Category: Construction
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How Does a Business Line of Credit Fit for Contractors?
Contractors have unique cash flow needs, and they need flexible financing that can put money in their hands when they need it. Unexpected needs to purchase inventory, equipment, and supplies, coupled with the fact that they often face an irregular payment schedule from customers can lead to liquidity problems. This is where a business line…
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Construction: Make Sure Your Company is Prequalified!
The arduous task of complying with risk management guidelines has come to the forefront for construction firms, especially subcontractors. In particular, the advent of prequalification software, which more contractors and agencies are using to keep a database of prequalified construction firms. This software makes it easier for contractors and government agencies to launch invitation-only bids…
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What Is Heavy Equipment Financing?
KEY TAKEAWAYS Whether you’re in construction, agriculture, or another industry that requires large equipment to operate, heavy equipment financing can provide a valuable tool to procure essential machinery without depleting your working capital. Heavy equipment financing, like all financing, has both pros and cons. While it can offer tax benefits and flexible payment terms, it’s…
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Business Loans for Contractors: The Best Choices
The best loans for contractors depend on the purposes of the loans. Find out which types of contractor loans to use for working capital or to buy equipment