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How to Get Financing for Construction Capital for a Small Company

How to Get Financing for Construction Capital for a Small Company

  • January 24, 2022
  • Written by : Carl Eschenburg

Operating a construction business is expensive, and when you need working capital, it can be frustrating to not be able to easily obtain it. Financing for construction companies has always presented somewhat of a challenge for construction subcontractors.

Fortunately, there are lenders like ourselves who are happy and willing to provide financing to construction business owners like yourself.

How to get financing for construction capital for my small company?

To apply for financing for construction capital, you’ll just need three months of bank statements and three minutes of time to complete our application. It’s that simple.

The catch is knowing which type of funding is best for your business.

What type of construction business financing is best for me?

It’s important to keep in mind that there is not necessarily one type of construction funding that is better than the rest; your choice in funding will depend on your unique business needs.

Here are some of the most common options for construction financing:

Merchant Cash Advance

However, if you are looking for a fast and easy option, merchant cash advances (MCA) are a great choice for immediate capital. MCA’s are based on your bank account receivables, and businesses typically are forwarded a lump sum between 80-120% of their monthly revenue. Owners have the choice to repay this using their daily credit card sales or a fixed remittance from their business bank account.

Follow this link to apply for a Merchant Cash Advance for your construction company today.

SBA Funding

On the other hand, SBA funding can provide the highest amount of capital and the lowest interest rates. Repayment periods for this kind of financing range from 10-25 years.

This is a good option for construction business owners who want to expand their business and territory, increase working capital, purchase or repair large equipment, or refinance existing debt.

Read more about our SBA Funding option here.

Equipment Financing

Lastly, if you are in need of equipment to continue operating your construction business at full speed, then equipment financing may be the best choice for you. This kind of fund doesn’t require any collateral, has fixed monthly payments and can provide your business with up to $250,000.

Whether repairing, updating, or replacing your construction equipment, you can easily manage expenses with Equipment Financing.

If you are still curious about construction financing or which funding option may be best for your business, we invite you to talk to one of our financial experts. He or she can help walk you through the entire funding process and give you the advice you are searching for.

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