Emergency Financing for Construction Companies
In every business contingencies occur. That is when working capital reserves are drawn upon to cover unexpected expenses. The amount of cash flow that is set aside for these emergencies may not always be sufficient to cover the requirement for additional working capital.
Top 5 Emergency Financing Needs for Construction
- Repairs or replacement in the event of equipment failure
- Receiving a municipal building contract
- A materials supplier requires a larger down payment or full-payment upfront
- Storm or fire damage to warehousing or storage facility
- Money to cover hiring additional staff
To finance contingencies that create a cash flow bottleneck, business owners often turn to their banks for construction financing. Here they encounter another difficulty: the application to approval to financing timeline can take weeks and possibly months. That extended wait for capital can drive construction businesses deeper into debt and possibly bankruptcy.
Fast Construction Financing for Every Contingency
It is important for any business to consider establishing a long-term financial relationship with a reliable and dependable company. A major caveat: that the company can enable firms to obtain working capital as quickly as they require it. As a renowned alternative financing company, National Business Capital, has provided our clients with assistance to obtain the right financing (such as: Equipment Financing, Business Line of Credit, Small Business Financing) their businesses require in a matter of days.
Our application process requires far less documentation than banks and the form may be filled out within two minutes. Construction financing decisions are based on realistic criteria, so a low FICO or even an open tax lien are not immediate grounds for disqualification. Once approved, money is made available in days. This way, every contingency requiring construction financing, may be addressed quickly and at terms borrowers can afford.
If your business needs construction financing now, or if you have questions regarding upcoming anticipated expenses, please call our Business Consultants at (888) 888-9124.