Funding Your Commercial Contracting Business With A Line Of Credit

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Commercial contractors are the “unsung heroes” of economic developments. You are the experts- we wouldn’t get to experience living in luxury, navigate cross country roads in our travels, enjoy our favorite restaurants, and create the lifestyle we dream of with our loved ones.

No matter what the project calls for, contractors are always in high demand.

Often, commercial construction contractors wait until after a project has started to pursue funding, but this approach can lead to serious consequences. The best strategy is to consider the cost and method of any needed capital during the bidding process of a job, NOT during the job.

The absolute best time to acquire capital for your contracting business is when you do not need it but anticipate areas where you will be deploying capital shortly down the road.

Despite sizable growth in the industry, commercial contractors are still considered high-risk for many lenders due to the uncertainty of project scope and timelines. Many contractors simply cannot qualify for traditional bank or SBA loans due to these factors and more. You may anticipate needing financing to cover project expenses, bond…