Since money doesn’t grow on trees, financing is a necessary part of contracting. It allows general contractors and sub-contractors to manage their cash flow over multiple contracts. It may be a contractor for any area of construction, maintenance, or operations. Soft costs can include almost anything, including the cost of material storage on-site or other charges associated with starting a project for the various subcontractors.
The contractor’s loan is designed around the cash flow cycles and the periodic expenses of the contractor. It is like a credit line with the bank controlling the borrowing and release of funds to the contractor.
Before opting for a contractor’s loan, consider these questions. Why do you need a contractor’s loan? Do you need working capital for growth or expansion that gives you immediate cash? Let K-WAM make recommendations for funding.
The contract loan process’s complexity helps to have someone in your corner to smooth the way and ease the stress. Our knowledgeable folks at K-WAM Financial Solutions can connect you with the right company for a contractor financing program that meets your company’s needs. For additional information, send a message to our team, Click here.