For builders, running their business and maintaining project schedules simultaneously can be exceptionally difficult to achieve. Before groundbreaking for any housing or construction project takes place, contractor financing must be arranged.
Contractors need certainty on when they will receive their financing, this way they can integrate the infusion of working capital into their project schedule.
Receiving working capital must also blend with project timeline requirements, subcontractor scheduling, materials procurement, and numerous other factors.
With such demands, it is highly important to be well-capitalized in order to anticipate and prepare for contingencies brought on by weather, materials shortages, and other delays.
One of the best ways to prepare for the unforeseen is to have quick access to additional working capital as required.
No well-run enterprise will keep large sums liquid, as it would not be cost-effective. To best prepare for any project or business issue that may arise, National Business Capital & Services recommends that builders establish a financial relationship with a trustworthy financing company.
Until recent years, banks were the prime lending sources for additional working capital. It was never a fast procedure, requiring extensive paperwork, significant documentation, and perfect credit. Reaching a decision could take weeks or longer and application fees were not refunded if denied.
Here is a different scenario: a builder establishes a business financing relationship with National. His Business Consultant has assisted him in the past to obtain contractor financing when new equipment was necessary.
The contractor reaches out to his Business Consultant again with the current financial requirement: additional capital to cover a new supplier’s request for full-payment in advance. The financing application takes the builder about two minutes to complete.
He will receive National’s financing decision in 24 hours or less. As before, his financing is approved. The builder learns the funds will be made available to him in a few days. His supplier will be paid and provide the building materials the subcontractors need to keep the project schedule timeline.
Whenever the builder needs financing, he can turn to National to get a quick decision on important deadlines. There are many contractor financing options that will keep his business solvent and projects on track.
Our goal is to help our client’s businesses succeed. Whatever your line of business, if you have financing questions, please give our expert team a call to review your options at (877) 482-3008.
Or, fill out our 60-second construction loan application online to get the funds you need as fast as 24 hours.
National Business Capital & Services is the #1 FinTech marketplace offering small business loans and services. Harnessing the power of smart technology and even smarter people, we’ve streamlined the approval process to secure over $1 billion in financing for small business owners to date.
Our expert Business Financing Advisors work within our 75+ Lender Marketplace in real time to give you easy access to the best low-interest SBA loans, short and long-term loans and business lines of credit, as well as a full suite of revenue-driving business services.
We strengthen local communities one small business loan at a time. For every deal we fund, we donate 10 meals to Feeding America!
Megan Capobianco is the Marketing Manager at National Business Capital & Services. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.