2019 Small Business Failure Rate: Startup Statistics by Industry
You’ve probably heard the classic story about small business failure rates. Business can be moving along well one moment, and an epic business disaster could happen to anyone out of nowhere. While it’s true every business venture carries some level of risk, failure statistics shouldn’t scare you away from your startup dreams. Instead, it’s bestRead More
Construction Accounts Receivable Financing: Turn Receivables into Cash
According to the 2019 Construction Payments Report from Rabbet, slow and floating payments cost the construction industry $64 billion in 2019. Why? While waiting on payments, contractors have to slow progress, or stop working on projects altogether. A lack of cash makes it difficult to pick up new jobs. Unfortunately, subcontractors don’t get paid onRead More
HVAC Business Loans Are Helping Contractors Earn Higher-Ticket Jobs
Scaling your HVAC business the right way is all about taking advantage of every seasonal opportunity. Keeping your business moving throughout the year means: planning strategically, managing your cash flow correctly, and marketing effectively. But it may not be enough to take your business to the next level. That’s where HVAC business loans come intoRead More
The Winter Slowdown: How Construction Business Loans Keep You Afloat
This post was last updated on Monday, November 4th to include information about the best construction financing options for the winter! Whether you like to admit it or not, the weather can have a significant effect on your bottom line in the construction industry. Construction business loans can play an important role in helping yourRead More
Eco-Friendly Construction Equipment: Can It Save Your Bottom Line?
If you’re facing cash flow issues in your construction company, you’re not alone. A 2018 survey showed 84% of construction firms struggle with cash flow, and 19% cite it as a “constant” concern. But did you know adopting eco-friendly business practices in your construction company can help fix some of your budget issues? Upgrading toRead More
Construction Financing: Don’t Miss Jobs Because Banks Take Too Long
Maintaining good cash flow can be a catch-22 when you run a construction company. Clients don’t always pay as quickly as you’d like. But on the other hand, you can’t accept other contracts until you have enough money to purchase materials and pay employees. Construction business loans are an option for bringing in cash toRead More
Construction Loans for Builders: Finish Jobs Faster with a Line of Credit
A consistent flow of work is the key to keeping your construction company going. But you can’t take on new jobs if you don’t have the finances available to get started, or cash flow issues delay existing projects. When outstanding invoices and late payments prevent you from meeting deadlines, client relationships – and your chancesRead More
Get Back to the Future with Revolutionary Construction Tech
New trends in construction technology are changing the way contractors approach building projects. According to industry predictions, the majority of building and construction processes will rely on automation by 2050 thanks to emerging innovations. This isn’t science fiction. It’s the reality of where construction tech is headed, and it could have a big impact onRead More
[2020] How to Access Construction Loan Rates from 75+ Lenders
Getting financing for your construction business can be an uphill battle, especially if you try to go through a bank. Traditional lending often limits your options, making it harder to qualify for a loan to support operations during slow seasons or take advantage of opportunities when you’re ready to grow. Does that mean you’re stuckRead More
What is a Commercial Building Loan, and How Does it Work?
For many growing businesses, the time comes when more space or an additional location is needed. Commercial loans for construction and real estate purchases can make your expansion plans a reality sooner rather than later. Here’s what you need to know to find the perfect loan. Commercial Building Loans: They’re Not the Same as RegularRead More