Business Loans for
Contractor Business
Contractors are critical to building everything, from a home to a factory. A general contractor is responsible for overseeing the entire construction project, managing multiple moving parts to make sure the construction project is completed on time and within budget. When there is an overlap from one part of the job to another, cash flow challenges can result, which can negatively impact the ability of the contractor to complete the project on time. As a general contractor, you manage your cash flow to pay for workers, invest in necessary tools, and cover other expenses to cope with demand.
Business loans for contractors allow you to manage your cash flow as a project progresses, allowing you to continue to pay for crucial personnel, subcontractors, and essential supplies. At PCC, we recognize the importance of financing construction businesses, helping them grow and thrive.
Additionally, financing through construction business loans allows you to adapt to changing economic conditions locally, which allows your projects to keep moving forward. Our team offers financial options geared to the needs of your construction business. Here are just a few of the options we offer:
Financing New Equipment
As a contractor, your tools are essential to completing your projects. Those tools can include hand tools or more extensive equipment, such as bobcats and dump trailers. The right financing can determine whether you can take on additional projects or are forced to let projects go to your competition.
Hire Workers
Construction projects have different requirements for the number of workers needed, depending on the stage of the project. With a business loan for contractors, you have access to the capital necessary to hire temporary workers as the project needs them, enabling you to meet critical deadlines. It also allows you to pay subcontractors as the project phases are completed, avoiding potential liens against the project or delays in completion.
Expand Operations
General contractor business loans and working capital options provide the financing you need to meet your current obligations and pursue new projects while waiting for the final payment of completed projects. That means you can grow your workforce and bid on additional construction opportunities while covering your liability insurance to meet requirements at the local and state level.
Overhead Expenses
Cash for everyday overhead expenses, including inventory, raw materials, and labor, is vital to running your construction business. Working capital loans and contractor business loans can provide additional capital for overhead expenses to keep your business despite season shifts in your workflow.
If your company needs an infusion of financing, our team can walk you through the application process. Our specialists learn about your business and explore financing options, customizing your business loan for contractors to meet your current needs.
Why Work With PCC?
Our team understands the unique financing needs of contraction businesses, particularly during seasonal demand or the realities of payments coming months after a project is completed. When you work with PCC, our specialists get to know your construction business and its strategic goals, then create a personalized financing plan to meet your needs. While traditional lenders might consider construction businesses a high risk due to seasonal volatility and cash flow challenges caused by long accounts receivable, at PCC, we have flexible approval requirements to focus on the potential of your business rather than its financial history.
We provide lending solutions and payment options tailored to your current needs, giving your construction business a foundation for future growth. The application process is fast and easy, allowing you to keep up with the demand and helping your business to thrive.