Construction Finance

A charge card can help contractors improve cash flow and grow their business at a faster rate.

A good bookkeeping practice is essential to managing your construction projects' finances. Bookkeeping is an accounting practice that involves the meticulous recording of financing transactions. It is the systematic arrangement or organization of business transactions during a business operation.  As such, various...

As a construction company, it’s essential to understand the cash conversion cycle (CCC) and how it impacts your company. Not converting your cash quickly enough can result in lower potential growth.

Charge card vs credit cards. In this article, we compare the pros and cons of each.

Corporate and business credit cards are designed for different types of businesses — learn which one is best for you.

For construction companies and contractors, understanding the concept of overhead costs is crucial to your business's success. Simply put, Overhead (cost) in construction is the cost of running the business. It can include the cost of executing projects, the expenses required for normal day-to-day business operations, and everything in-between.

Save Time, Money, and Stay Compliant With Expense Management

Construction firms offer many services, such as constructing, designing, renovating, and supervising the development of infrastructures across both residential and commercial industries. Due to the nature of these projects, the bulk of construction work happens on-site, thus making it difficult for off-site workers...

‎Construction projects require significant capital, and because contractors do not get full payment until the project is completed, they have to source funds elsewhere. A typical financing option contractors use is a construction loan.  Contrary to what most people think, loans are not only needed during a financial...

Merchant Cash Advance for Construction Companies: Good or Bad? Financial difficulties are not an uncommon theme for growing construction companies.  In the construction industry, it’s not easy for contractors with a relatively new and short business span or irregular income to secure the funding they need to complete...

Introduction

Best ways for construction companies to take advantage of the COVID-19 relief package

Sufficient net working capital ensures your company is growing sustainably and can meet its short-term financial obligations.

Building trade credit can enable your construction business to operate without laying out cash upfront. In this article, we'll cover why trade credit is important for construction businesses.

As a contractor, how you choose to finance your business is a crucial decision that could influence the outcome of your projects and also your overall business.  And while you might already have cash saved up, you may need to look elsewhere for additional funds. For example, business loans and charge cards are...

Business charge cards and debit cards may be similar, but knowing when to use each can become a strategic decision for growing your construction company. Let's clarify some common misunderstandings about when to use each by first defining both types of cards and then highlighting their similarities and...

You will often need credit to finance your business as a construction business owner. And with the consistent rise in cashless transactions, credit cards are the go-to option.  Credit cards, however, are of two types: corporate credit cards and personal credit cards. Although you can use both for business, only one...

Construction companies and contractors often need access to funds to complete projects, pay suppliers, and avoid any cash flow problems. In such times, companies require and use financial products such as bank loans, invoice factoring, business credit cards, and lines of credit.  The rising popularity and wide...