Funding Solutions to support an effective and growing core Subcontractor team.
Many General Contractors (GCs) comment that they wish their core SubContractor (SC) team could be available to support them on more projects. They know the SC’s owners and their supervisors. They have confidence in their process and their work. They want to do more work with them. But what is holding them back?
The primary answer is Capital!
The SC’s ability to grow along with its GCs is limited by the SC’s lack of access to capital to support accepting additional work. They have limited ability to obtain bank funding for their upfront labor, material, permits, and equipment expenses. Their only source of funds is the receipt of payment from their work invoices, but those are increasingly delayed.
This lack of access to capital is a real issue and is a primary constraining factor within the construction industry.
Thankfully, through our network of non-bank lenders, we have solutions are available to address this need, such as:
- Mobilization of Funding programs to address the funding gaps experienced during the startup and life of specific projects.
- Account Receivable financing programs for contractor receivables, including progress billings, pay when paid, and milestone billings.
- GC sponsored Early Pay Programs for their Subcontractors
- Equipment Finance funding for the purchase, lease or sale and leaseback of construction related equipment.
At Glengarry Capital Group, we have relationships with lenders that have developed specialized funding products and process to support the construction industry.
Contact me at [email protected] to arrange a time to review your situation and explore the funding programs available to you and your contracting business.