Tag: Credit Management
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How to Find Out How Much Money Your Construction Company Can Borrow
Taking on new projects or jobs places a large cash burden on construction companies, particularly for subcontractors that are forced to “float” the project costs up front. Since the amount of cash needed will vary from day-to-day (based on the cash flow of the individual project, as well as the company’s overall cash flow from…
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Top 3 Causes of Hidden Losses for Contractors on Construction Projects
The construction industry operates on such razor-thin margins that the slightest issue or problem on a job can be the difference between making money and losing money. The construction industry is also very complicated, and this complexity allows problems to be “hidden” or buried in the everyday operations of an already complicated business with a…
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Quick Tips to Manage Financial Risk and Get Paid in Construction
The ability to secure payment for labor and/or materials furnished to improve property is built directly into the laws of every single state in the country – all 50 of ’em, and all of the U.S. Territories too! These laws are incredibly powerful tools, however, you just need to meet the statutory requirements in order…
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Is A Personal Guarantee Enough To Protect Your Construction Company?
Personal guarantees are by definition unsecured, which means that they’re not tied to any one asset. Therefore, a creditor can come after any and all of the guarantor’s assets (your home, boat, stamp collection, complete set of Seinfeld DVDs…you get the idea) in order to satisfy the debt. Moreover, the creditor is generally not required…
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Construction Financial Manager Review | 05-19-2017
This week’s Construction Financial Manager Review features a selection of interesting articles from across the industry this week. Our goal is to make it easy for all construction financial professionals to stay informed about what matters to them.