Construction Contractor Business Capital Loans
Your best option for Construction Contractor Business Capital Loans might be through a bank. Banks and SBA lenders tend to have lower rates than alternative lending. Even if you are told that you are a good candidate for business loan. Banks require extensive credit and financial documentation, and their approval processes are lengthy. If you are approved, it can be weeks or even months before you any the capital you. For a construction company or an independent contractor, construction loans are one of the hardest loans to qualify for. Both commercial and residential building contractors have historically been considered high risk borrowers.
The Construction Sector
Contractors bid on jobs that will keep them busy throughout the spring and summer. Once they win a contract they get a deposit, most often it will not be sufficient enough to cover of paying vendors, laborers, materials or new equipment. Between the demanding competition, high operational costs, and the constantly fluctuating customer demand. You need to continually invest in the future of your business in order to remain ahead of rival companies.
Business Loans Approved Quickly
Our application process is different from other banks or lenders. We focus on the actual business performance that can be reviewed with a few months of bank statements. This allows us to be flexible on credit history checks and avoid the unlimited documents connected to your approval. We offer funding from $5000 to $250,000. The actual rate and term is dependent on the performance of the business. The amount capital that can be borrowed is dependent on the monthly deposits. There is very little paperwork involved this is the main reason why the application process is so quick. There is not a single bank in the country that can approach the efficiency and speed of what an alternative lender can do for you.