Commercial construction contractors and subcontractors need cash flow before a project starts to secure equipment, buy insurance, secure payroll, and many other critical business expenses. Commercial Construction Financing is one option for contractors and subcontractors to borrow the funds they need.
You can learn more about commercial construction financing and Mobilization Funding by reading About Construction Loans.
Before you sign on the dotted line with a commercial construction financing partner, you should know exactly how much money you need, what it’s for, how the repayment schedule aligns (or doesn’t) with your expected receivable schedule, and whether or not you can build the cost of the loan into the total cost of the project.
Looking for more tips on commercial construction financial planning and project management?
Many commercial construction contractors wait until after a project has started to seek funding, but this approach can have serious consequences. The best strategy is to consider the cost and method of any needed capital during the bidding process of a job.
Contractors have to cover much of the cost of a job before the work begins, and there are several commercial construction financing options to choose from: a traditional bank loan, daily debit loans, a factoring company, or Mobilization Funding. Finding the right funding partner can help you cover those costs, increase your profits and bid on larger projects.