“I need capital for equipment.” That’s the mantra of every contractor I’ve come across over the last month looking for construction loans. It seems new housing and re-hab construction is picking up. These companies need funding to help our country grow. They do not need the run a round that banks give them when they are trying to get construction loans. They need answers and money fast.
Gone are the days of waiting 1-2 months to get either a yes or no from a bank and even when its a “yes” they still have to wait to get financed. Mounds of paper work, phone calls, no answers, and waiting. No one likes to wait and go through hassles like this let alone a contractor who is out on the road at jobs all day.
Construction Loans For Growth
Contractor loans provide the necessary capital that this country needs to rebuild and keep growing. Indirectly they are responsible for providing housing for businesses that relocate their employees and for the general consumer which will also draw retail and needed revenues for small towns and big cities all over the country.
Small Business Funding provides supports construction companies with consultative funding solutions.
Getting the Funding You Need
Years ago when banks were lending and had less stringent criteria for credit the country grew at an unbelievable rate. Primarily, banks will not lend to contractors because of their seasonality, issues with cash flow, the transient nature of their work force, and their exposure to liability. And that is the excuse they use now.
Nothing has changed in that industry, its just today they use this as an excuse not to finance a deal. Fortunately for the alternative lending industry this is a positive. Never before has there been as much interest and understanding of need for this type of lending before. Small business funding sources are taking advantage of these times and lending more than ever before.
To see more about construction loans and what you can be approved for click here.