Construction Company Funding
Construction companies employ over 10.7 million people in the United States, with new construction expected to reach a value of $1.5 trillion by 2023. Keep up with demand and build your construction business with up to $500,000 in funding in just 24 hours.
Fast, Easy Construction Company Funding
Whether you’re looking to bid for a new project, fill seasonal gaps, or expand your construction company, construction businesses of all sizes and specialties can benefit from construction company funding.
Getting the funding you need from a traditional lender like a bank can be difficult. The process may take weeks, and most loans are denied because construction company funding is often considered “high risk” due to volatility of demand, fluctuations in cash flow, and thinner margins.
As an alternative lender, Greenbox Capital® can approve more construction company loans than traditional lenders, often in just one business day. We provide a number of different types of small business funding to help grow your construction business, with alternative construction loans from as low as $3,000 up to $500,000. We fund all specialties, including remodelers and renovators, contractors, concrete, electricians, plumbers, HVAC technicians, landscapers, specialty tradespeople, and more.
How To Use Construction Company Funding
There are no restrictions on how you can use construction company funding from Greenbox Capital. Construction company funding is typically best used for providing the cash flow you need to improve or expand your business. Use your funding to:
- Purchase or repair equipment to reduce your reliance on subcontractors
- Bid for bigger projects by upgrading equipment or hiring staff
- Improve technology, such as purchasing 3D printers or advanced scheduling systems
- Purchase materials to get a jump start on a new or upcoming project
- Invest in mentoring and training programs for new employees
- Maximize seasonal downtime to invest in marketing or new technologies
- Embrace new technologies like Building Information Modeling (BIM), telematics, virtual reality or augmented reality, robots and drones, 3D printing, connected devices, and autonomous vehicles
A construction company loan can also provide the influx of working capital you need to meet the unique challenges of running a construction business, such as:
- Volatile or seasonal demand—fixed expenses still need to be paid during the off season and can put a strain on your business’s cash flow
- High cost of materials and equipment—raw materials and proper equipment are essential for pitching, starting, and completing jobs on time, but they require significant up-front investment
- High employee turnover and skilled worker shortages— construction workers are retiring faster than the younger generation can replace them
- Late receivables
How Construction Company Funding Works
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1
Apply
Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.
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2
Choose Funding
A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.
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3
Get Funded
Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.
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4
Set Repayment
Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.
Will You Qualify for Construction Company Funding?
Exact qualification requirements depend on the type of construction company funding you are seeking. Approval for construction company funding from Greenbox Capital isn’t based solely on your credit score or financial history. Instead, we focus on the overall health of your business, including:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
Construction Company Funding Q&A
My construction company needs to purchase raw materials in order to bid for a major new project. What’s the best way to secure funding to get the additional supplies I need?
The best way to get the funding you need is through an alternative lender like Greenbox Capital. Alternative construction company funding is ideal for purchasing raw materials that will help you secure a large project and increase your revenue. We offer a quick, stress-free application process, with same day funding available for most applicants. Speak with one of our friendly Funding Advisors to identify the right solution for you.
How do I get funding for a construction company?
You can get funding for a construction company from traditional lenders like the SBA or a bank, as well as from alternative lenders like Greenbox Capital. Alternative lenders have more flexible approval requirements that consider the overall health and potential of your business—not just your credit score—and offer revenue-based financing options that are more ideal for businesses with lower credit scores, such as merchant cash advances for low credit. Contact one of our Funding Advisors to learn more.
What do I need to do to qualify for a small business loan?
We have a very simple application process, with same day funding available. To get started, fill out our one-page application form or speak with a Funding Advisor.
Why should I consider an alternative lender for my construction company funding?
Most traditional banks consider construction companies high-risk and will not fund them. As an alternative lender, we have different approval requirements, and can approve funding for “high risk” industries. We can provide you with the funds you need to cover project expenses, labor, materials and more, often in less than 24 hours.
