As an entrepreneur in the construction industry, you might find yourself juggling a backlog of accounts payable, a stack of past-due invoices from suppliers and new projects in your pipeline that require even more equipment and materials ASAP. Though suppliers typically offer 30-day terms, any contractor knows it often takes much longer than that to […]
When you’re a commercial contractor, the work doesn’t stop just because your cash flow has. You can’t press pause on purchasing construction materials or equipment for a new project while you wait for your backlog of unpaid invoices to come through.
Business credit cards are among the most common financing options for contractors to pay for everyday expenses. For good reason too. They’re easy to obtain, flexible, and practical. A contractor credit card is a type of revolving line of credit, usually with lower limits than other financing options. While this can serve as a valuable tool […]
If a contractor wants to grow their business and increase profit, they will likely require some form of financing to help stabilize their cash flow. Lines of credit are a common choice among the many different financing options for contractors and it’s critical to understand how they work, as well as the pros and cons..
It’s said that you have to spend money to make money, and in construction, that’s true. To take on larger projects and grow your construction business, you need to be able to pay for labor, materials, and overhead — many times, all upfront. And that’s exactly the challenge: Companies don’t always have the cash available […]
In the construction industry, credit isn’t just an option — it’s a key component for growing your business. To take on bigger, more competitive projects, you must have access to financing as well as relationships with lenders willing to offer it. By pursuing a line of credit or other forms of financing, you can get […]
Cash flow strain is a pervasive problem that nearly all contractors share, no matter how large or financially savvy they are. Thanks to erratic payment cycles in the construction industry, it’s not a question of “if” your business will experience tight cash flow, but “when.” Although this can create an obstacle to business growth for […]
If you don’t already know what Billd does, here’s the gist: Billd offers enhanced payment terms for commercial contractors by offering 120-day terms with any of their suppliers. But if you’re going to work with a company, shouldn’t you know a little more about it — like who’s behind the company name, what they value, […]