Construction Business Loans

For Your Construction Company.

How much are you looking for?

price

With SMB Compass, the entire loan process is conducted online — quickly, simply, and securely

Flexible

From $25,000 to $5,000,000, with terms up to 10 years

Fast

Funding in as soon as 24 hours

Flexible

Competitive fixed rates,no collateral, no surprises

Financing for the Construction Industry

The construction industry is notorious for being capital intensive. Running your own construction firm takes hard work, expertise, and a lot of resources. Contractors always need capital available to start new projects and fund the working capital for existing ones. Contractor financing is important to keep up with the need to purchase materials, buy new equipment, and to hire employees.

It’s commonly known that contractors are always waiting to get paid by their customers. Based on the payment waterfall, sub-contractors are usually waiting the longest. Most contractors are paid when paid, which means they are not paid until the GC is paid. This typically causes a constant need for working capital to bridge the payment gap.

At SMB Compass we are dedicated to providing cost effective and flexible solutions to the construction industry. By utilization the right contractor financing solution you can continue to grow your business without thinking about having the capital available to you.

Loan Options for Contractors

SMB Compass offers different types of financing options for the construction industry. Speak with a trusted Lending Advisor today to find the loan that’s best for your business’s specific needs.

Bridge Loans for Contractors

A contractor bridge loan is a great financing option for contractors that are looking to finance short term needs. It’s important to align short term business needs with short term capital, like a contractor bridge loan. Common reasons why a contractor would use a contractor bridge loan are as follows.

N

Bulk Material Discounts

N

Mobilization funding

N

Leasehold improvements

N

Hiring new employees

N

Purchasing equipment

N

Transitional financing

Equipment Financing for Contractors

Contractor equipment financing is one of the most commonly forms of financing used by contractors. The construction industry is highly reliant on equipment for day to day operations. The equipment needs span from basic equipment like phones, computers, and copiers to heavy equipment such as trucks, trailers, cranes, and dozers. Common reasons why a contractor would use contractor equipment financing are.

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Purchase equipment

N

Refinance existing equipment

N

Update outdated equipment

N

Lease new equipment

N

Replace construction software

N

Upgrade customer management systems

*Below is a list of common equipment that contractors us contractor equipment financing programs for.

N

Consolidate existing debt

N

Purchase new equipment

N

Business acquisition

N

Partner buyout

N

Debt refinance

N

Upgrade equipment

N

Purchase commercial real estate

N

Refinance existing real estate mortgage

N

Leasehold improvement

N

Business expansion

SBA Loans for Contractors

SBA loans for contractors are widely used by construction firms. Utilizing SBA loan programs for contractor’s business owners are able to take advantage of long terms, low rates, and low monthly payments. Some of the ways to use an SBA loan for the construction industry.

N

Loader Financing

N

Excavator Financing

N

Dozer Financing

N

Truck Financing

N

Crane Financing

N

Equipment Management Software Financing

N

Dump Truck Financing

N

Air Compressor Financing

N

Welding Equipment Financing

N

Backhoe Financing

N

Wood Chipper Financing

N

Forklift Financing

N

Concrete Paver Financing

Business Lines of Credit for Contractors

Having access to revolving lines of credit are essential for day to day operations for contractors. Whether it be for slow paying companies or having money available to take advantage of opportunities, business lines of credit for contractors are a must. With a business line of credit, you only pay for money that you use, when you use it. Below are some of the ways to utilize a business line of credit for contractors

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Purchase supplies

N

Advertising and marketing

N

Day to day operating cashflow

N

Purchase equipment

N

Leasehold improvements

N

Mobilization funding

Asset-Based Loans for Contractors

Asset-based lending for contractors is commonly used to take advantage of highly valued company assets. Contractors often have cash that’s tied up in construction equipment, accounts receivables, and inventory. By utilizing an asset-based loan for contractors you have the ability to free up capital to reinvest in other parts of your business. Some of the reasons to use asset-based loans for contractors are below.

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Increase operating cashflow

N

Refinance construction equipment

N

Accelerate invoice payments

N

Reduce monthly debt payments

N

Purchase new equipment

N

Hire new employees

Term Loans for Contractors

Contractor term loans range from one to five years and provide low monthly payments which have little effect of day to day operating cashflow. Opting to use a contractor term loan is typically a better option than using available cash. Contractor term loans can be used by contractors in a variety of ways.

N

Purchase new equipment

N

Leasehold improvements

N

Refinance existing equipment loans

N

Consolidate debt

N

Hire new employees

N

Working capital injection

Construction Factoring for Contractors

Construction factoring is commonly used by contractors to get paid early on invoices. This enables contractors to have cashflow available for day to day operating expenses.  By collecting payment on invoice sooner, construction factoring also provides liquidity for the following.

N

Marketing and advertising

N

New construction projects

N

Business expansion

N

Hiring new employees

N

Purchasing materials

N

Leasehold improvements

Mobilization Funding for Contractors

Contractors that bid on large commercial jobs are often in need of financing to pay for upfront expenses associated with the new project.  Mobilization funding provides capital for expenses incurred before you can invoice your customer.  Once you invoice your customer and get paid you can pay back the mobilization financing. Frequently mobilization funding is paired with factoring to help accelerate cashflow throughout the life of the project.  Some of the ways you can use mobilization financing is below.

N

Purchase materials

N

Labor expenses

N

Buy new equipment

N

Hire new employees

N

Travel expenses

N

Design fees

Types of Contractors we Finance

General Contractor Loans

Sub Contractor
Loans

Electrical Contractor Loans

Plumbing Contractor Loans

Foundation Contractor Loans

Framing Contractor Loans

Roofing Contractor Loans

Flooring Contractor Loans

Landscaping Contractor Loans

How to Apply for a Contractor Loan

Prequalify

SMB Compass’s simple and secure online loan application can be completed in a matter of minutes. Quick & Easy!

Approved

After we process your application we will contact you and provide you with the best loan offer.

Closed

Once your loan is approved in as little as 24 hours. You will have capital deposited directly to your business bank account.

Interested in learning about your financing options?
Speak with a lending expert today!

Interested in learning about your financing options? Speak with a lending expert today!