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 »
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… Read more »
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.
Securing a 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 bonding? Bonding is similar to an insurance policy, in that a surety bond company will cover the cost to fix any problems… Read more »
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… Read more »
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… Read more »
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… Read more »
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… Read more »
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.
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 vs. markup? When is the last… Read more »