Margin vs. Markup: What You Need to Know When Bidding on Commercial Construction Projects
How does your business calculate the right bid for a job? Do you sort out the job cost and then increase it by a third? Do you use the “10 and 10” method, adding a 10 percent overhead and 10 percent profit? Are you able to differentiate between margin and markup? When is the last […]
When is it Time to Get Funding for Your Construction Project?
Few commercial contractors have the luxury of paying the full up-front cost of a project without help along the way. But often, they wait too long to seek that additional funding, which can put unneeded stress on the project itself or even the business overall. Due in part to the Great Recession a decade ago, […]
Simple Steps to Prevent Your Construction Business from Being Hacked
If you own a construction company, you might feel pretty safe from hackers. Your company may not have a website, physical office location or a big staff. But unless you operate on a paper-only basis, you could be susceptible to hackers who want to exploit information and steal dollars from you, your company, employees, and […]
Insurance Policy Tips For Commercial Construction Businesses
The world of insurance can be confusing, especially for commercial construction business owners who need coverage for their commercial contracting companies. The challenge is buying the right insurance so that your company is adequately protected and still within its operating budget. Insurance expert, Beckie Ervin of Ervin Insurance Concepts, recently spoke with Mobilization Funding to […]
What is Commercial Construction Contract Financing?
Commercial construction contract financing is a way for contractors and subcontractors to borrow dollars they need for the early stages of a particular job by using the value of their contract as collateral for the loan. Mobilization Funding, sometimes referred to as Mobilization Financing, is a commercial construction contract financing option for subcontractors who are […]
Projects We Love: Tampa International Airport Expansion
Tampa International Airport (TIA) is nearly finished with the first phase of its roughly $2.3 billion expansion. The first phase has included the construction of one of the largest car rental facilities in the country (2.6 million square feet), and a 1.4 mile people mover track, plus renovations to each of the four existing airsides […]
How to Make Your Construction Company More Bondable
Securing a surety bond can be a major hurdle for commercial construction companies looking to land bigger projects and grow their businesses. This is especially true if bidding on a government contract. What is a surety bond? Bonding is similar to an insurance policy, in that a surety bond company will cover the cost to […]
How to Get an SS-4 Form and Why We Request It
Most lending partners ask for verifying paperwork during the approval process, including copies of driver licenses, Articles of Incorporation, and an SS-4 form notice. The SS-4 form notice, also known as an EIN Confirmation Letter, verifies your Employer Identification Number (EIN). Why do we need to verify your EIN? An erroneous or invalid EIN can […]
Projects We Love: Independence Hall Visitor Center
The front door of one of the most historical sites in the country is undergoing a major renovation. The Independence Visitor Center, in Philadelphia, welcomes millions of people from around the country and around the world who want to see where the Declaration of Independence and the United States Constitution were signed.
Projects We Love: Hurricane Harvey Cleanup
The devastation caused when Hurricane Harvey hit the Gulf Coast on August 25 was staggering. More than one million people were displaced and roughly 200,000 homes were damaged in a 300-mile span. The cleanup and recovery will be a long one for the region, but within a few months, contractors working for the Texas Department […]