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 »
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… 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 and markup? When is the last… Read more »
A natural disaster can put your whole life at risk. For business owners, there is even more to worry about and prepare for. A natural disaster like Hurricane Harvey in Houston, or the recent wildfires of California can lay ruin to your company.
Commercial construction bidding can be a stressful and frustrating process. It takes time, energy, and doesn’t always pan out in your favor. But, sitting out the race also means turning your back on tremendous growth opportunities. Here are some common mistakes contractors should avoid when bidding on new projects.
Construction projects are capital-intensive and, unlike the way in which many goods and services in the United States are bought or sold, the company undertaking the work — that is, the subcontractor — puts in a considerable amount of work before billing and months before receiving payment for its services. Due to the nature of… Read more »