Loan Types for Manufacturing Businesses

An empty manufacturing plant floor

In the decade following the Great Recession, many American manufacturing companies have struggled to secure loans or lines of credit from traditional banks. As a result, a host of new and different lending options have sprung up to help manufacturers looking to expand, better manage their cash flow, purchase new equipment and more.

How To Get a Manufacturing Business Loan

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Manufacturing is an essential part of the American economy, supporting 8.5% of the country’s workforce. Of the nearly 252,000 businesses that work in manufacturing, 75% of them have less than 20 employees, according to the National Association of Manufacturers. For many small businesses, it can be difficult to find a loan, whether through a bank,… Read more »

4 Signs You Need to Hire an Accountant For Your Commercial Construction Business

man using accounting software on a laptop

If your company has more than a few employees, your revenue is growing, and you are juggling multiple jobs, it’s probably time to hire your own accounting personnel, preferably a Certified Public Accountant. A good accountant often pays for themselves in a relatively short amount of time. After all, finances need to be current and… Read more »

What Do I Need To Apply For A Commercial Construction Loan?

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Securing a commercial construction loan can be an arduous process if you aren’t prepared for it. There are multiple options for businesses looking for commercial construction financing, including contract financing, factoring, merchant cash advance/daily debit and SBA loans, but there is no standard set of requirements for what you need in order to apply.

One Huge Mistake Contractors Can’t Afford To Make

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A common commercial construction billing mistake companies tend to make is to delay submitting an invoice or pay application for the work completed during slow months. Construction companies, in most situations, have work schedules that ebb and flow as their jobs progress. Busy and slow months are inevitable. Federal holidays and poor weather conditions often… Read more »

Why the Commercial Construction Industry Benefits from Alternatives to Traditional Lending

commercial construction workers installing solar panels

Commercial construction contractors are in an almost impossible situation. The economy is booming, and public and private organizations are looking to build new offices, hotels, skyscrapers and more. But to make all that happen, organizations — and the general contractors they hire — depend on thousands of subcontractors who are willing and able to do… Read more »

How a Financial Capability Letter Strengthens Your Government Contracting Bid

corroding metal

There are many factors behind landing a winning bid. For upper-level commercial construction projects — especially for those lucrative government contracts — you have to prove that your company can complete the work for a competitive price and that you have the means to carry it through start to finish. A Financial Capability Letter can… Read more »