Flooring Contractor Loans
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Financing for Flooring Companies
Flooring companies still have to pay for materials and labor while waiting to get paid from general contractors. By using flooring contractor loan programs, you can bridge the cashflow gap and accelerate invoice payments. There are many loan programs for flooring contractors so it’s important to pick the right program for your business. Below are some of the ways to use a flooring contractor loan.
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Flooring Contractor Loan Options
Factoring for Flooring Contractors
Mobilization Funding for Flooring Contractors
How to use a Flooring Contractor Loan
Flooring contractor loans can be set up as term loans or revolving lines of credit. The collateral that your business has will have an impact on the type of flooring contract loan program that you can qualify for. For asset-based loans and collateralized financing it’s important to have equipment, receivables, and inventory available for collateral. If you are looking for an unsecured flooring contractor loan program, then a term loan or unsecured line of credit is an option. In addition to collateral, it’s important to make sure that you are using the right loan program for the purchase. Revolving lines of credit for flooring contractors should be used for working capital and term loans should be used for one-time purchases. At SMB Compass we will guide you through the application process and make sure that you choose the right flooring contractor loan for your business.