CEO Chris Doyle take deep dives into the construction industry and how Billd fits. This time, when Chris joined Scott Hawksworth on the PayPod podcast, he zoomed out. The two shared a discussion on construction finance 101 – what it is, why it’s used, and who benefits the most from it.

The discussion ranges from why Billd was created to Chris’s thoughts on the future of tech in construction. And – spoiler alert – that future really isn’t so far off. In discussing the existing and emerging technologies that aim to help the construction industry, we learn about why Billd offers some planning tools for free, such as our payment estimator and our contractor cash flow estimator.

“The most important thing is we want to allow our contractors to fully understand the product and how it’s used… it allows the contractor to bid with a lot more confidence.” – 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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