The construction industry is one of the largest industries in the world, employing over 10 million employees and generating trillions of dollars in revenue. Compared to many, the construction industry is a very unique industry.
Generally speaking, construction firms have a lot of assets due to the value of the equipment and machinery that is used. Firms in the construction industry can also have sporadic revenue sources due to the nature of the jobs and projects that they do. Many construction jobs are secured through a bidding process that can mean competing against many other firms to get the contracts for a certain job. Even once a firm gets a contract for a job, there may be a significant amount of time before they see any payment. Construction firms also have to employ hundreds of employees as well as outside contractors on hand. Having working capital on hand can help to keep payroll and outside contracts paid and up to date. Because of the unique nature of the construction industry, there are also unique options for construction firms to gain financing. Below we discuss a few lending options that construction firms have to keep your business up and running or get the job done.
Working Capital for Construction Companies
At REIL Capital, weâ€™ve streamlined the entire construction funding process, making it simpler and faster for business owners who need money to start a new project, need to purchase new equipment, or who just need a little extra cash to take care of everyday expenses like payroll and bills, while they are in between projects. Weâ€™re business owners just like you, and as a family owned and operated business, we know the challenges you face every day. Every business owner wishes they could have more hours in the day, and although we canâ€™t give you more time, we can help ensure you donâ€™t waste what little time you have securing construction funding.
It all starts with our instant online application process. All you have to do is visit our website and fill out our simple online application. It takes just minutes to complete and once youâ€™re done, a representative will contact you almost immediately to discuss the various construction funding options we offer. Customer education is important to us, so weâ€™ll be happy to answer any questions you may have and youâ€™ll never be pressured to make a decision. We want to make sure you understand exactly how each construction funding option works before you sign anything.